Paragon Fine And Speciality Chemicals, the Gujarat-based company founded in 2004, has recently concluded its initial public offering (IPO) of ₹51.66 crores ($6.9 million). The firm, known for its high-tech factory and a research team of 14 experts, issued 51.66 lakh new shares with a face value of ₹10 each. These shares were priced between ₹95 and ₹100, with a lot size of 1200 shares.
The minimum investment for retail investors was set at ₹120,000 ($1,600), while high net worth individuals (HNIs) were required to invest at least ₹240,000 ($3,200). The IPO witnessed an overwhelming response and was heavily oversubscribed across all categories.
The allotment of shares is expected to be finalized by Thursday, with the listing scheduled for the following Tuesday on November 7.
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