![Paramatrix Technologies Makes a Modest Debut: Stock Lists at ₹115, Just 5% Above IPO Price 1 Paramatrix Technologies](https://sharepriceindia.com/wp-content/uploads/2024/09/Paramatrix-Technologies-.jpg)
Paramatrix Technologies had a flat debut on the market on Wednesday, September 4. Its shares listed at ₹115 each on the NSE SME, only 5% above the IPO price of ₹110.
The company’s IPO was well-received, with a subscription rate of 9.21 times. The IPO raised ₹33.84 crore, including a fresh issue of 27.59 lakh shares worth ₹30.35 crores and an offer for sale of 3.18 lakh shares worth ₹3.50 crores.
Paramatrix plans to use the funds from the fresh issue for building infrastructure, expanding into the Middle East and East Asia, and enhancing its services with new technology.
About Paramatrix Technologies
Founded in 2004, Paramatrix Technologies provides software and technology solutions to large and medium-sized businesses. Their services include:
Digital Transformation Services: Application Development and Maintenance, Solution Architecture and Design, and Enterprise Data Management & Data Analytics. They also offer specialized tools like INSIGHT for analytics, PERFORM for employee management, and BULWARK for cloud security.
Managed Services: Application management, cybersecurity, and cloud support.
Paramatrix serves various sectors, including BFSI, retail, manufacturing, sports, pharma, and logistics.
The company reported stable financial performance with revenues of ₹28.25 crore in FY22 and FY23, and ₹28.60 crore in FY24. Net profit was ₹6.79 crore in FY22, ₹7.08 crore in FY23, and ₹4.13 crore in FY24.
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