The season of SMEs or Small and Medium Enterprises, and their foray into Dalal Street is only strengthening. Joining the long list of SMEs trying to make the most of the ever-expanding appetite for small and medium companies is Paramount Speciality Forgings Ltd.
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About The Company
The Maharashtra-based company was incorporated in 1994. It specialises in manufacturing a different variety of forged products. Here, under extreme pressure, forged items, also known as forgings, are pounded, crushed, or pressed into high-strength pieces that are more durable than cast or machined parts.
Furthermore, the company has two manufacturing facilities. One of the said facilities is located on one in Kamothe and the second one in Khalapur, Maharashtra.
According to the company, it intends to use this avenue of the issue for capital expenditure through the purchase of machinery and equipment required for expansion at the Khopoli Plant, which is located close to Mumbai.
What is On Offer?
This SME IPO has an issue price of Rs 32.34 crore. The face value of the share stands at Rs 10 per share. The price band of the IPO is at Rs 57 to Rs 59 per share. This has a total lot size of 2000 shares. When we look at the total issue size, it stands at 5,482,000 shares.
This amounts to Rs 32.34 crore. The fresh issue stands at 4,802,000 shares, with an aggregating value of Rs 28.33 crore.
Dates To Remember
The Initial Public Offering (IPO) opens the gates for subscription on Tuesday, September 17. The time to subscribe would conclude Thursday, September 19. The tentative date for allotment is Friday, September 20. The day for initiation of refunds is set to be on Monday, September 23.
The shares may be credited to the investor’s Demat account on the same day. Finally, the company may be listed to the equity markets, the NSE SME, on Tuesday, September 24 (tentative).
Here, under extreme pressure, forged items, also known as forgings, are pounded, crushed, or pressed into high-strength pieces that are more durable than cast or machined parts.
Key Notes On Company
Paramount Speciality Forgings IPO has a market capitalisation of Rs 116.12 crore.
Objectives
According to the company, it intends to use this avenue of the issue for capital expenditure through the purchase of machinery and equipment required for expansion at the Khopoli Plant, which is located close to Mumbai.
In addition, the company intends to use the issue for ‘General Corporate purposes’.
Company Website: https://paramountforge.com/
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investing in IPOs involves risks and potential volatility. Readers are advised to conduct their own research and consult a financial advisor before making investment decisions. The author and publisher are not responsible for any financial losses incurred by readers.
