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Paragon Fine And Speciality Chemicals Limited IPO Detail

Paragon Fine And Speciality Chemicals Limited IPO Detail

 Incorporated in 2004, the company is involved in the business of custom synthesis and manufacturing of speciality chemical intermediates involving complex and differentiated chemistry. The company manufactures Pharma Intermediates, AGRO intermediates, Cosmetics Intermediates, Pigment Intermediates and Dye Intermediates for a diverse Indian and Global customer base. 

The company's manufacturing unit is located in Viramgam District, Ahmedabad, Gujarat covering approximately 7000 square meters of area, equipped with high-end reactors to carry out research for developing new products.

The company's R&D team has successfully carried out the multi-step synthesis and developed multiple new molecules in the area of specialty intermediates and as a result, enhanced their product portfolio to around 140 products in Fiscal 2023. As of March 31, 2023, we have a team of 14 technocrats who are engaged in Research and development.

The company's competitive strengths are as follows: 

  1. Wide range of customizable products
  2. Focus on R&D to leverage complex chemistry and technology
  3. Long-term relationships with customers across different nationalities.
  4. In-house manufacturing unit with equipped technologies and processes.
  5. The Promoters and Senior Management of the company are highly experienced with substantial domain knowledge.

Company Promoters

Dr. Pravinchandra Jasmat Vasolia, Kishorkumar Panchabhai Patolia, Vallabh Ratanji Savaliya, Rutesh Vallabhbhai Savalia and Shivam Kishorbhai Patolia.

IPO Details

IPO Opening DateOct 26, 2023
IPO Closing DateOct 30, 2023
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price ₹95 - 100 per equity share
Market Lot1200 Shares
Min Order Quantity1200 Shares
Listing AtNSE SME
Issue Size₹51.66 Cr
Fresh Issue₹51.66 Cr
Offer for Sale-
Retail Portion 35%

IPO Subscription (Bidding Detail)

Day 1 2.71x 14.08x 16.73x - 12.16x
Day 2 11.14x 24.40x 38.72x - 27.77x
Day 3 81.38x 419.42x 185.04x - 205.61x

IPO Tentative Timetable

The Paragon Fine And Speciality Chemicals Limited IPO open date is Oct 26, 2023, and the close date is Oct 30, 2023. The issue may list on Nov 07, 2023.

IPO Open DateOct 26, 2023
IPO Close DateOct 30, 2023
Basis of Allotment DateNov 02, 2023
Initiation of RefundsNov 03, 2023
Credit of Shares to Demat AccountNov 06, 2023
IPO Listing DateNov 07, 2023

IPO Lot Size

The Paragon Fine And Speciality Chemicals Limited IPO market lot size is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or ₹120000).

ApplicationLotsSharesAmount (Cut-off)

IPO Promoter Holding

Pre Issue Share Holding100%
Post Issue Share Holding100%

Company Financials:

For the year/period ended (₹ in Lakhs)

Financial Year Total Assets Total Revenue Profit After Tax
31-Mar-21 4983.26 8436.94 439.77
31-Mar-22 5750.53 8457.92 449.02
31-Mar-23 7097.84 10501.19 989.21

Objects of the Issue:

The company intends to utilize the proceeds of the Issue to meet the following objectives: -

1. Funding capital expenditure towards civil construction work in the existing premises of the factory

2. Funding capital expenditure towards civil construction work in Plot No 10/A, Situated at Survey No. 1359, 1360 Village-Viramgam Taluka- Viramgam, District-Ahmedabad-382150, Gujarat.

3. Repayment in full or in part, of certain of our outstanding borrowings;

4. Funding Capital Expenditure towards the installation of additional plant and machinery for Expansion.

5. Funding to meet working capital requirements 6. General Corporate Purpose.

Paragon Fine And Speciality Chemicals Limited IPO Registrar:

Bigshare Services Pvt Ltd

Paragon Fine And Speciality Chemicals Limited IPO Lead Manager(s):

Hem Securities Limited

Company Contact Information:

Paragon Fine And Speciality Chemicals Limited

1001/1, Parshwa Tower, Near Pakvan Hotel

S.G. Highway, Bodakdev

Ahmedabad, 380054