Paragon Fine and Speciality Chemicals IPO: Specialty chemicals manufacturer Paragon Fine and Speciality Chemicals launched an initial public offer (IPO) on Thursday, October 26 to raise Rs 51.7 crore. The IPO comprises fresh issuance of 51.7 lakh shares. The public offer will be available from 10 am to 5 pm for three trading days, till October 30.

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Here are some of the important things to know about the Paragon Fine And Speciality Chemicals IPO: 

Important dates

Paragon Fine And Speciality Chemicals IPO allotment date 

The basis of the allotment of shares under the IPO of Paragon Fine and Speciality Chemicals will be finalised tentatively on November 2. While unsuccessful bidders will likely have refunds initiated on November 3, successful ones will have shares credited to their demat accounts on November 6.  

Paragon Fine and Speciality Chemicals shares are likely to be listed on stock exchange NSE’s SME platform tentatively on November 7.  

Paragon Fine and Speciality Chemicals IPO: Issue price  

Potential investors will be able to bid for Paragon Fine and Speciality Chemicals shares in a price band of Rs 95-100 apiece, under the IPO.  

Paragon Fine and Speciality Chemicals IPO: Book-running lead managers 

Hem Securities is the book running lead manager of the public issue, whereas Bigshare Services is the registrar. 

Paragon Fine and Speciality Chemicals IPO: Lot size 

Shares will be available for bidding in multiples of 1,200.  

Paragon Fine and Speciality Chemicals IPO: Fund utilisation 

Paragon Fine and Speciality Chemicals intends to utilise the proceeds from the issue to: 

  • Fund capital expenditure towards civil construction work in the existing premises of the factory 
  • Fund capital expenditure towards civil construction work in Plot No 10/A, Situated at Survey No. 1359, 1360 Village-Viramgam Taluka- Viramgam, District-Ahmedabad-382150, Gujarat  
  • Repay certain outstanding borrowings; 
  • Fund capital expenditure towards the installation of additional plant and machinery for expansion 
  • Fund its working capital requirements and general corporate purposes 

What does Paragon Fine and Speciality Chemicals do? 

Incorporated in 2004, Paragon Fine And Speciality Chemicals is involved in the business of custom synthesis and manufacturing of speciality chemical intermediates involving complex and differentiated chemistry. The company manufactures Pharma Intermediates, AGRO intermediates, Cosmetics Intermediates, Pigment Intermediates and Dye Intermediates for a diverse Indian and Global customer base. 

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