Paramount Dye Tec day 1 subscription status: The SME IPO of Paramount Dye Tec opened for subscription on Monday, September 30. The company aims to raise approximately ₹28 crore through this offering and plans to list its shares on the NSE SME platform.
Paramount Dye Tec’s IPO is entirely a fresh equity issue of 24.3 lakh shares.
Paramount Dye Tec IPO key dates
The IPO opened on September 30 and will close on October 3. The final allotment of shares is expected to occur on October 4, with the listing of shares likely to occur on October 8.
Paramount Dye Tec subscription status
As of 12:18 pm on September 30, the subscription status of Paramount Dye Tec’s SME IPO reflects the following: A total of 145 applications were received, suggesting bids for 1,86,000 shares.
Retail individual investors (RIIs) have shown a strong interest, submitting 139 applications for a total of 1,66,800 shares. Within this, 1,22,400 shares were bid at the cut-off price, while 44,400 shares were price bids. Non-institutional investors (NIIs) have submitted 6 applications for 19,200 shares, while no bids were recorded from qualified institutional buyers (QIBs) or subcategories like FIIs, mutual funds, or corporates so far.
IPO price band
The company has set its price band at ₹111-117 per share. Investors can bid for a minimum of one lot, which consists of 1,200 shares.
Grey market premium (GMP)
In the unlisted market, there was a lack of activity in company shares. Ahead of the IPO opening, the company shares were flat with no grey market premium (GMP).
Paramount Dye Tec overview
Paramount Dye Tec specialises in waste recycling fibres and yarn manufacturing, primarily catering to the B2B textile industry. The company’s product range includes synthetic fibres and yarns such as acrylic yarn, polyester yarn, wool yarn, hand-knitting yarn, and acrylic blend yarn, which are known for their quality and durability.
For the financial year ending March 2024, Paramount Dye Tec reported a total revenue of ₹23.67 crore and a net profit of ₹3.54 crore.
The company plans to use the net proceeds from the IPO to set up a new manufacturing unit, repay debt, cover land registry expenses, and for general corporate purposes.
Gretex Corporate Services is the lead manager for the IPO, while Bigshare Services is the registrar for the issue.
Issue breakdown
In the IPO, 50 per cent of the offer is reserved for QIBs, 35 per cent for retail investors, and 15 per cent for NIIs.
