Paramount Dye Tec Shares Set to List Today—GMP Indicates Modest Gains Ahead

Paramount Dye Tec’s shares will make their debut on the NSE SME platform today. Before the listing, the company’s shares were trading at a grey market premium (GMP) of Rs 5. Given the upper price band of Rs 117, the stock is expected to start with slight gains of around 4%.

However, it’s essential to understand that grey market premiums are only indicators of how the company’s shares are performing in the unlisted market and can change quickly.

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The funds raised from the public offer will be used to establish manufacturing units, pay off debts, cover land registration costs, and for general corporate expenses.

Based in Ludhiana, PDTL specializes in recycling waste synthetic fibers to produce yarns for the B2B segment of the textile industry. The company offers a variety of products, including acrylic, polyester, nylon, wool, hand-knitting, and acrylic blend yarns. By using synthetic waste fibers as raw materials, PDTL not only enhances sustainability in the industry but also improves economic efficiency.

Through ongoing research and development, the company has created advanced technology to recycle pre-consumer waste into high-quality yarn and fiber, allowing it to meet the rising demand for sustainable fashion solutions.

India’s textile sector is one of the oldest industries in the country, spanning centuries. It includes everything from hand-spun and hand-woven textiles to advanced, capital-intensive mills.

For the fiscal year ending March 2024, Paramount Dye Tec reported total revenues of Rs 23.67 crore and a net profit of Rs 3.54 crore.