Paramount Dye Tec’s stock market debut on October 7 was disappointing, listing at Rs 109.9, down 6% from its Rs 117 issue price. The 24.3 lakh share public offer was subscribed 50 times, mainly by non-institutional investors.
Retail investors purchased 36.26 times their reserved portion, while qualified institutional buyers (QIBs) acquired 10.2 times their share. The Paramount Dye Tec IPO raised Rs 8.09 crore from anchor investors, with a price band set at Rs 111-117.
Paramount Dye Tec Limited (PDTL), based in Ludhiana, Punjab, specializes in recycling waste synthetic fibers to manufacture various yarns for the B2B textile industry. Their product range includes acrylic, polyester, nylon, wool, hand-knitting, and acrylic blend yarns. By using synthetic waste as raw material, PDTL promotes sustainability and economic efficiency, showcasing their dedication to environmental responsibility.
The objective of the Paramount Dye Tec IPO is to raise funds for business expansion, enhance working capital, and improve infrastructure. The capital raised will support strategic initiatives aimed at increasing production capacity and strengthening the company’s market presence.