Paramount Syntex IPO Fully Subscribed On Day 2; QIB Portion Booked 119.29 Times
Paramount Syntex's Rs.81.79 crore SME IPO was subscribed 1.32 times on Day 2, led by 119.29x QIB demand, while its GMP stood at around Rs.52 per share.
Paramount Syntex's Rs.81.79 crore SME IPO was subscribed 1.32 times on Day 2. |
Mumbai: Paramount Syntex Limited’s Rs.81.79 crore SME IPO was fully subscribed on the second day of bidding, driven by strong demand from qualified institutional buyers (QIBs). The issue will remain open for subscription until October 6, 2026.
On October 1, the IPO was subscribed 1.32 times overall, receiving bids for about 80.56 lakh shares against 61.17 lakh shares available in the net issue.
QIB Demand Surges
The QIB ex-anchor portion was subscribed 119.29 times. Institutional investors placed bids for nearly 78.73 lakh shares against 66,000 shares available in the category, translating into demand of close to Rs.100 crore.
The IPO's price band has been fixed at Rs.119 to Rs.127 per equity share. Its offline grey market premium (GMP) stood at around Rs.52 per share. The GMP is unofficial, unregulated and can change before listing.
Rs.81.79 Crore Fresh Issue
The IPO comprises up to 64.40 lakh fresh equity shares with a face value of Rs.10 each and has no Offer for Sale component.
The minimum lot size is 2,000 shares, requiring an investment of Rs.2.38 lakh at the lower end of the price band and Rs.2.54 lakh at the upper end.
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Sobhagya Capital Options Limited is the Book Running Lead Manager, while Bigshare Services Private Limited is the Registrar. The shares are proposed to be listed on the BSE SME platform.
Funds Earmarked For Machinery
Paramount Syntex plans to deploy approximately Rs.61.68 crore from the IPO proceeds towards purchasing machinery for its existing manufacturing facilities, supporting capacity expansion.
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The textile manufacturer produces synthetic fibres, acrylic yarns and blended and dyed yarn products.
FY26 Profit More Than Doubles
The company reported revenue from operations of Rs.122.03 crore in FY26, compared with Rs.112.42 crore in FY25. Profit after tax increased to Rs.13.87 crore from Rs.6.73 crore.
EBITDA rose to Rs.23.59 crore from Rs.13.17 crore, while the EBITDA margin improved to 19.33% from 11.71%. Net profit margin increased to 11.36% from 5.99% during the same period.
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