Paramount Dye Tec Limited Announces IPO to Raise Rs 28.43 Cr

Paramount Dye Tec Limited aims to raise Rs 28.43 Cr through an IPO scheduled for September 30, 2024. The funds will support manufacturing expansion, debt repayment, and land registry. The equity shares will be listed on NSE's Emerge platform, aiming to capitalize on the growing demand for sustainable textiles.

New Delhi: Paramount Dye Tec Limited is set to go public with an Initial Public Offering (IPO) on September 30, 2024, targeting an impressive Rs 28.43 crore. The company's equity shares will be listed on the Emerge platform of the National Stock Exchange of India Limited.

The IPO will comprise up to 24.3 lakh equity shares, each valued at Rs 10. Allocation includes a market maker quota of 1,22,400 shares, QIB quota not exceeding 50% of the offer, a retail quota of at least 35.03% of the net issue, and an NII (HNI) quota of not less than 15%. The price band is set between Rs 111 to Rs 117, with a lot size of 1,200 shares. Post-issue, the number of shares will rise to 69,42,651 from the pre-issue count of 45,12,651.

Founded in 2014, Paramount Dye Tec Limited specializes in producing yarns from recycled synthetic fibers for the B2B textile sector. The IPO proceeds will fund a new manufacturing unit, debt repayment, and land registry, among other corporate needs. Gretex Corporate Services Limited and Bigshare Services Pvt Ltd will manage the issue, with Gretex Share Broking Limited acting as the market maker.

(With inputs from agencies.)