Paragon Fine and Speciality Chemical Ltd IPO

Paragon Fine And Speciality Chemical Limited was originally formed as partnership firm under the Indian Partnership Act, 1932 in the name and style of M/s. Devarshi Dyechem, pursuant to a deed of partnership dated February 02, 2003, entered between Manubhai Mongabhai Prajapati, Sureshbhai Natvarlal Patel and Kusumben Prahladbhai Patel. Thereafter, the said partnership firm was purchased by two of its existing promoters, Vallabh Ratanji Savaliya and Pravinbhai Panchabhai Patolia along with Pravinchandra Jasmat Vasolia, Manubhai Mongabhai Prajapati and Mukeshbhai Rudabhai Buha pursuant to a deed of partnership dated February 26, 2004. The name of the partnership firm was then changed to M/s. Paragon Industries. Thereafter a deed of partnership dated April 04, 2009 was entered to admit Kishorkumar Panchabhai Patolia and to retire Pravinbhai Panchabhai Patolia, Manubhai Mongabhai Prajapati and Mukeshbhai Rudabhai Buha as partners. Later a deed of partnership dated November 20, 2017 was executed to admit Bansari Kishor Patolia, Priydarshna Kishorkumar Patolia, Nitaben Pravinchandra Vasolia and Heamanshi Pravinbhai Vasoliya as partners in the existing partnership firm. Further, M/s Paragon Industries was converted from partnership firm to a Private Limited Company under Part XXI of the Companies Act, 2013 in the name of Paragon Fine And Speciality Chemical Private Limited vide Certificate of Incorporation dated November 02, 2018 bearing registration no. 105071 issued by Registrar of Companies, Central Registration Centre bearing CIN U24304GJ2018PTC105071. Subsequently, the Company was converted into a Public Limited Company vide Special Resolution passed by the Shareholders at the Extraordinary General Meeting, held on July 15, 2022 and consequently the name of the Company was changed from Paragon Fine And Speciality Chemical Private Limited to Paragon Fine And Speciality Chemical Limited vide a fresh certificate of incorporation dated August 23, 2022 issued by the Registrar of Companies, Ahmedabad bearing CIN U24304GJ2018PLC105071.

India holds a strong position in exports and imports of chemicals at a global level and ranks 14th in exports and 8th in imports at global level (excluding pharmaceuticals). The chemicals industry in India covers more than 80,000 commercial products with overall market size standing at US$ 178 billion in 2018-19. The industry is expected to grow at 9.3% to reach US$ 304 billion by 2025 on the back of rising demands in the end-user segments for specialty chemicals and petrochemicals. The specialty chemicals sector is expected to reach US$ 40 billion by 2025.

Paragon Fine and Speciality Chemicals Limited is engaged in the business of custom synthesis and manufacturing of chemical intermediates involving complex and differentiated chemistry. The Company commenced business as a partnership firm in the year 2003 and has, over the years, evolved into custom synthesis and manufacturing of Pharma Intermediates, AGRO intermediates, Cosmetics Intermediates, Pigment Intermediates and Dye Intermediates etc. for a diverse base of Indian and global customers. The Company works with an approach towards chemistry combined with technology and systems that would lead to sustained product development.