Paramount Speciality Forgings IPO Wildly Oversubscribed at 68.7 Times

The initial public offer of Paramount Speciality Forgings was subscribed by 68.7 times on its final subscription day. The Rs 32.34-crore IPO received bids for 26,96,40,000 shares against an offering of 39,22,000 shares. The IPO received high engagement from various investor categories and will fund capital expansion.

The initial public offering (IPO) of Paramount Speciality Forgings saw an overwhelming response, being subscribed 68.7 times by the last day of subscription on Friday.

The Rs 32.34-crore IPO received bids for 26,96,40,000 shares, while only 39,22,000 shares were available, according to NSE SME data.

The IPO allocation witnessed a significant uptick in demand with Non Institutional Investors (NIIs) subscribing 220.54 times, Retail Individual Investors (RIIs) reaching 41.29 times subscription levels, and Qualified Institutional Buyers (QIBs) filling 20.87 times their quota.

(With inputs from agencies.)