Mumbai: Paramount Syntex’s Rs 81.79 crore initial public offering was fully subscribed on its second bidding day, led by strong institutional demand, according to a company statement. The textile manufacturer’s issue closes on October 6.
As of 10.29 am on October 1, the IPO was subscribed 1.32 times, receiving bids for around 80.56 lakh shares against 61.17 lakh shares available in the net issue.
Institutional demand leads
The qualified institutional buyer portion, excluding anchor investors, was subscribed 119.29 times. Investors bid for nearly 78.73 lakh shares against the 66,000 shares available in this category.
The statement cited an unofficial grey market premium of around Rs 52 per share. Such premiums are unregulated, can change quickly and do not guarantee listing gains.
Price band and investment
The IPO opened on September 30 at a price band of Rs 119 to Rs 127 per share. It comprises 64.40 lakh fresh equity shares, with no offer for sale by existing shareholders.
The stated minimum application is 2,000 shares, requiring Rs 2.38 lakh at the lower price and Rs 2.54 lakh at the upper end.
The shares are proposed to list on the BSE SME platform. Sobhagya Capital Options is managing the issue, while Bigshare Services is the registrar.
Machinery purchase planned
Paramount Syntex has earmarked about Rs 61.68 crore from the proceeds for machinery at its existing manufacturing facilities. The investment is intended to expand production capacity and strengthen manufacturing operations.
The company produces synthetic fibres, acrylic yarns, wool-blended yarns and other blended and dyed products.
Chairman and Managing Director Punit Arora said the company would focus on product quality, customer relationships and expanding its market presence.
Profit more than doubles
Revenue from operations rose to Rs 122.03 crore in FY26 from Rs 112.42 crore in FY25. Net profit increased to Rs 13.87 crore from Rs 6.73 crore.
Operating earnings before interest, tax, depreciation and amortisation climbed to Rs 23.59 crore from Rs 13.17 crore. The corresponding margin improved to 19.33 per cent from 11.71 per cent.
