Paragon Fine share price makes a stellar debut; stock lists at 125% premium at ₹225 on NSE SME

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₹225 per share, 125% higher than the issue price of ₹100. Paragon Fine And Speciality Chemicals IPO's price band was set in the range of ₹95 to ₹100 and investors can bid for a minimum of 1200 shares and in multiples thereof.

Paragon Fine And Speciality Chemicals IPO reserved not more than 50% of the shares in the public issue for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors. Paragon Fine and Speciality Chemicals is engaged in the production of highly complex and differentiated specialty chemical intermediates through custom synthesis.

The company produces pigment intermediates, dye intermediates, pharma intermediates, AGRO intermediates, and cosmetic intermediates for a wide range of Indian and international clients. Paragon Fine And Speciality Chemicals IPO, which is worth ₹51.66 crore, is completely a fresh issue of 5,166,000 equity share; there is no offer for sale (OFS) component, according to Red Herring Prospectus (RHP).

The company wants to use the proceeds of the issue to fund the following projects: - finance capital expenditure for civil construction work in Gujarat; finance capital expenditure for work in the existing factory premises; Repay some of our outstanding debts in full or in part; fund capital expenditure for the installation of new equipment and machinery for expansion; fund for working capital needs; General Corporate Purpose. The company's promoters are Vallabh Ratanji Savaliya, Rutesh Vallabhbhai Savalia, Shivam Kishorbhai Patolia, Vallabh Jasmat Vasolia, and Kishorkumar Panchabhai Patolia.