Paramount Speciality Forgings IPO allotment: Steps to check status on NSE, Purva Sharegistry

Paramount Speciality Forgings IPO share allotment status is expected to be finalised on Monday, September 23. The investors are waiting for the share allotment status to be finalised by the company after the NSE SME issue closed with a strong subscription on Friday, September 20.

Investors placed bids for 26.95 crore shares against 36.46 lakh shares on offer. The Paramount Speciality Forgings IPO was subscribed 73.91 times.

The Paramount Speciality Forgings IPO was booked 220.54 times in the non-institutional investors (NIIs) category. Retail investors subscribed to their portion 41.29 times, while Qualified Institutional Buyers (QIBs) booked their quota 20.87 times.

The investors who placed bids for shares in Paramount Speciality Forgings' IPO are waiting for the share allocation status. The IPO allotment status can be checked on the NSE and the IPO registrar websites.

Steps to check Paramount Speciality Forgings IPO allotment status on the NSE website

• Go to the allotment status check page on the NSE website (www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp)
• Log in with your username and password. Create an account if you are not already registered
• Select Paramount Speciality Forgings from the dropdown menu
• Verify your PAN details
• Enter your application number
• Click submit to check the allotment details

Here’s how to check Paramount Speciality Forgings IPO allotment on the registrar’s website

• Visit the official website of the registrar Purva Sharegistry at https://www.purvashare.com/
• Under the Investor Service dropdown menu, click on IPO query
• Select Paramount Speciality Forgings from the company list
• Enter your PAN or Application No.
• Click on Search to view allotment details

Paramount Speciality Forgings IPO details

The ₹32.34-crore initial share sale of Paramount Speciality Forgings was a combination of a fresh issue of 48.02 lakh shares worth ₹23.33 crore and an offer-for-sale component of 6.8 lakh totalling ₹4.01 crore.

Paramount Speciality Forgings price band was set at ₹57 to ₹59 per share. The minimum lot size for retail investors was fixed at 2,000 shares, taking the minimum investment amount to ₹1,18,000 at the upper end of the price band.

After the share allotment is finalised, Paramount Speciality Forgings's shares are expected to list on September 25 on the NSE SME platform Emerge.

Paramount Speciality Forgings IPO objectives

Paramount Speciality Forgings will use the net proceeds from the fresh issue to buy machinery and equipment for its Khopoli plant in Maharashtra. A part of the funds will also be used for general corporate purposes.

About Paramount Speciality Forgings Limited

Paramount Speciality Forgings Limited manufactures steel forgings in India. Established in 1994, the company makes items including tube sheet blanks, forged rings and valve bodies. It has two manufacturing facilities in Maharashtra.

The company's clients include those operating in the petrochemicals, oil and gas, and heavy engineering industries.