Schedule of Paramount Speciality Forgings
| Issue open date | 17 Sep 2024 |
| Issue close date | 20 Sep 2024 |
| UPI mandate deadline | 20 Sep 2024 (5 PM) |
| Allotment finalization | 23 Sep 2024 |
| Refund initiation | 24 Sep 2024 |
| Share credit | 24 Sep 2024 |
| Listing date | 25 Sep 2024 |
| Mandate end date | 05 Oct 2024 |
| Lock-in end date for anchor investors (50%) | 21 Oct 2024 |
| Lock-in end date for anchor investors (remaining) | 20 Dec 2024 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Paramount Speciality Forgings
Paramount Speciality Forgings Limited, incorporated in 1994, manufactures steel forgings in India, serving sectors like petrochemicals, chemicals, fertilizers, oil and gas, nuclear power, and heavy engineering. The company operates two facilities in Kamothe and Khalapur, Maharashtra, producing items such as Tube Sheet Blanks, Forged Rings, Girth Flanges, and Valve bodies. The manufacturing processes at their closed-die forging plant are certified under ISO 9001-2008, ISO 14001-2004, and BS OHSAS 18001-2007. Their product range also includes Spacers, Tyre Rings, and other related items, with facilities accredited by recognized oil and gas companies and other statutory bodies.
Financials of Paramount Speciality Forgings
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹32.34 crores |
| Fresh Issue | ₹28.33 crores |
| Offer for sale | ₹4.01 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Capital expenditure | 23.81 (84.06%) |
| General corporate purposes | 4.52 (15.94%) |
Strengths
- Strong customer retention with significant repeat business contributing to revenue growth.
- Advanced manufacturing capabilities across two facilities producing a diverse range of products.
- Experienced management team with deep industry expertise guiding strategic direction.
Risks
- The company does not have long-term customer agreements, which could lead to revenue fluctuations and potential loss of business.
- Volatility in raw material supply and pricing could disrupt production and negatively impact the company’s financial performance.
- They face counterparty credit risk, which might result in cash flow issues if clients delay or fail on payments.
- The company relies on short-term purchase orders that can be amended or canceled, potentially affecting revenue and production schedules.
- The company’s operations depend heavily on plant and machinery, with potential operational disruptions if maintenance issues arise.