Paragon Fine And Speciality Chemicals IPO is a book built issue of Rs 51.66 crores. The issue is entirely a fresh issue of 51.66 lakh shares.
Paragon Fine And Speciality Chemicals IPO opens for subscription on October 26, 2023 and closes on October 30, 2023. The allotment for the Paragon Fine And Speciality Chemicals IPO is expected to be finalized on Thursday, November 2, 2023. Paragon Fine And Speciality Chemicals IPO will list on NSE SME with tentative listing date fixed as Tuesday, November 7, 2023.
Paragon Fine And Speciality Chemicals IPO price band is set at ₹95 to ₹100 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹120,000. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹240,000.
Hem Securities Limited is the book running lead manager of the Paragon Fine And Speciality Chemicals IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Paragon Fine And Speciality Chemicals IPO is Hem Finlease.
Refer to Paragon Fine And Speciality Chemicals IPO RHP for detailed information.
Paragon Fine And Speciality Chemicals IPO Details
| IPO Date | October 26, 2023 to October 30, 2023 |
| Listing Date | [7 NOVEMBER 2023] |
| Face Value | ₹10 per share |
| Price Band | ₹95 to ₹100 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 5,166,000 shares (aggregating up to ₹51.66 Cr) |
| Fresh Issue | 5,166,000 shares (aggregating up to ₹51.66 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 14,400,000 |
| Share holding post issue | 19,566,000 |
| Market Maker portion | 261,600 shares Hem Finlease |
Paragon Fine And Speciality Chemicals IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Paragon Fine And Speciality Chemicals IPO Timeline (Tentative Schedule)
Paragon Fine And Speciality Chemicals IPO opens on October 26, 2023, and closes on October 30, 2023.
| IPO Open Date | Thursday, October 26, 2023 |
| IPO Close Date | Monday, October 30, 2023 |
| Basis of Allotment | Thursday, November 2, 2023 |
| Initiation of Refunds | Friday, November 3, 2023 |
| Credit of Shares to Demat | Monday, November 6, 2023 |
| Listing Date | Tuesday, November 7, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 30, 2023 |
Paragon Fine And Speciality Chemicals IPO Lot Size
Investors can bid for a minimum of 1200 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹120,000 |
| Retail (Max) | 1 | 1200 | ₹120,000 |
| HNI (Min) | 2 | 2,400 | ₹240,000 |
| Lot Size Calculator |
Paragon Fine And Speciality Chemicals IPO Promoter Holding
The promoters of the company are Dr. Pravinchandra Jasmat Vasolia, Kishorkumar Panchabhai Patolia, Vallabh Ratanji Savaliya, Rutesh Vallabhbhai Savalia and Shivam Kishorbhai Patolia.
| Share Holding Pre Issue | 100 |
| Share Holding Post Issue | 73.60 |
About Paragon Fine And Speciality Chemicals Limited
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:
- Wide range of customizable products
- Focus on R&D to leverage complex chemistry and technology
- Long-term relationships with customers across different nationalities.
- In-house manufacturing unit with equipped technologies and processes.
- The Promoters and Senior Management of the company are highly experienced with substantial domain knowledge.
Paragon Fine And Speciality Chemicals Limited Financial Information (Restated)
Paragon Fine And Speciality Chemicals Limited’s revenue increased by 24.16% and profit after tax (PAT) rose by 120.3% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 7,412.19 | 7,097.84 | 5,750.53 | 4,983.26 |
| Revenue | 2,900.43 | 10,501.19 | 8,457.92 | 8,436.94 |
| Profit After Tax | 362.16 | 989.21 | 449.02 | 439.77 |
| Net Worth | 2,595.67 | 2,233.52 | 1,244.31 | 795.29 |
| Reserves and Surplus | 2,235.67 | 1,873.52 | 1,234.31 | 785.29 |
| Total Borrowing | 2,709.67 | 2,521.03 | 2,068.16 | 2,193.00 |
| Amount in ₹ Lakhs |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 14.56 |
| ROE | 56.89% |
| ROCE | 38.86% |
| EPS (Rs) | 6.87 |
| RoNW | 44.29 |
Check Paragon Fine And Speciality Chemicals IPO Peer Comparison here.
Objects of the Issue (Paragon Fine And Speciality Chemicals IPO Objectives)
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 Contact Details
Paragon Fine And Speciality Chemicals Limited
1001/1, Parshwa Tower, Near Pakvan Hotel
S.G. Highway, Bodakdev
Ahmedabad, 380054
Phone: +917935335483
Email: cs@paragonind.com
Website: https://www.paragonind.com/
Paragon Fine And Speciality Chemicals IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html