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Business News/ Markets / Ipo/  Paragon Fine share price makes a stellar debut; stock lists at 125% premium at 225 on NSE SME
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Paragon Fine share price makes a stellar debut; stock lists at 125% premium at ₹225 on NSE SME

Paragon Fine and Speciality Chemicals shares debut on NSE SME at ₹225 per share, 125% higher than the issue price of ₹100.

Paragon Fine And Speciality Chemicals IPO lists on NSE SME todayPremium
Paragon Fine And Speciality Chemicals IPO lists on NSE SME today

Paragon Fine And Speciality Chemicals IPO listing date: Paragon Fine and Speciality Chemicals shares made a stellar debut on NSE SME today. On NSE SME, Paragon Fine and Speciality Chemicals share price today was listed at 225 per share, 125% higher than the issue price of 100.

Paragon Fine And Speciality Chemicals IPO's price band was set in the range of 95 to 100 and investors can bid for a minimum of 1200 shares and in multiples thereof.

Paragon Fine And Speciality Chemicals IPO reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors.

Paragon Fine and Speciality Chemicals is engaged in the production of highly complex and differentiated specialty chemical intermediates through custom synthesis. The company produces pigment intermediates, dye intermediates, pharma intermediates, AGRO intermediates, and cosmetic intermediates for a wide range of Indian and international clients.

Paragon Fine IPO details

Paragon Fine And Speciality Chemicals IPO, which is worth 51.66 crore, is completely a fresh issue of 5,166,000 equity share; there is no offer for sale (OFS) component, according to Red Herring Prospectus (RHP).

The company wants to use the proceeds of the issue to fund the following projects: - finance capital expenditure for civil construction work in Gujarat; finance capital expenditure for work in the existing factory premises; Repay some of our outstanding debts in full or in part; fund capital expenditure for the installation of new equipment and machinery for expansion; fund for working capital needs; General Corporate Purpose.

The company's promoters are Vallabh Ratanji Savaliya, Rutesh Vallabhbhai Savalia, Shivam Kishorbhai Patolia, Vallabh Jasmat Vasolia, and Kishorkumar Panchabhai Patolia. The shareholding pattern of the promoters and promoter group before the issue is 100%and after the issue is set at 73.60%.

Also Read: Paragon Fine And Speciality Chemicals IPO Day 3: Issue subscribed over 205 times, all portions booked; check latest GMP

Paragon Fine And Speciality Chemicals IPO GMP today

Paragon Fine IPO GMP today or grey market premium is +105. This indicates Paragon Fine share price were trading at a premium of 105 in the grey market on Friday, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Paragon Fine share price was indicated at 205 apiece, which is 105% higher than the IPO price of 100.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Also Read: Paragon Fine And Speciality Chemicals IPO allotment finalised; here’s how to check allotment status

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 03 Nov 2023, 10:02 AM IST
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