The scrip was listed at Rs 83, a premium of 40.68% over the initial public offer (IPO) price. The stock was currently frozen at its upper limit of 5% over its listing price. The counter hit a high of Rs 87.15 and a low of Rs 83. About 23.60 lakh shares of the company changed hands at the counter. Paramount Speciality Forgings' IPO was subscribed 68.75 times. The issue opened for bidding on 17 September 2024 and it closed on 20 September 2024. The price band of the IPO was set at Rs 57 to Rs 59 per share. The issue size comprised fresh issue 48,02,000 and offer for sale 6,80,000 by existing shareholders. The promoter and promoter group shareholding diluted to 72.15% from 100% pre-IPO. The company intends to utilize the net proceeds for purchasing of machinery and equipment required for expansion at its Khalapur plant and for general corporate expenses. Ahead of the IPO, Paramount Speciality Forgings on Monday, 16 September 2024, raised Rs 9.20 crore from anchor investors. The board allotted 15.60 lakh shares at Rs 59 per share to 5 anchor investor. Paramount Speciality Forgings is a manufacturer of steel forgings in India offering a diverse range of forged products. The company's products are manufactured in accordance with National and International standards and is used in a wide range of industrial applications catering to the extensive requirements of petrochemicals, chemicals, fertilizers, oil and gas, nuclear power, and other heavy engineering sectors. The company manufactures a range of forged products which include tube sheet blanks, forged rings, spacers, girth flanges, tyre rings, self-reinforced nozzle, long weld neck flanges, seat, valve's body, bonnet etc. As on 31 August 2024, the company has total 155 employees. The company recorded revenue from operations of Rs 112.75 crore and net profit of Rs 7.25 crore for the period as on 31 March 2024. Powered by Capital Market - Live