Paragon Fine And Speciality Chemicals IPO will open for subscription from 26 October 2023. The company aims for an issue size of ₹51.66 Cr through this IPO.
Company Overview
| Full name | Paragon Fine And Speciality Chemicals Limited |
| Sector | Chemicals |
| Industry | Chemicals |
| Company Website | https://www.paragonind.com/ |
About Company
Incorporated in 2018, Paragon Fine and Speciality Chemical is engaged in the business of custom synthesis and manufacturing of speciality chemical intermediates involving complex and differentiated chemistry. It commenced business as a partnership firm in the year 2004 and evolved into custom synthesis and manufacturing of Pharma Intermediates, AGRO intermediates, Cosmetics Intermediates, Pigment Intermediates Dye Intermediates, etc. Its diverse range of products finds applications across various industries, including pharma, agrochemicals, cosmetics, pigments, and dyes.
The company expanded its commercialized product portfolio from around 100 products in FY 2021 to around 140 products in FY 2023. As of 31 March 2023, the company has a team of 14 technocrats and exported to countries like the USA, Israel, Spain, United Kingdom, China, Switzerland, Taiwan, Thailand, Mexico, Japan, Russia, France, Indonesia, Latvia, Germany, etc.
The Objectives of the Issue
- Funding capital expenditure towards civil construction work in the existing premises of the factory
- Funding capital expenditure towards civil construction work in Plot No 10/A, Situated at Survey No. 1359, 1360 Village-Viramgam Taluka- Viramgam, District-Ahmedabad-382150, Gujarat.
- Repayment in full or in part, of certain of our outstanding borrowings
- Funding Capital Expenditure towards the installation of additional plant and machinery for Expansion.
- Funding to meet working capital requirements
- General Corporate Purpose.
Paragon Fine And Speciality Chemicals IPO Timetable
| IPO Opening date | 26 October 2023 |
| IPO Closing | 30 October 2023 |
| Basis of Allotment | 02 November 2023 |
| Initiation Refund | 03 November 2023 |
| Credit to Demat Account | 06 November 2023 |
| Listing Date | 07 November 2023 |
Paragon Fine And Speciality Chemicals IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹51.66 Cr – 5,166,000 shares |
| Fresh Issue | ₹51.66 Cr – 5,166,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹95 to ₹100 per share |
| Lot size | 1200 Shares |
| Market Maker portion | 261,600 shares |
| Shareholding pre-issue | 14,400,000 |
| Shareholding post-issue | 19,566,000 |
| Listing Exchange | NSE SME |
Paragon Fine And Speciality Chemicals IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹120,000 |
| Retail (Max) | 1 | 1200 | ₹120,000 |
| HNI (Min) | 2 | 2,400 | ₹240,000 |
Paragon Fine And Speciality Chemicals IPO Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Paragon Fine And Speciality Chemicals Financial Performance
| FY 2021 | FY 2022 | FY 2023 | Q1 FY 2024 | |
| Revenue | 83.26 | 82.83 | 102.27 | 28.79 |
| Expenses | 78.34 | 78.41 | 91.45 | 24.14 |
| Net income | 4.40 | 4.49 | 9.89 | 3.62 |
Paragon Fine And Speciality Chemicals Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 3.05 | 3.12 | 6.87 |
| PE ratio | – | – | 13.83 – 14.56 |
| RONW (%) | 55.30 | 36.09 | 44.29 |
| NAV | 5.52 | 8.64 | 15.51 |
| ROCE (%) | 33.44 | 24.90 | 38.86 |
| EBITDA (%) | 7.40 | 6.77 | 12.49 |
| Debt/Equity | 2.76 | 1.66 | 1.13 |
Company Promoters
- Dr. Pravinchandra Jasmat Vasolia
- Kishorkumar Panchabhai Patolia
- Vallabh Ratanji Savaliya
- Rutesh Vallabhbhai Savalia
- Shivam Kishorbhai Patolia.
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 73.60% |
Lead Manager(s)
HEM SECURITIES LIMITED
904, A Wing, Naman Midtown, Senapati Bapat Marg,
Elphinstone Road, Lower Parel, Mumbai-400013
Phone: +91- 022- 49060000
Email: ib@hemsecurities.com
Website: www.hemsecurities.com
Paragon Fine And Speciality Chemicals Registrar
BIGSHARE SERVICES PRIVATE LIMITED
S6-2, 6th Floor, Pinnacle Business Park,
Next to Ahura Centre, Mahakali,
Caves Road, Andheri East, Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Contact Details
PARAGON FINE AND SPECIALITY CHEMICAL LIMITED
1001/1, Parshwa Tower, Near Pakvan Hotel,
S.G. Highway, Bodakdev, Ahmedabad, Gujarat-380054
Phone: +917935335483
E-mail: info1@paragonind.com
Website: www.paragonind.com
Paragon Fine And Speciality Chemicals IPO Allotment Status
Paragon Fine IPO allotment status will be available on Bigshare Services’ website. Click on this link to get allotment status.
Final thoughts
Paragon Fine And Speciality Chemicals IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
