Paramount Speciality Forgings IPO Listing: Paramount Speciality Forgings share price made a strong stock market debut on Wednesday. Paramount Speciality Forgings shares were listed at ₹83.00 per share on NSE SME, a premium of 40.67% to the issue price of ₹59 per share.
Paramount Speciality Forgings IPO listing was better than market estimates. This is because the Paramount Speciality Forgings IPO GMP today, or grey market premium today, ahead of the listing was ₹17 per share, signalling listing at nearly 29% premium.
The initial public offering (IPO) of Paramount Speciality Forgings opened for subscription on Tuesday, September 17 and closed on Friday, September 20. The IPO allotment was finalized on September 23 and the Paramount Speciality Forgings IPO listing date is today. The equity shares of Paramount Speciality Forgings Ltd got listed on NSE SME.
Paramount Speciality Forgings IPO price band was set at ₹57 to ₹59 per share. At the upper-end of the price band, the company raised ₹32.34 crore from the book-built issue which was a combination of fresh issue of 48.02 lakh equity shares amounting to ₹28.33 crore and offer for sale (OFS) of 6.8 lakh shares worth ₹4.01 crore.
Paramount Speciality Forgings IPO was subscribed 73.88 times in total. The public issue was subscribed 41.35 times in the retail category, 20.88 times in Qualified Institutional Buyers (QIB) category, and 220.24 times in the Non-Institutional Investors (NII) category during its bidding period.
Swaraj Shares and Securities Private Limited is the book running lead manager of the Paramount Speciality Forgings IPO, while Purva Sharegistry India Pvt Ltd is the IPO registrar.
Paramount Speciality Forgings Ltd is a manufacturer of steel forgings and offers a diverse range of forged products. The company proposes to utilize the net issue proceeds towards funding capital expenditure through the purchase of machinery and equipment required for expansion at the Khopoli Plant and general corporate purposes.
