The SME IPO of Paramount Speciality Forgings will open for subscription today and close on September 19. The company aims to raise nearly Rs 32 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.
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1) Paramount Speciality Forgings IPO size
The IPO is a combination of a fresh equity sale of 48 lakh shares and an offer for sale (OFS) of 6.8 lakh shares.
2) Paramount Speciality Forgings IPO price band
The company is offering its shares at Rs 57-59 apiece, and investors can bid for 2,000 shares in 1 lot.
3) Paramount Speciality Forgings GMP
In the unlisted market, the company’s shares had no GMP ahead of issue opening.
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4) About Paramount Speciality Forgings
The company is a manufacturer of steel forgings in India with a range of forged Products. Since inception in 1996, it has expanded business and scale of operations and has invested in an array of machinery to increase and diversify the production capabilities.
5) Industry overview
The forging industry is a key link between critical manufacturing segments–metal suppliers (both ferrous and non-ferrous) and end user industries. Over the years, the Indian forging industry has evolved from being a labor intensive industry to a capital-intensive manufacturing sector.
6) Paramount Speciality Forgings financial performance
For the year ended March 2024, the company clocked total revenues of Rs 112 crore and net profit of Rs 7.25 crore.
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7) Objects of the offer
The net proceeds from the public offer will be used for funding working capital requirements and general corporate purposes.
8) Lead managers and Registrar
Swaraj Shares is acting as the lead manager to the issue and Purva sharegistry is the registrar.
9) Issue structure
About 50% of the offer is reserved for QIB investors, 35% for retail investors, and the rest 15% for non-institutional investors.
10) Important dates
The IPO opened on September 17 and will close on September 19. The final allotment will likely be made on September 20. The company’s shares will likely get listed on September 24.
