Paramatrix Technologies made a modest market debut on the NSE SME, listing at ₹115 per share, just 5% higher than its issue price of ₹110. The stock opened on Wednesday, September 4, reflecting a flat start in comparison to its IPO price.
Paramatrix Technologies IPO saw good demand on Day 3, with a subscription rate of 3.69 times. This reflects significant investor interest and confidence in the company’s prospects, indicating a generally positive market sentiment towards the offering.
Paramatrix Technologies Limited, founded in 2004 in Mumbai, is an ISO-certified IT services provider specialising in customised software solutions for large and mid-sized businesses. Focusing on Digital Transformation and Managed Services, it caters to sectors like BFSI, Retail, and Manufacturing, offering services like application development, data management, cybersecurity, and innovative solutions like INSIGHT, PERFORM, and PACE.
Paramatrix Technologies Limited aims to allocate IPO proceeds for infrastructure expansion, enhancing accelerators like PLAYMITY and BULWARK, and geographic growth in the Middle East and East Asia, while also supporting general corporate purposes, including marketing, brand development, and strategic initiatives.