Paramount Speciality Forgings IPO: Day 1 Updates on Subscription Status, GMP, Key Dates & More

The Paramount Speciality Forgings IPO opened for subscription on September 17, 2024, and will close on September 20, 2024. Investors can check important details like subscription status, Grey Market Premium (GMP), key dates, and more.

Subscription Status

By 3:40 PM on September 17, 2024, the IPO had been subscribed 1.48 times. The retail portion saw 2.03 times subscription, the qualified institutional buyers (QIB) category was subscribed 1.14 times, and non-institutional investors (NII) subscribed 0.63 times, according to data from Chittorgarh.com.

Key Dates

• Subscription Period: September 17 to September 20, 2024.
• IPO Allotment Date: September 23, 2024.
• Listing Date: The company will be listed on NSE SME on September 25, 2024.

Price and Investment Details

The IPO price range is set between ₹57 and ₹59 per share. The minimum investment for retail investors is ₹118,000 for 2,000 shares. High net worth individuals (HNIs) must invest in at least two lots, which totals 4,000 shares for ₹236,000.

The total IPO size is ₹32.34 crore, of which ₹28.33 crore comes from fresh share issues (48.02 lakh shares), and ₹4.01 crore comes from an offer for sale (6.8 lakh shares).

GMP

According to Investorgain.com, the GMP for this IPO is zero, meaning there is no premium on the shares in the grey market. Investors expect the shares to list at or near the issue price.