Paramount Speciality Forgings IPO allotment expected today: Here’s how to check status

The allotment for Paramount Speciality Forgings IPO is expected to be finalized today. Investors can check their allotment status through the registrar, Purva Sharegistry India Pvt Ltd.

The IPO, which was opened for subscription from September 17 to September 20, saw a healthy response from investors, being oversubscribed by 73.88 times. Specifically, the non-institutional investor (NII) segment was oversubscribed 220.24 times, while the retail portion was oversubscribed 41.35 times. The IPO price was set between ₹57 and ₹59 per share.

Given the high level of retail oversubscription, shares will be allocated to retail individual investors (RIIs) on a proportional basis. Those who do not receive an allotment can expect the refund process to start on September 24, 2024.

Shares allotted will be credited to investors' demat accounts on the same day as the refunds. The SME IPO is expected to be listed on the NSE SME platform, with a tentative date of September 25, 2024.

The company plans to use the net proceeds from the IPO for capital expenditure through the purchase of machinery and equipment required for expansion at the Khopoli Plant and general corporate purposes.

How to check Paramount Speciality Forgings IPO allotment status on Purvashare?

Step 01: Log in to the Paramount Speciality Forgings page: https://www.purvashare.com/investor-service/ipo-query

Step 02: Choose IPO Name ‘Paramount Speciality Forgings‘from the drop-down menu bar.

Step 03: Pick one of all three options to check the status: Application No., Demat Account, or PAN.

Step 04: Click on the 'Search' button.

Step 05: Your Paramount Speciality Forgings IPO allotment status will be displayed on the screen (desktop/mobile).

Paramount Speciality IPO GMP today

Paramount Speciality IPO GMP or grey market premium was ₹0, which meant shares were trading at their issue price of ₹59 with no premium or discount in the grey market, according to investorgain.com.

About Paramount Speciality Forgings

The company is a manufacturer of steel forgings in India, offering a diverse range of forged products. It has developed its business and scale of operations since its founding in 1996 and has invested in a variety of machinery to boost and diversify its manufacturing capabilities.

The company can now manufacture and provide forged components ranging in weight from 1 kg to 4 metric tons in rough or finish-machined condition. Its products are manufactured in accordance with national and international standards and are used in a wide range of industrial applications catering to the extensive requirements of petrochemicals, chemicals, fertilizers, oil & gas, nuclear power, and other heavy engineering sectors, according to the company's DRHP report.

Disclaimer: We advise investors to check with certified experts before taking any investment decisions.