IPO Details

Bidding Dates

25 Oct '23 - 29 Oct '23

Minimum Investment

₹120,000 / 1 Lots ( 1200 Shares )

Price Range

₹95 - ₹100

Maximum Investment

₹120,000 / 1 Lots ( 1200 Shares )

Retail Discount

Not Applicable

Issue Size

₹51.66 Cr

Investor category and sub category

Qualified Institutions Buyers  |   Non-Institutional Buyers  |   Retail Investors   |  

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Oct 25, 2023

IPO Closing Date

Oct 29, 2023

Basis of Allotment

Nov 1, 2023

Initiation of Refunds

Nov 2, 2023

Credit of Shares to Demat Account

Nov 5, 2023

IPO Listing Date

Nov 6, 2023

UPI Mandate Expiry Date

Oct 29, 2023

Paragon Fine And Speciality Chemicals IPO Subscription Details

DateQIBNIIRetailTotal

Day 1Oct 25, 2023

 2.71x 14.09x 16.78x 12.18x

Day 2Oct 26, 2023

 14.64x 39.09x 49.25x 37.18x

Day 3Oct 29, 2023

 81.38x 419.46x 185.28x 205.74x

Paragon Fine And Speciality Chemicals IPO Subscription Live Status

Investor Category Subscription (Times)
Qualified Institutions buyers 81.38
Non-Institutional Buyers 419.46
Retail Investors 185.28
Total 205.74

About Paragon Fine and Speciality Chemical Ltd

Paragon Fine and Speciality Chemicals commenced business as a partnership firm in the year 2004 and have, over the years, evolved into custom synthesis and manufacturing of pharma intermediates, agro-intermediates, cosmetics intermediates, pigment intermediates and dye intermediates, etc., for a diverse base of Indian and global customers.

They have been exporting to countries like the USA, Israel, Spain, the United Kingdom, China, Switzerland, Taiwan, Thailand, Mexico, Japan, Russia, France, Indonesia, Latvia, Germany, etc. As of March 31, 2023, their 

portfolio comprised around 140 products.

The shutdown of multiple Chinese chemical companies in 2018 and the increasing domestic demand in recent times have boosted the Indian chemical industry. Indian manufacturers have recorded a CAGR of 11% in revenue between FY 2015 and FY 2021. This presents a good opportunity for chemical manufacturers like Paragon to expand in the coming years.

Paragon Fine and Speciality Chemical Ltd IPO Details

Paragon Fine and Speciality Chemical Ltd IPO Date

The dates for bidding for the Paragon Fine and Speciality Chemical  IPO are October 26, 2023, to October 30, 2023.

Paragon Fine and Speciality Chemical Ltd IPO Price Band 

Paragon Fine and Speciality Chemical is a book-built IPO with a price range of ₹95 to ₹100 per share.

Paragon Fine and Speciality Chemical Ltd IPO Lot Size

The Paragon Fine and Speciality Chemical Ltd IPO lot size is 1,200 shares.

Paragon Fine and Speciality Chemical Ltd IPO Objectives 

The net proceeds of the fresh issue are proposed to be utilised in the following manner:

  1. Funding capital expenditure towards civil construction work in the existing premises of the factory.
  2. Repayment, in full or in part, of certain outstanding borrowings.
  3. Funding capital expenditure towards the installation of additional plant and machinery for expansion.
  4. Funding to meet working capital requirements.
  5. General corporate purpose.

Peer Details

The company’s peers include:

  1. Aether Industries Ltd
  2. Anupam Rasayan India Ltd
  3. Bodal Chemicals Ltd
  4. Deepak Nitrite Ltd

How to Check the Allotment Status of the Paragon Fine and Speciality Chemical Ltd IPO?

A:  Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the individual order details page of the IPO that you applied for. 
  • Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.

Contact Details of Paragon Fine and Speciality Chemical Ltd 

Registered office: 1001/1, Parshwa Tower, Near Pakvan Hotel, S.G. Highway, Bodakdev, Ahmedabad, Gujarat- 380054, India

Phone: +917935335483

E-mail: cs@paragonind.com 

Paragon Fine and Speciality Chemical Ltd Company Financials

Particulars Year Ending on March 31, 2023 (₹ lakhs) Year Ending on March 31, 2022 (₹ lakhs) Year Ending on March 31, 2021 (₹ lakhs)
Total Income 10,501.19 8,457.92 8,436.94
Profit After Tax 989.21 449.02 439.77
Return on Capital Employed 38.86% 24.90% 33.44%
Debt Service Coverage Ratio 25.89 28.62 24.14
Current Ratio 1.81 1.53 1.44

Know before investing

Strengths

3

  1. They have a very wide range of products already. They also have the capability to customise their products as per the client’s needs, allowing them to make use of more opportunities.

  2. They have a very wide global audience and brand name. As of March 31, 2023, their product portfolio was sold to over 13 global customers spread in 12 countries and to around 75 domestic customers.

  3. Their clients are also fairly diversified. Their top 10 clients took up 28.16%, 57.33% and 39.15% of their total revenue in FY 2023, FY 2022 and FY 2021.

Risks

3

  1. They have a single manufacturing facility in Viramgam District, Ahmedabad, Gujarat. Any disruption in its operations may destabilise the company’s supply chain.

  2. Their manufacturing process involves the use of multiple hazardous substances. Their requirements of proper handling and disposal create a risk of potential disasters or environmental issues.

  3. They do not have any long-term contracts with their customers.

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Paragon Fine and Speciality Chemical IPO FAQs

What is Paragon Fine and Speciality Chemical Ltd's IPO?

Paragon Fine and Speciality Chemical  IPO is a book-built IPO. The dates for the IPO are October 26, 2023, to October 30, 2023.

When will Paragon Fine and Speciality Chemical Ltd's IPO be allotted?

The allotment date for the IPO is Thursday, November 2, 2023.

When will Paragon Fine and Speciality Chemical Ltd's IPO open for subscription?

The IPO subscription window is October 26, 2023, to October 30, 2023.

What minimum lot size can retail investors subscribe to?

The lot size for the IPO is 1,200 shares.

When will Paragon Fine and Speciality Chemical Ltd list on exchanges?

Paragon Fine and Speciality Chemical Ltd IPO will be listed on the NSE and the BSE. The dates for the IPO have not been announced yet.

How do I check the allotment status of the Paragon Fine and Speciality Chemical Ltd IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app.
  • Go to the individual order details page of the IPO that you applied for. 
  • Check the IPO allotment status as such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.

What would be the listing gains on the Paragon Fine and Speciality Chemical Ltd IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange. The date of listing has not been announced yet.

I have finished the application process for the Paragon Fine and Speciality Chemical Ltd IPO, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you. 

 

How do I approve the UPI mandate request for Paragon Fine and Speciality Chemical Ltd's IPO?

You must complete the payment process by logging in to your UPI handle and approving the payment mandate.

Can I submit more than one application for the public issue of Paragon Fine and Speciality Chemical Ltd using one PAN?

You can submit only one application using your PAN card.