Paragon IPO to open on Oct 26, to list on NSE Emerge

Paragon IPO to open on Oct 26, to list on NSE Emerge
  • PublishedOctober 25, 2023

New Delhi (India), October 25: The initial public offering (IPO) of Paragon Fine And Speciality Chemicals will open for subscription on October 26. Its shares are proposed to be listed on NSE Emerge.

The Rs 51.66 crore IPO will conclude on October 30. The company is offering 51.66 lakh shares at a price band of Rs. 95 to Rs 100. Each lot has 1,200 equity shares.

The company has reserved 24,51,600 shares for QIBs, 7,35,600 for NIIs, 17,17,200 for RIIs and 2,61,600 for market maker.

HEM Securities Limited is the Book Running Lead Manager to the issue.

Paragon Fine & Specialty Chemical is involved in custom synthesis and manufacturing of speciality chemical intermediates involving complex and differentiated chemistry since 2004. It’s diverse range of intermediates are used in pharma, agrochemicals, cosmetics, pigments and dyes industries. It has a 7000 square meter manufacturing unit in Viramgam, Ahmedabad and also has an in-house research and development facility.

It has 140 commercialized products as on fiscal 2023, which are also exported to Countries in Asia, Europe & North America. Out of it’s Rs. 102.26 crore Revenue in FY23, exports contributed 33.87 per cent. The PAT came in at Rs 9.89 crore and EBITDA stood at Rs 12.77 crore in FY23. The company has RoCE of 38.86 per cent.

The Company is also developing  2 new products, which include food grade Folic Acid and HALQUINOL. Food Grade Folic Acid is a nutrient supplement for human and animal consumption. HALQUINOL is a veterinary antibiotic and feed additive. It is used to promote animal health and growth, prevent and treat various bacterial infections and improve feed efficiency. The Commercial trials/ sample tests are under development.

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Written By
Harsh Desai