Paramatrix Technologies IPO: NSE SME issue booked 84%, check key details

Paramatrix Technologies IPO received bids for 24.66 lakh shares as compared to 29.2 lakh shares on offer. The issue was subscribed only 84% on the first day of bidding.

The non-institutional investors (NIIs) category was subscribed 39% with applications for 5.77 lakh shares compared to 14.6 lakh shares reserved for the segment. The retail portion was booked 1.29 times with bids for 18.88 lakh shares as against the 14.6 lakh shares set aside for the category.

The IPO is open for subscription till August 30. Investors interested in applying to the IPO may check these key details before bidding.

Paramatrix Technologies IPO offer size and price band

Paramatrix Technologies IPO is a fixed price issue of 30.76 lakh shares aggregating to ₹33.84 crore. The NSE SME issue is a combination of a fresh issue of a total of 27.59 lakh shares, aggregating to ₹30.35 crore, and an offer-for-sale (OFS) of 3.18 lakh shares, totalling ₹3.50 crore.

Paramatrix Technologies IPO price band has been fixed at ₹110 per equity share.

The minimum lot size of the IPO is 1,200 shares and in multiples thereof. Therefore, a retail investor has to invest a minimum of ₹1.32 lakh, while High Networth Individuals (HNIs) can apply for a minimum of two lots, aggregating to an investment of ₹2.64 lakh.

Paramatrix Technologies IPO key dates

Paramatrix Technologies IPO share allotment status is expected to be finalised on Monday, September 2. Initiation of refunds for unsuccessful bidders will begin on Tuesday, September 3, while the credit of shares to the Demat accounts of successful investors will be done the same day.

The issue will list on the NSE SME platform, Emerge, with a tentative listing date fixed as September 4.

Paramatrix Technologies IPO registrar and promoter

Big Share Services Private Limited is the registrar of the Paramatrix Technologies IPO, while Inventure Merchant Banker Services Private Limited is the book-running lead manager of the issue. HDFC Bank Limited is the sponsor bank of the IPO.

Paramatrix Technologies IPO objective

The proceeds from the offer-for-sale component of the issue will be received by the shareholders. The fresh issue will be used for funding capital expenditure to build the company’s infrastructure. It will also be invested in the company’s suite of accelerators to enhance its service offering. Paramatrix Technologies will use a portion of the funds for geographical expansion in the Middle East and East Asia and for general corporate purposes.

About Paramatrix Technologies Limited

Established in 2004, Paramatrix Technologies Limited (formerly known as Paramatrix Technologies Private Limited) is an IT software services company. The Mumbai-based firm focuses on making software applications and technology solutions for large enterprises and mid-size businesses.