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 Date | September 17, 2024 to September 20, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹57 to ₹59 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 5,482,000 shares (aggregating up to ₹32.34 Cr) |
| Fresh Issue | 4,802,000 shares (aggregating up to ₹28.33 Cr) |
| Offer for Sale | 680,000 shares of ₹10 (aggregating up to ₹4.01 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 14,880,000 |
| Share holding post issue | 19,682,000 |
| Market Maker portion | 276,000 shares |
Paramount Speciality Forgings IPO Timeline
| IPO Open Date | Tuesday, September 17, 2024 |
| IPO Close Date | Friday, September 20, 2024 |
| Basis of Allotment | Monday, September 23, 2024 |
| Initiation of Refunds | Tuesday, September 24, 2024 |
| Credit of Shares to Demat | Tuesday, September 24, 2024 |
| Listing Date | Wednesday, September 25, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 20, 2024 |
Paramount Speciality Forgings IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹118,000 |
| Retail (Max) | 1 | 2000 | ₹118,000 |
| HNI (Min) | 2 | 4,000 | ₹236,000 |
Paramount Speciality Forgings IPO Reservations
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 2,76,000 (7.04%) |
| QIB Shares Offered | 10,40,000 (26.52%) |
| NII (HNI) Shares Offered | 7,82,000 (19.94%) |
| Retail Shares Offered | 18,24,000 (46.51%) |
| Total Shares Offered | 39,22,000 (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 Issue | 100.00% |
| Share Holding Post Issue | 72.15% |
Paramount Speciality Forgings IPO Financial Information
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | |||||||||||||||||||||||||||
| Assets | 8,179.18 | 7,223.87 | 5,450.48 | |||||||||||||||||||||||||||
| Revenue | 11,363.62 | 11,224.1 | 9,243.16 | |||||||||||||||||||||||||||
| Profit After Tax | 725.36 | 275.84 | 313.44 | |||||||||||||||||||||||||||
| Net Worth | 2,291.49 | 1,566.14 | 1,970.49 | |||||||||||||||||||||||||||
| Reserves and Surplus | 803.49 | 1,565.14 | 1,969.49 | |||||||||||||||||||||||||||
| Total Borrowing | 2,492.82 | 2,027.65 | 1,176.93 | |||||||||||||||||||||||||||
| 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.