The allotment for Paramount Speciality Forgings IPO is expected to be finalized today. Investors can check their allotment status through the registrar, Purva Sharegistry India Pvt Ltd
The initial public offering (IPO) experienced a robust reaction from investors, with subscriptions exceeding the opening amount by 73.88 times between September 17 and September 20.
In particular, there was a 220.24-fold oversubscription in the non-institutional investor (NII) segment and a 41.35-fold oversubscription in the retail section. The price per share for the IPO was fixed at ₹57–₹59.
Shares will be distributed proportionately to retail individual investors (RIIs) in light of the significant retail oversubscription. On September 24, 2024, those who are not allocated can anticipate that the return procedure will begin.
Shares allotted will be credited to investors’ demat accounts on the same day as the refunds. The SME IPO is expected to be listed on the NSE SME platform, with a tentative date of September 25, 2024.
The company plans to use the net proceeds from the IPO for capital expenditure through the purchase of machinery and equipment required for expansion at the Khopoli Plant and general corporate purposes
Today’s Paramount Speciality IPO GMP According to investorgain.com, the Paramount Speciality IPO GMP, or grey market premium, was ₹0, meaning that shares were trading at their issue price of ₹59 with no premium or discount in the grey market.
About The Forgings at Paramount Specialty The company produces a wide variety of forged items and is an Indian steel forging factory. Since its establishment in 1996, it has expanded its operations and company, and to strengthen and broaden its production capabilities, it has made investments in a range of machinery.