Paramount Dye Tec IPO: SME issue booked over 50 times on strong demand from NIIs

The initial public offering (IPO) of Paramount Dye Tec Ltd. was booked over 50.16 times at the closure of the bidding window on October 3. Investors placed bids for 8.1 crore shares compared to the 16.16 lakh shares on offer, according to NSE data.

The Non-Institutional Investors (NII) portion of the Paramount Dye Tec IPO was oversubscribed 135.66 times. NIIs placed bids for over 4.7 shares compared to the 3.46 lakh shares reserved for the category.

The IPO was booked 36.26 times in the retail category with bids for over 2.93 crore shares against the 8.08 lakh shares offered.

Qualified Institutional Buyers(QIBs) placed bids for 47.08 lakh shares of the company against the 4.6 lakh shares set aside for the category. The IPO was booked 10.21 times in the QIB category.

Paramount Dye Tec IPO: Offer size

Paramount Dye Tec IPO, worth ₹28.43 crore, consists of a fresh issuance of 24.3 lakh shares.

Paramount Dye Tec IPO: Lot size, minimum investment, price band

The IPO price band was fixed at ₹111 to ₹117 per share. Retail investors could have applied in the IPO with a minimum lot size of 1,200 shares, totalling an investment of ₹1,40,400.

Paramount Dye Tec IPO share allotment status, listing date and other details

The IPO’s subscription window opened earlier last week on September 30. With the end of bidding today, October 3, the allotment of shares in the IPO is expected to be finalised by October 4.

This will be followed by the initiation of refunds for non-allottees and credit of shares to the Demat account of successful bidders, on October 7.

Shares of the company are set to list on the NSE SME platform, Emerge, tentatively on October 8.

Paramount Dye Tec IPO: Objective

The company plans to use the money raised through the public issue of shares to set up a manufacturing unit. The proceeds will also be used for debt repayment and funding registration of land purchased from promoters. A portion of the money raised via the IPO will be used for general corporate purposes.

Paramount Dye Tec IPO: Registrar

The book-running lead manager for the NSE SME issue is Gretex Corporate Services Limited and the registrar for the issue is Bigshare Services Pvt Ltd. The IPO’s market maker is Gretex Share Broking.

About Paramount Dye Tec

Paramount Dye Tec was founded in January 2014. The company produces yarns by recycling waste synthetic fibre, catering to the B2B segment of the textile industry. The company offers products such as synthetic fibre and yarns such as acrylic, polyester, nylon, wool, hand-knitting and acrylic blend yarns.