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Paragon Fine and Speciality Chemicals IPO

  • Status: Closed
  • RHP:
  • ₹ 114,000 / 1200 shares

    Minimum Investment

IPO Details

  • Open Date

    26 Oct 2023

  • Close Date

    30 Oct 2023

  • IPO Price Range

    ₹ 95 to ₹ 100

  • IPO Size

    ₹ 51.66 Cr

  • Listing Exchange

    NSE SME

  • Listing Date

    07 Nov 2023

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IPO Timeline

Paragon Fine and Speciality Chemicals IPO Subscription Status

Last Updated: 03 January 2024 8:57 PM by 5Paisa

Paragon Fine and Speciality Chemicals Limited IPO is all set to open from 26th October to 30th October 2023. The company has a business of custom synthesis and manufactures speciality chemical intermediates. The IPO includes a fresh issue of 5,166,000 shares worth ₹51.66 cr. The share allotment date is 2nd November, and the IPO will be listed on 7th November on the stock exchanges. The price band is ₹95 to ₹100 per share and the lot size is 1200 shares.    

Hem Securities Limited is the book-running lead manager for this IPO, while Bigshare Services Pvt Limited is the registrar. 

Objectives of Paragon Chemicals IPO:

Paragon Fine and Speciality Chemicals plans to utilize the raised capital from the IPO to:

●    To fund capital expenditure for civil construction work in the existing premises of the factory and civil construction work in Viramgam, Gujarat. 
●    To fund capital expenditure for the installation of additional plants and machinery for Expansion.
●    To repay the availed borrowings in full or part. 
●    For working capital requirements.
●    General corporate purpose.

Established in 2004, Paragon Fine and Speciality Chemicals Limited has a business of custom synthesis and manufactures speciality chemical intermediates involving complex and differentiated chemistry.

The company produces Pharma Intermediates, AGRO Intermediates, Cosmetics Intermediates, Pigment Intermediates, and Dye Intermediates, and caters to a diverse clientele both in India and across the globe.

Situated in Viramgam District, Ahmedabad, Gujarat,  Paragon Fine and Speciality Chemicals’ manufacturing facility spans approximately 7,000 square meters and is equipped with high-end reactors for advanced product research and development. Through its dedicated R&D team, the company has successfully conducted complex multi-step syntheses, resulting in the creation of numerous new molecules in the field of speciality intermediates. 

This achievement has helped Paragon Fine and Speciality Chemicals’ product portfolio to include around 140 products in FY23. 

Peer Comparison

●    Aether Industries Limited
●    Anupam Rasayan India Ltd
●    Bodal Chemicals Ltd.
●    Deepak Nitrite Ltd
 

For More Information:
Webstory on Paragon Fine and Speciality Chemicals IPO
Paragon Fine and Speciality Chemicals IPO GMP

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY22 FY21
Revenue 102.27 82.83 83.26
EBITDA 12.77 5.60 6.16
PAT 9.89 4.49 4.40
Particulars (in Rs. Crores) FY23 FY22 FY21
Total Assets 70.98 57.51 49.83
Share Capital 3.60 0.10 0.10
Total Borrowings 48.64 45.06 41.88
Particulars (in Rs. Crores) FY23 FY22 FY21
Net cash generated from / (used in) operating activities -2.07 5.24 -9.18
Net cash from / (used in) investing activities -0.588 -3.72 -0.586
Net cash flow from / (used in) financing activities 3.35 -2.24 8.75
Net increase (decrease) in cash and cash equivalents 0.685 -0.72 -1.01


Strengths

1.    The company has a wide range of products with the ability to customize.
2.    It has a focus on R&D to leverage complex chemistry and technology.
3.    Long-standing relationships with diversified customers across geographies.
4.    The company also has an in-house manufacturing facility with equipped technologies and processes. 
5.    Focus on Quality, Environment, Health and Safety.
6.    Strong and consistent financial performance.
7.    Experienced Promoters and Senior Management with extensive domain knowledge.
 

Risks

1.    Operations are dependent on the R&D capabilities and an inability to continue to design complex chemistries may adversely affect the business.
2.    Reliance on certain industries for a significant portion of sales could have an adverse effect on the business.
3.    A majority portion of the revenues are from exports and are subject to the risk of international trade.
4.    The company operates in a highly competitive and regulated industry in India and globally.
5.    Higher working capital requirements.
6.    Lenders have charge over immovable and movable properties in respect of finance availed.
 

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FAQs

The minimum lot size of Paragon Fine and Speciality Chemicals IPO is 1200 shares and the investment required is ₹1,14,000.

The price for Paragon Fine and Speciality Chemicals IPO is ₹95 to ₹100 per share. 

Paragon Fine and Speciality Chemicals IPO opens from 26th October to 30th October 2023.
 

The size of Paragon Fine and Speciality Chemicals IPO is ₹51.66 cr. 

The share allotment date of Paragon Fine and Speciality Chemicals IPO is 2nd November 2023.

The Paragon Fine and Speciality Chemicals IPO will be listed on 7th November 2023.

Hem Securities Limited is the book-running lead manager for Paragon Fine and Speciality Chemicals IPO.

Paragon Fine and Speciality Chemicals plans to utilize the raised capital from the IPO to:

1.    To fund capital expenditure for civil construction work in the existing premises of the factory and civil construction work in Viramgam, Gujarat. 
2.    To fund capital expenditure for the installation of additional plants and machinery for Expansion.
3.    To repay the availed borrowings in full or part. 
4.    For working capital requirements.
5.    General corporate purpose.
 

To apply for Paragon Fine and Speciality Chemicals IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the Paragon Fine and Speciality Chemicals IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    
●    You will receive a mandate notification to block funds in your UPI app.