PFSCL IPO: Paragon Fine And Speciality Chemicals IPO- Bid Date, Price Band, Lot Size, Listing Date, Financials

Paragon Fine And Speciality Chemicals IPO: The year 2023 has seen the debut of many exciting initial public offerings (IPOs) in the Indian stock market. One such IPO that has captured the attention of investors and market enthusiasts is the Paragon Fine And Speciality Chemicals IPO(PFSCL IPO). With a total issue size of 5,166,000 shares, aggregating up to ₹51.66 crores, this IPO offers a unique opportunity for investors to participate in the growth story of a company that specializes in custom synthesis and manufacturing of specialty chemical intermediates. In this comprehensive blog, we will take a closer look at Paragon Fine And Speciality Chemicals Limited, its IPO details, strengths, objectives, and what investors can expect from this offering.

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Paragon Fine And Speciality Chemicals IPO Details

PFSCL IPO Issue Dates and Listing Date

The Paragon Fine And Speciality Chemicals IPO opened for subscription on October 26, 2023, and is set to close on October 30, 2023. Investors eagerly awaiting the IPO’s listing can mark their calendars for Tuesday, November 7, 2023. The listing will occur on the NSE SME platform.

PFSCL IPO Face Value and Price Band

Each share of Paragon Fine And Speciality Chemicals carries a face value of ₹10. The IPO price band has been set at ₹95 to ₹100 per share. This range is designed to accommodate a diverse range of investors, from retail to high-net-worth individuals (HNI).

PFSCL IPO Lot Size and Minimum Investment

To participate in PFSCL IPO, retail investors need to apply for a minimum of 1 lot, which consists of 1200 shares, amounting to ₹120,000. HNIs, on the other hand, are required to apply for a minimum of 2 lots, totaling 2,400 shares, with an investment of ₹240,000.

PFSCL IPO ApplicationLotsSharesAmount
Retail (Min)11200₹120,000
Retail (Max)11200₹120,000
HNI (Min)22400₹240,000
Paragon IPO Lot Size

See Also: Upcoming IPO List

Paragon IPO Details Table

PFSCL IPO PFSCL IPODetailsDetails
IPO DateOctober 26, 2023 to October 30, 2023
Listing DateNovember 7, 2023
Face Value₹10 per share
Price Band₹95 to ₹100 per share
Lot Size1200 Shares
Total Issue Size5,166,000 shares (aggregating up to ₹51.66 Cr)
Fresh Issue5,166,000 shares (aggregating up to ₹51.66 Cr)
Issue TypeBook Built Issue IPO
Listing AtNSE SME
Share holding pre issue14,400,000
Market Maker portion261,600 shares
Paragon fine IPO Details

Paragon Fine And Speciality Chemicals IPO Reservation

The distribution of shares in this IPO is structured as follows:

  1. Qualified Institutional Buyers (QIBs) can subscribe to not more than 50% of the net issue.
  2. Retail investors are offered not less than 35% of the net issue.
  3. Non-Institutional Investors (HNIs) are also offered not less than 15% of the net issue.

About Paragon Fine And Speciality Chemicals Limited

Paragon Fine And Speciality Chemicals Limited is a company that has been actively engaged in the custom synthesis and manufacturing of specialty chemical intermediates since its incorporation in 2004. The company’s product range includes Pharma Intermediates, AGRO intermediates, Cosmetics Intermediates, Pigment Intermediates, and Dye Intermediates. These products serve a diverse customer base, both in India and across the globe.

One of the key strengths of the company is its manufacturing unit located in the Viramgam District, Ahmedabad, Gujarat. Covering approximately 7000 square meters, this facility is equipped with high-end reactors that are used for research and development purposes, particularly in the development of new products.

The company has a robust research and development team comprising 14 technocrats who have successfully carried out multi-step synthesis, resulting in the development of multiple new molecules in the field of specialty intermediates. As of March 31, 2023, the company boasts an extensive product portfolio of around 140 products.

Paragon Fine And Speciality Chemicals IPO Financials

Below is a chart summarizing the financial information for Paragon Fine And Speciality Chemicals Limited over the last three financial years, ending on March 31, 2023, 2022, and 2021.

Financial Information (Amount in ₹ Lakhs)31 Mar 202331 Mar 202231 Mar 2021
Assets7,097.845,750.534,983.26
Revenue10,501.198,457.928,436.94
Profit After Tax (PAT)989.21449.02439.77
Net Worth2,233.521,244.31795.29
Reserves and Surplus1,873.521,234.31785.29
Total Borrowing2,521.032,068.162,193.00
PFSCL IPO Fianncials
Paragon Fine And Speciality Chemicals IPO Financial Report

Paragon Fine IPO Financial Report Observations:

  1. Asset Growth: Paragon Fine And Speciality Chemicals Limited’s total assets have seen consistent growth over the years, from ₹4,983.26 lakhs in 2021 to ₹7,097.84 lakhs in 2023. This suggests expansion and investment in the business.
  2. Revenue Growth: The company’s revenue has also displayed an upward trend, with a significant increase from ₹8,436.94 lakhs in 2021 to ₹10,501.19 lakhs in 2023. This represents a growth of 24.16%, indicating a healthy top-line performance.
  3. Profitability: The most notable aspect is the profitability, with the profit after tax (PAT) surging from ₹439.77 lakhs in 2021 to ₹989.21 lakhs in 2023. This signifies a substantial increase of 120.3%, reflecting an improvement in the company’s bottom line.
  4. Net Worth and Reserves: The net worth of the company has grown significantly, from ₹795.29 lakhs in 2021 to ₹2,233.52 lakhs in 2023. Similarly, the reserves and surplus have also seen substantial growth, indicating a strong financial position.
  5. Total Borrowing: While the total borrowing increased slightly in 2023 compared to 2022, it is essential to note that the company’s internal accruals and improved profitability seem to have more than covered the additional borrowing.

These financial trends suggest that Paragon Fine And Speciality Chemicals Limited has been on a growth trajectory, with a focus on both top-line and bottom-line improvement. The significant rise in PAT is particularly encouraging, as it indicates the company’s ability to convert its growing revenue into higher profits.

Investors considering the Paragon Fine And Speciality Chemicals IPO may find these financial indicators attractive, as they suggest a company that is well-positioned for further expansion and profitability. However, as with any investment, it is important to conduct a thorough analysis and consider all relevant factors before making an informed decision.

Strengths of Paragon Fine And Speciality Chemicals IPO

  1. Wide Range of Customizable Products: Paragon Fine And Speciality Chemicals is known for its diverse range of products that can be customized to meet the specific needs of its customers.
  2. Focus on R&D: The company’s emphasis on research and development enables it to leverage complex chemistry and cutting-edge technology to create innovative solutions.
  3. Long-term Customer Relationships: With a customer base that spans various nationalities, the company has established enduring relationships, demonstrating its reliability and quality.
  4. In-house Manufacturing: The presence of an in-house manufacturing unit with advanced technologies and processes gives the company greater control over its production and quality.
  5. Experienced Management: The promoters and senior management of the company bring substantial domain knowledge and experience to the table, providing stability and guidance.

Paragon Fine And Speciality Chemicals IPO Objectives

The IPO proceeds are intended to be used for the following objectives:

  1. Funding Capital Expenditure for Existing Premises: The company plans to allocate funds towards the civil construction work in the existing factory premises.
  2. Expansion of Manufacturing Facility: Capital expenditure is also earmarked for civil construction work in Plot No 10/A, situated in Viramgam, Gujarat, which will support the company’s expansion plans.
  3. Repayment of Borrowings: A portion of the IPO funds will be used for the full or partial repayment of certain outstanding borrowings.
  4. Plant and Machinery Expansion: The company aims to invest in additional plant and machinery to facilitate its expansion.
  5. Working Capital Requirements: Some of the IPO funds will be allocated to meet the company’s working capital needs.
  6. General Corporate Purposes: The remaining funds will be used for general corporate purposes, allowing for flexibility in addressing evolving business requirements.

Paragon Fine And Speciality Chemicals IPO Registrar

The registrar for the Paragon Fine And Speciality Chemicals IPO is Bigshare Services Pvt Ltd. You can reach them at the following contact details:

Lead Manager for Paragon Fine And Speciality Chemicals IPO

The lead manager for this IPO is Hem Securities Limited. They play a crucial role in managing and overseeing the entire IPO process.

Paragon Fine And Speciality Chemicals IPO PFSCL

Conclusion

The Paragon Fine And Speciality Chemicals IPO in 2023 presents an exciting opportunity for investors to become a part of the growth story of a company with a diverse product portfolio and a strong focus on research and development. The company’s emphasis on customized solutions and the strength of its in-house manufacturing unit set it apart in the specialty chemicals sector. With a clear allocation of IPO funds for expansion, debt reduction, and working capital, the company appears to be well-positioned to capitalize on its growth potential.

As with any investment, it’s essential for prospective investors to conduct thorough due diligence, assess their risk tolerance, and consider their investment goals before participating in the Paragon Fine And Speciality Chemicals IPO. This IPO, with its unique strengths and objectives, has the potential to be a significant milestone in the journey of Paragon Fine And Speciality Chemicals Limited.

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