Paragon Fine and Speciality Chemical Ltd Share Price – NSE

Chemicals, Small Cap

Paragon Fine & Speciality Chemicals will hold a meeting of the Board of Directors of the Company on 29 May 2024

Powered by Capital Market - Live News

Paragon Fine & Speciality Chemicals will hold a meeting of the Board of Directors of the Company on 22 November 2023.

Powered by Capital Market - Live News

The scrip was listed at Rs 225, up 125.00% over the initial public offer (IPO) price. The stock was currently frozen in a lower limit of 5% over its listing price.

The counter hit a high of Rs 236 and a low of Rs 213.75. About 15.98 lakh shares of the company changed hands at the counter.

Paragon Fine and Speciality Chemicals' IPO was subscribed 136.82 times. The issue opened for bidding on 26 October 2023 and it closed on 30 October 2023. The price band of the IPO was set at Rs 95 - 100 per share.

The IPO comprised fresh issue of 51,66,000 shares. The promoter and promoter shareholding diluted to 73.60% from 100% pre-IPO.

The company intends to utilize the net proceeds to meet funding capital expenditure towards civil construction work in the existing premises of factory, repayment in full or in part, of certain of our outstanding borrowings, funding capital expenditure towards installation of additional plant and machinery for expansion, funding to meet working capital requirements and general corporate purpose.

Ahead of the IPO, Paragon Fine and Speciality Chemicals on 25 October 2023, raised Rs 14.70 crore from anchor investors. The board allotted 14.70 lakh shares at Rs 100 each to 11 anchor investors.

Paragon Fine and Speciailty Chemicals are engaged in the business of custom synthesis and manufacturing of speciality chemical intermediates involving complex and differentiated chemistry. The company evolved into a prominent global supplier, specializing in the custom manufacturing of specialty intermediates, cosmetics intermediates, pharma intermediates, and agro intermediates. The company's diverse range of products finds applications across various industries, including pharma, medical devices, electronics, paper, leather, plastics, and polymers. As of 31 March 2023, its product portfolio comprised around 140 products which were marketed to over 13 global customers spread in 12 countries and to around 75 domestic customers. As on 30 June 2023 The company has employed 56 full time employees and 5 workers on contractual basis.

The company recorded revenue from operations of Rs 28.78 crore and net profit of Rs 3.62 crore for the period as on 30 June 2023.

Powered by Capital Market - Live News