Paragon Fine & Speciality Chemicals Allotment Status
Quick take on Paragon Fine & Speciality Chemicals Ltd IPO
The IPO of Paragon Fine & Speciality Chemicals Ltd opened for subscription on 26th October 2023 and closed for subscription on 30th October 2023. The face value of the company shares is ₹10 per share and it is a book built issue; priced in the IPO price band of ₹95 to ₹100 per share. The final price will be discovered through book building in this band. The IPO of Paragon Fine & Speciality Chemicals Ltd has only a fresh issue component with no book built portion. As part of the fresh portion of the IPO, Paragon Fine & Speciality Chemicals Ltd will issue a total of 51,66,000 shares (51.66 lakhs), which at the upper IPO price band of ₹100 per share aggregates to a total fresh issue size of ₹51.66 crore. Since there is no offer for sale, the size of the fresh issue will also be the overall size of the IPO. Therefore, the total IPO size will also comprise of 51.66 lakh shares, which at the fixed IPO price of ₹100 per share will aggregate to ₹51.66 crore.
The minimum lot size for the IPO investment will be 1,200 shares. Thus, retail investors can invest a minimum of ₹120,000 (1,200 x ₹100 per share) in the IPO. That is also the maximum that the retail investors can invest in the IPO. HNI / NII investors can invest a minimum of 2 lots comprising of 2,400 shares and having a minimum lot value of ₹240,000. There is no upper limit on what the QIBs as well as what the HNI / NII investors can apply for. The company has a market making allocation (like every SME IPO) of 2,61,600 shares. The market maker (Hem Finlease Private Ltd) will provide two-way quotes to ensure liquidity and low basis costs. The promoter holdings stand at 100.00% currently, which would get diluted post the IPO to 75.13%. The fresh issue proceeds will be used for capex for factory premises, repayment of borrowings and working capital needs. Hem Securities Ltd will be the lead manager to the issue and Bigshare Services Private Ltd will be the registrar. The market maker for the issue is Hem Finlease Private Ltd.
Check the allotment status of Paragon Fine & Speciality Chemicals
How to check the allotment status. Since this is an NSE SME IPO, there is no facility to check on the exchange website and BSE only offers allotment status for the mainboard IPOs and for BSE SME IPOs. If you have applied for the IPO, you can either check your allotment status on the website of the IPO registrar, Bigshare Services Private Limited; or you can use the broker link provided, in case your broker is giving such a direct linkage. Here are the steps that you need to follow to check allotment status on the registrar website.
Paragon Fine & Speciality Chemicals IPO Registrars
Registrar to IPO: Bigshare Services Private Limited
There are three things to remember. Firstly, you can just click on the hyper link given above and directly go to the allotment checking page. The second option, in case you are not able to click on the link, is to copy the link and paste in your web browser. Thirdly, there also a way to access this page via the home page of Bigshare Services Private Ltd by clicking on the IPO Allotment Status link displayed prominently on the home page. It all works the same.
Once you enter the IPO allotment check landing page of Bigshare Services Private Ltd, you are given the choice to select from 3 servers viz. Server 1, Server 2, and Server 3. There is nothing to be confused, as these are just server backups in case one of the servers is experiencing too much traffic. You can select any of these 3 servers and in case you are finding problems accessing one of the servers, then try the other one. There is no difference, which server you select; the output would still be the same.
This dropdown will only show the active IPOs, so once the allotment status is finalized, you can select Paragon Fine & Speciality Chemicals Ltd from the dropdown box. The basis of allotment will be finalized on 02nd November 2023, so in this case, you can access the details on the registrar website either late on 02nd November 2023 or by middle of 03rd November 2023. Once the company is selected from the dropdown box, you have 3 methods to check the allotment status for the IPO.
- Firstly, you can access the allotment status using Application Number / CAF Number. Enter the Application / CAF number and then click on Search Button. Enter the application exactly it is given in the acknowledgement slip given to you post the IPO application process. After that you can click on the Search button to get the details of shares allotted to you in the IPO.
- Secondly, you can search by Beneficiary ID of your demat account. From the dropdown box, you must first select the depository name where your demat account is held i.e., NSDL or CDSL. In the case of NSDL, enter the DP id and Client id in separate boxes as provided. In case of CDSL, just enter the CDSL client number. Remember that the NSDL string is alphanumeric while the CDSL string is a numeric string. The details of your DP and client ID are available in your online DP statement or in the statement of account. After that you can click the Search Button in both cases.
- Thirdly, you can also search by Income Tax PAN number. Once you select PAN (permanent account number) from the dropdown menu, enter your 10-digit PAN number, which is an alphanumeric code. The PAN number will be available on your PAN card or on top of your income tax returns filed. Once you enter the PAN, click on the Search Button.
The IPO status with number of shares of Paragon Fine & Speciality Chemicals Ltd allotted will be displayed on the screen. You can save a screenshot of the screen for future reference. Once again, you can verify the demat credit by the close of 06th November 2023, or later.
Paragon Fine & Speciality Chemicals IPO Subscription Status
Here is a break-up of the total shares issued by the company and its quota allocated for different classes of investors.
This is the key to your chances of allotment in the IPO.
|Investor Category||Shares Offered|
|Market Maker Shares||2,61,600 shares (5.06% of total issue size)|
|Anchor Allocation||14,70,000 shares (28.46% of total issue size)|
|QIB shares Offered||9,81,600 shares (19.00% of total issue size)|
|NII (HNI) Shares Offered||7,35,600 shares (14.24% of total issue size)|
|Retail Shares Offered||17,17,200 shares (33.24% of total issue size)|
|Total Shares Offered||51,66,000 shares (100.00% of total issue size)|
The response to the IPO of Paragon Fine & Speciality Chemicals Ltd was strong and it was subscribed overall by 205.74X overall at the close of bidding on 30th October 2023 with the retail segment seeing 185.28 times subscription, the HNI / NII portion seeing 419.46 times subscription and the QIB portion subscribed a full 81.38 times. The table below captures the overall allocation of shares with the oversubscription details as of the close of the IPO on 30th October 2023.
(₹ in crore)
|HNI / NIIs||419.46||7,35,600||30,85,51,200||3,085.51|
|Total Applications :||264,791 (185.04 times)|
The basis of allotment will be finalized on 02nd November 2023, the refunds will be initiated on 03rd November 2023, demat credits will be finalized on 06th November 2023, while the stock of Paragon Fine & Speciality Chemicals Ltd will get listed on the NSE-SME segment on 07th November 2023. The NSE SME segment is where the smaller companies get listed, in contrast to the mainboard IPO segment.
The level of subscription is very material as it determines the chances of getting allotment. Normally, higher the subscription ratio, lower the chances of allotment and vice versa. In this case, the subscription levels have been fairly high in the IPO; both in the Retail segment and also in the HNI / NII segment. Investors in the IPO need to assess their chances of allotment accordingly. The final status will be known once the basis of allotment is finalized and uploaded for you to check.
DisclaimerInvestment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
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