Bookbuilding IPO | ₹52 Cr | Listed at NSE SME | Thu, Oct 26, 2023 - Mon, Oct 30, 2023
Paragon Fine IPO is a book build issue of ₹51.66 crores. The issue is entirely a fresh issue of 0.52 crore shares of ₹51.66 crore.
Paragon Fine IPO bidding started from Oct 26, 2023 and ended on Oct 30, 2023. The allotment for Paragon Fine IPO was finalized on Nov 2, 2023. The shares got listed on NSE SME on Nov 3, 2023.
Paragon Fine IPO price band is set at ₹100 per share. The lot size for an application is 1,200. The minimum amount of investment required by an retail is ₹1,20,000 (1200 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (2,400 shares), amounting to ₹2,40,000.
Hem Securities Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Hem Finlease Pvt.Ltd..
Refer to Paragon Fine IPO RHP for detailed Information.
IPO Open
Thu, Oct 26, 2023
IPO Close
Mon, Oct 30, 2023
Issue Price
₹100 per share
Market Cap (Pre-IPO)
₹195.66 Cr
| IPO Date | 26 to 30 Oct, 2023 |
| Listed on | Fri, Nov 3, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹95 to ₹100 |
| Issue Price | ₹100 per share |
| Lot Size | 1,200 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 51,66,000 shares (agg. up to ₹52 Cr) |
| Reserved for Market Maker | 2,61,600 shares Hem Finlease Pvt.Ltd. (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 49,04,400 shares (agg. up to ₹49 Cr) |
| Net Offered to Public | 49,04,400 shares (agg. up to ₹49 Cr) |
| Share Holding Pre Issue | 1,44,00,000 shares |
| Share Holding Post Issue | 1,95,66,000 shares |
| NSE Symbol | PARAGON |
| ISIN | INE0N4G01012 |
Paragon Fine IPO comprises a total issue size of 51,66,000 shares. The net offer to the public is 49,04,400 shares, after excluding 2,61,600 shares allotted on a firm basis. Of the Net offer 24,51,600 (49.99%) are allocated to QIB, 7,35,600 (15.00%) allocated to NII 17,17,200 (35.01%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 24,51,600 | 49.99% | 47.46% |
| − Anchor Investor Shares Offered | 14,70,000 | 28.46% | |
| − QIB (Ex. Anchor) Shares Offered | 9,81,600 | 19.00% | |
| NII (HNI) Shares Offered | 7,35,600 | 15.00% | 14.24% |
| Retail Shares Offered | 17,17,200 | 35.01% | 33.24% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,61,600 | 5.06% | |
| Total Shares Offered | 51,66,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,200 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹1,20,000 |
| Retail (Max) | 1 | 1,200 | ₹1,20,000 |
| HNI (Min) | 2 | 2,400 | ₹2,40,000 |
Paragon Fine IPO raises ₹14.70 crore from anchor investors. Paragon Fine IPO Anchor bid date is October 25, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Oct 25, 2023 |
| Shares Offered | 14,70,000 |
| Anchor Portion (₹ Cr.) | 14.70 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Dec 2, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Jan 31, 2024 |
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:
| Period Ended | 30 Jun 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 74.12 | 70.98 | 57.51 | 49.83 |
| Total Income | 29.00 | 105.01 | 84.58 | 84.37 |
| Profit After Tax | 3.62 | 9.89 | 4.49 | 4.40 |
| NET Worth | 25.96 | 22.34 | 12.44 | 7.95 |
| Reserves and Surplus | 22.36 | 18.74 | 12.34 | 7.85 |
| Total Borrowing | 27.10 | 25.21 | 20.68 | 21.93 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding capital expenditure towards civil construction work in the existing premises of factory | 1.00 |
| 2 | Repayment in full or in part, of certain of the outstanding borrowings | 12.90 |
| 3 | Funding Capital Expenditure towards installation of additional plant and machinery for Expansion | 7.87 |
| 4 | Funding to meet working capital requirements | 13.00 |
| 5 | General Corporate Purpose | 12.21 |
| KPI | |
|---|---|
| ROE | 56.89% |
| ROCE | 38.86% |
| RoNW | 44.29 |
| PAT Margin | 9.67% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 6.87 | |
| P/E (x) | 14.56 | 13.51 |
| Promoter Holding | 100% | 73.60% |
| Market Cap | ₹195.66 Cr. |
The Paragon Fine And Speciality Chemicals IPO is subscribed 205.74 times on October 30, 2023 7:29:00 PM (Day 3). The public issue subscribed 185.28 times in the retail category, 81.38 times in the QIB category, and 419.46 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 81.38 | 9,81,600 | 7,98,80,400 |
| NII* | 419.46 | 7,35,600 | 30,85,51,200 |
| Retail | 185.28 | 17,17,200 | 31,81,65,600 |
| Total | 205.74 | 34,34,400 | 70,65,97,200 |
Total Application : 2,65,138
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Manger Fees | 0.52 |
| 2 | Fees Payable to Registrar to the Issue | 0.03 |
| 3 | Fees Payable for Advertising and Publishing Expenses | 0.35 |
| 4 | Fees Payable to Regulators including Stock Exchanges | 0.07 |
| 5 | Payment for Printing & Stationery, Postage, etc. | 0.03 |
| 6 | Fees Payable to Auditor, Legal Advisors and other Professionals | 0.09 |
| 7 | Others (Fees payable for Marketing & distribution expenses, Selling Commission, Brokerage, Processing Fees*, Underwriting fees and Miscellaneous Expenses) | 3.60 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹100.00 |
| Open | ₹225.00 |
| Low | ₹213.75 |
| High | ₹236.00 |
| Last Trade | ₹213.75 |
Lead Manager Reports
Paragon Fine IPO is a SME IPO of 51,66,000 equity shares of the face value of ₹10 aggregating up to ₹52 Crores. The issue is priced at ₹100 per share. The minimum order quantity is 1200.
The IPO opens on Thu, Oct 26, 2023, and closes on Mon, Oct 30, 2023.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Paragon Fine IPO using UPI as a payment gateway. Zerodha customers can apply in Paragon Fine IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Paragon Fine IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Paragon Fine IPO opens on Thu, Oct 26, 2023 and closes on Mon, Oct 30, 2023.
Paragon Fine IPO lot size is 1200, and the minimum amount required for application is ₹1,20,000.
You can apply in Paragon Fine IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Paragon Fine IPO will be done on Thursday, November 2, 2023, and the allotted shares will be credited to your demat account by Mon, Nov 6, 2023. Check the Paragon Fine IPO allotment status.
The Paragon Fine IPO listing date is on Fri, Nov 3, 2023.
