Paramount Speciality Forgings Limited IPO Details 2024!

The Paramount Speciality Forgings IPO is a book-built issue amounting to ₹32.34 crores. It comprises a fresh issue of 48.02 lakh shares, raising ₹28.33 crores, and an offer for sale of 6.8 lakh shares, worth ₹4.01 crores.

The IPO opens for subscription from September 17 to September 20, 2024. The allotment is expected to be finalized on Monday, September 23, 2024, with the listing on NSE SME scheduled for Wednesday, September 25, 2024.

The price band for the IPO is set between ₹57 and ₹59 per share. The minimum application size is 2,000 shares, requiring a retail investment of ₹118,000. High Net-Worth Individuals (HNIs) must apply for a minimum of 2 lots (4,000 shares) with an investment of ₹236,000.

Below are the details of Paramount Speciality Forgings IPO Details, Timeline, Lot Size, Anchor Investor, and Promoter Holding.

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Paramount Speciality Forgings IPO Details

IPO DateSeptember 17, 2024 to September 20, 2024
Listing Date[.]
Face Value₹10 per share
Price Band₹57 to ₹59 per share
Lot Size2000 Shares
Total Issue Size5,482,000 shares
(aggregating up to ₹32.34 Cr)
Fresh Issue4,802,000 shares
(aggregating up to ₹28.33 Cr)
Offer for Sale680,000 shares of ₹10
(aggregating up to ₹4.01 Cr)
Issue TypeBook Built Issue IPO
Listing AtNSE SME
Share holding pre issue14,880,000
Share holding post issue19,682,000
Market Maker portion276,000 shares

Paramount Speciality Forgings IPO Timeline

IPO Open DateTuesday, September 17, 2024
IPO Close DateFriday, September 20, 2024
Basis of AllotmentMonday, September 23, 2024
Initiation of RefundsTuesday, September 24, 2024
Credit of Shares to DematTuesday, September 24, 2024
Listing DateWednesday, September 25, 2024
Cut-off time for UPI mandate confirmation5 PM on September 20, 2024

Paramount Speciality Forgings IPO Lot Size

ApplicationLotsSharesAmount
Retail (Min)12000₹118,000
Retail (Max)12000₹118,000
HNI (Min)24,000₹236,000

Paramount Speciality Forgings IPO Reservations

Investor CategoryShares Offered
Anchor Investor Shares Offered
Market Maker Shares Offered2,76,000 (7.04%)
QIB Shares Offered10,40,000 (26.52%)
NII (HNI) Shares Offered7,82,000 (19.94%)
Retail Shares Offered18,24,000 (46.51%)
Total Shares Offered39,22,000 (100%)

Paramount Speciality Forgings IPO Promoter Holding

The Promoters of the company are Aliasgar Roshan Hararwala, Aliasgar Abdulla Bhagat, Mohammed Salim Hararwala, Abdulla Aliasgar Bhagat, Hoozefa Saleem Hararwala, Abbasali Salim Hararwala, Zahid Mohamadi Hararwala and Roshan Alihusain Hararwala.

Share Holding Pre Issue100.00%
Share Holding Post Issue72.15%

Paramount Speciality Forgings IPO Financial Information

Period Ended31 Mar 202431 Mar 202331 Mar 2022
Assets8,179.187,223.875,450.48
Revenue11,363.6211,224.19,243.16
Profit After Tax725.36275.84313.44
Net Worth2,291.491,566.141,970.49
Reserves and Surplus803.491,565.141,969.49
Total Borrowing2,492.822,027.651,176.93
Amount in ₹ Lakhs

Paramount Speciality Forgings IPO Review

Paramount Speciality Forgings Ltd. (PSFL) is a manufacturer of steel forgings, serving industries such as petrochemicals, oil and gas, and nuclear power. With two manufacturing facilities in Maharashtra, the company has expanded its operations since 1996.

The upcoming IPO aims to raise ₹32.34 crore, with ₹23.81 crore allocated for expanding its machinery. The issue price is set between ₹57-₹59 per share, and the IPO opens on September 17, 2024. While the company’s FY24 earnings show a significant boost in profit, concerns remain over its sustainability. The IPO is priced at a P/E of 15.99, which suggests it’s fully priced, making it a cautious buy for long-term investors.

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