The Paramount Speciality Forgings IPO closed its subscription period on September 20 with an overall subscription of 73.88 times, led by demand from non-institutional buyers.
The IPO was a book-built issue with a total size of Rs 32.34 crore. This included a fresh issue of 48.02 lakh shares amounting to Rs 28.33 crore and an offer for sale of 6.8 lakh shares worth Rs 4.01 crore. The subscription period for the IPO began on September 17.
The price band for the IPO was set between Rs 57 and Rs 59 per share, with the minimum lot size being 2,000 shares. Retail investors needed a minimum investment of Rs 118,000.
The allotment for Paramount Speciality Forgings IPO is expected to be finalised on Monday, September 23. The company's shares are set to list on the NSE SME platform, with a tentative listing date of Wednesday, September 25.
Investors who bid for the issue can check their share allotment status on Purva Sharegistry India.
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Visit the IPO allotment page on Purva Share Registry website here.
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Select "Paramount Speciality Forgings Limited" from the company drop-down menu.
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Enter your application number or PAN number.
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Click on the 'Search' button.
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View your allotment details.
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Download/print the allotment status for your records.
Paramount Speciality Forgings IPO GMP Today
The grey market premium of Paramount Speciality Forgings IPO is Rs 10 as of 4:02 p.m. on Monday, implying a 16.95% over the IPO price, according to Chittorgarh's unit Investorgain. The estimated listing price based on the GMP is Rs 69 per share.
GMP is not an official price quote for the stock and is based on speculation.
About Paramount Speciality Forgings Limited
Incorporated in 1994, PSFL manufactures forged components, weighing from 1 kg to 4 tonnes, offering them in rough or finish-machined condition. Its product portfolio includes tube sheet blanks, forged rings, spacers, girth flanges, tyre rings, self-reinforced nozzle, long weld neck flanges, seat, valve’s body and bonnet.
The clients of PSFL operate in sectors like petrochemicals, chemicals and fertilisers, oil and gas, nuclear, power and other heavy engineering industries. It owns and operates two manufacturing facilities, with one in Kamothe and one in Khalapur, Maharashtra.
. Read more on IPOs by NDTV Profit.