The Paramount Speciality Forgings Limited IPO has garnered significant attention as it opens up for investors. Here’s a detailed look into the key aspects of this IPO, its subscription status, financial performance, and more.
Paramount Speciality Forgings Limited IPO Overview
The Paramount Speciality Forgings Limited IPO is set to raise ₹32.34 crore, with ₹28.33 crore allocated as a fresh issue and ₹4.01 crore through an Offer for Sale (OFS). The company has priced its shares between ₹57 and ₹59 per share, with a minimum bid of 2,000 shares per lot.
Important Dates
- IPO Opening Date: September 17, 2024
- IPO Closing Date: September 19, 2024
- Allotment Date: September 20, 2024
- Listing Date: September 24, 2024 (on NSE SME platform)
Here’s a breakdown of the IPO offer:
| IPO Size | Fresh Issue | Offer for Sale (OFS) |
|---|---|---|
| ₹32.34 crore | ₹28.33 crore | ₹4.01 crore |
Paramount Speciality Forgings Limited IPO Subscription Status
The Paramount Speciality Forgings Limited IPO has seen varied interest from different investor categories. As of the first day of subscription:
- Qualified Institutional Buyers (QIBs): 0x
- Retail Individual Investors (RII): 0.83x
- Non-Institutional Investors (NII): 0.22x
- Overall Subscription: 0.45x
This data reflects moderate interest in the IPO on its opening day, with retail investors showing the most enthusiasm so far.
GMP Today for Paramount Speciality Forgings Limited IPO
As of September 19, 2024, the Grey Market Premium (GMP) for the Paramount Speciality Forgings Limited IPO stands at ₹0. This indicates that there is no premium expected on the IPO price of ₹59 per share in the grey market, suggesting a neutral sentiment among investors regarding its initial listing.
GMP Overview:
| Date | Grey Market Premium (GMP) |
|---|---|
| September 19, 2024 | ₹0 |
Financial Performance of Paramount Speciality Forgings Limited
Paramount Speciality Forgings has shown steady growth over the past few years. For the fiscal year ending March 2024, the company reported impressive revenue and profit figures.
Financial Highlights for FY 2024:
- Total Revenue: ₹113.6 crore
- Net Profit: ₹7.25 crore (a substantial increase from ₹2.75 crore in the previous year)
The following table summarizes the company’s financial performance over recent years:
| Year Ending | Total Revenue (₹ Crore) | Net Profit (₹ Crore) |
|---|---|---|
| March 2021 | 52 | -1 |
| March 2022 | 88 | 4 |
| March 2023 | 110 | 2.75 |
| March 2024 | 113 | 7.25 |
Paramount Speciality Forgings Limited IPO: Use of Proceeds
The funds raised through the Paramount Speciality Forgings Limited IPO will be utilized for:
- Capital expenditures, including the purchase of machinery and equipment to expand their Khalapur plant.
- General corporate purposes to support future growth and operations.
This investment in machinery and technology is expected to increase the company’s production capabilities, which will likely contribute to revenue growth in the coming years.
Future Outlook for Paramount Speciality Forgings Limited
The Paramount Speciality Forgings Limited IPO represents a key opportunity for investors to engage with a growing company in the steel forging sector. The company has a strong presence in industries like petrochemicals, oil and gas, and heavy engineering. With the capital raised from this IPO, Paramount is well-positioned to enhance its operations and expand its market presence.
In summary, the Paramount Speciality Forgings Limited IPO presents a compelling investment opportunity, especially for those looking to capitalize on the growth in the forging industry. Although current GMP indicates neutral sentiment, the company’s strong financials and strategic growth plans make it a stock to watch.
This IPO remains open for subscription until September 19, 2024, with the listing scheduled for September 24, 2024.
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