Paramatrix Technologies IPO subscription: Issue booked nearly 7 times on day 3; check GMP

Paramatrix Technologies IPO subscription status: Paramatrix Technologies' initial public offering (IPO) witnessed a decent subscription overall.

Data showed that by 2:30 pm on Friday, the issue was subscribed 6.78 times, receiving bids for 1,97,94,000 shares against 29,20,800 offered. The segment reserved for retail investors had been subscribed 9.72 times, while that for non-institutional buyers was subscribed 3.83 times.

The Paramatrix Technologies IPO opened for subscription on Tuesday, August 27 and will close on Friday, August 30. The allotment of shares is expected to be finalised on Monday, September 2, and the stock could be listed on the NSE SME on Wednesday, September 4.

Paramatrix Technologies IPO details

The Paramatrix Technologies IPO is an SME IPO of ₹33.84 crores. It is not an entirely new issue but a combination of a fresh issue of 27.59 lakh shares and an offer for sale of 3.18 lakh shares. The issue price has been fixed at ₹110 per share, and the minimum lot size for retail investors is 1,200 shares. This means retail investors are required to invest a minimum amount of ₹1,32,000 in the issue.

Inventure Merchant Banker Services Pvt Ltd is the book-running lead manager, while Bigshare Services Pvt Ltd is the registrar of the Paramatrix Technologies IPO.

The company said it will use the net proceeds of the fresh issue for capital expenditure for building infrastructure, investment in its suite of accelerators to enhance its service offerings, geographical expansion in the Middle East and East Asia; and for general corporate purposes.

About Paramatrix Technologies

Paramatrix Technologies is a Mumbai-headquartered IT software services company that develops software applications and provides technology solutions to large enterprises and midsize businesses. The company claims to have successfully served clients in BFSI, retail, manufacturing, sports, pharmaceuticals, and logistics.

According to the RHP, the company's total revenue for FY22, FY23 and FY24 stood at ₹2,824.66 lakh, ₹3,332.44 lakh and ₹2,859.93 lakh, respectively. Profit after tax (PAT) for FY22, FY23 and FY24 came at ₹678.94 lakh, ₹707.56 lakh and ₹413.17 lakh, respectively.

Paramatrix Technologies IPO GMP

The last grey market premium (GMP) of Paramatrix Technologies IPO is zero. As the issue price of the IPO is ₹110, the last GMP shows the expected listing price of Paramatrix Technologies SME IPO is ₹110.

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