Paramatrix Technologies IPO Day 1: Retail Investors Flock, Fully Subscribed Amid High Demand; Check GMP Here
The Paramatrix Technologies IPO has received strong interest from retail investors, with their portion fully subscribed on the first day, August 27. Data shows that the retail segment was subscribed 1.18 times, with bids for 17,16,000 shares compared to the 14,60,400 shares available. Overall, the IPO was subscribed 0.79 times, receiving bids for 24,39,600 shares out of the 30,76,800 on offer. The non-institutional buyers’ segment was subscribed 0.29 times, with 4,24,800 bids against 14,60,400 shares available.
IPO Details and Timeline
The Paramatrix Technologies IPO opened on Tuesday, August 27, and will close on Friday, August 30. The allotment of shares is expected to be finalized on Monday, September 2, and the stock is likely to be listed on the NSE SME on Wednesday, September 4.
IPO Structure and Pricing
This IPO aims to raise ₹33.84 crores. It is a mix of a fresh issue of 27.59 lakh shares and an offer for sale of 3.18 lakh shares. The price is set at ₹110 per share, with a minimum investment of ₹1,32,000 required for retail investors, which translates to a lot size of 1,200 shares. Inventure Merchant Banker Services Pvt Ltd is the book-running lead manager, and Bigshare Services Pvt Ltd is the IPO registrar.
Use of Funds
Paramatrix Technologies plans to use the funds raised from this IPO for capital expenditure, improving its infrastructure, investing in its service accelerators, expanding into the Middle East and East Asia, and general corporate purposes.
About Paramatrix Technologies
Based in Mumbai, Paramatrix Technologies is an IT software services company that develops software applications and offers technology solutions to large enterprises and midsize businesses.
The company has a diverse clientele in industries such as BFSI, retail, manufacturing, sports, pharmaceuticals, and logistics. According to its RHP, the company reported revenues of ₹2,824.66 lakh in FY22, ₹3,332.44 lakh in FY23, and ₹2,859.93 lakh in FY24. Profit after tax (PAT) for these years stood at ₹678.94 lakh, ₹707.56 lakh, and ₹413.17 lakh, respectively.
Grey Market Premium (GMP)
As of the latest data, the grey market premium (GMP) for the Paramatrix Technologies IPO is zero. Since the issue price is ₹110 per share, the expected listing price based on the GMP remains at ₹110.
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