Paramount Speciality Forgings IPO Subscription Status

Paramount Speciality Forgings' initial public offering (IPO) has garnered strong investor interest, with subscription rates increasing steadily over the four-day period. Starting modestly on day one, the IPO witnessed a surge in demand, resulting in a 9.10 times oversubscription by 11:34:01 AM on day four. This response underscores the market appetite for Paramount Speciality Forgings' shares and sets the stage for a potentially dynamic listing.

The IPO, which opened on 17th September 2024, has seen significant growth in investor participation across all categories. Paramount Speciality Forgings attracted bids for 3,31,72,000 equity shares amounting to ₹195.71 crore.

The Retail Investors segment, in particular, has shown overwhelming demand, followed by strong interest from Non-Institutional Investors (NII). The Qualified Institutional Buyers (QIB) have also shown moderate participation.

Subscription Status of Paramount Speciality Forgings IPO for Days 1, 2, 3, and 4:

Note: Market Maker portion is not included in NII/HNI.

Subscription details for Paramount Speciality Forgings IPO as of Day 4 (20th September 2024, 11:34:01 AM):

Total Applications: 13,050

Note: The total amount is calculated based on the upper price of the issue price range.

Key Highlights:

• The IPO of Paramount Speciality Forgings is currently subscribed 9.10 times, with exceptional demand from Retail Investors.
• Retail investors have shown overwhelming interest, with a subscription ratio of 14.31 times.
• Non-Institutional Investors (NII) have demonstrated strong enthusiasm, with a subscription ratio of 7.09 times.
• Qualified Institutional Buyers (QIB) have shown moderate interest, with a subscription ratio of 1.47 times.
• The overall subscription trend increases day-on-day, indicating high investor confidence and positive sentiment towards the issue.

Paramount Speciality Forgings IPO - Day 3 Subscription at 6.53 Times

Key Highlights:

• On Day 3, Paramount Speciality Forgings' IPO was subscribed 6.53 times, with strong demand from Retail Investors.
• Retail investors showed significantly increased interest with a subscription ratio of 10.52 times.
• Non-Institutional Investors (NII) showed increased interest with a subscription ratio of 3.96 times.
• Qualified Institutional Buyers (QIB) showed moderate interest with a subscription ratio of 1.47 times.
• The overall subscription trend indicated building momentum, with all investor categories showing increased participation.

Paramount Speciality Forgings IPO - Day 2 Subscription at 3.66 Times

Key Highlights:

• On Day 2, Paramount Speciality Forgings' IPO was subscribed 3.66 times, with continued strong demand from Retail Investors.
• Retail investors showed increased interest with a subscription ratio of 5.98 times.
• Non-Institutional Investors (NII) showed moderate interest with a subscription ratio of 1.60 times.
• Qualified Institutional Buyers (QIB) maintained their interest with a subscription ratio of 1.14 times.
• The overall subscription trend indicated growing momentum, with retail category showing significant increased participation.

Paramount Speciality Forgings IPO - Day 1 Subscription at 2.00 Times

Key Highlights:

• The IPO of Paramount Speciality Forgings was subscribed 2.00 times on Day 1, with initial demand across all investor categories.
• Retail investors showed early strong interest with a subscription ratio of 2.87 times.
• Qualified Institutional Buyers (QIB) showed initial interest with a subscription ratio of 1.14 times.
• Non-Institutional Investors (NII) showed moderate initial interest with a subscription ratio of 1.12 times.
• The first-day response laid a strong foundation for the remaining days of the IPO, with expectations of increased participation in the following days.

About Paramount Speciality Forgings Ltd:

• Paramount Speciality Forgings Limited, incorporated in 1994, is a manufacturer of steel forgings in India, offering a diverse range of forged products.
• Key features of Paramount Speciality Forgings:
• Manufactures forged products for various industrial applications including petrochemicals, chemicals, fertilizers, oil and gas, nuclear power, and heavy engineering sectors
• Has two manufacturing facilities in Maharashtra (Kamothe and Khalapur)
• Products include Tube Sheet Blanks, Forged Rings, Spacers, Girth Flanges, Tyre Rings, Self-reinforced nozzles, and more
• ISO 9001-2008, ISO 14001-2004, and BS OHSAS 18001-2007 certified
• Focuses on quality improvement and automation in manufacturing processes
• Reported revenue of ₹113.64 crore and PAT of ₹7.25 crore for FY 2024

Highlights of the Paramount Speciality Forgings IPO:

Read more about Paramount Speciality Forgings IPO

• IPO Date: 17th September 2024 to 20th September 2024
• Listing Date: 25th September 2024 (Tentative)
• Face Value: ₹10 per share
• Price Band: ₹57 to ₹59 per share
• Lot Size: 2000 Shares
• Total Issue Size: 5,482,000 shares (aggregating up to ₹32.34 Cr)
• Fresh Issue: 4,802,000 shares (aggregating up to ₹28.33 Cr)
• Offer for Sale: 680,000 shares (aggregating up to ₹4.01 Cr)
• Issue Type: Book Built Issue IPO
• Listing At: NSE SME
• Book Running Lead Manager: Swaraj shares and securities private limited
• Registrar: Purva Sharegistry India Pvt Ltd
• Market Maker: Shreni Shares