Paramount Dye Tec Limited Announces IPO to Raise ₹28.43 Cr

Paramount Dye Tec Limited is set to launch an Initial Public Offering (IPO) on September 30, 2024, aiming to raise ₹28.43 Crores by listing shares on the Emerge platform of the National Stock Exchange of India Limited. The company, known for producing yarns by recycling waste synthetic fiber, plans to utilize the funds for setting up a new manufacturing unit, repaying certain debts, and general corporate purposes.

Paramount Dye Tec Limited has announced plans to go public with an Initial Public Offering (IPO) targeting ₹28.43 Crores. Shares will be listed on the Emerge platform of the National Stock Exchange of India Limited starting September 30, 2024. The offering encompasses 24.3 lakh equity shares with a face value of ₹10 each.

Allocation details include a market maker quota of 1,22,400 shares, a QIB quota of up to 50%, a retail quota of at least 35.03%, and an HNI quota of at least 15%. The price band ranges from ₹111 to ₹117 per share, and the IPO size at cap price totals ₹28.43 Crores. The net proceeds will be utilized for a new manufacturing unit, debt repayment, and other corporate needs.

Founded in January 2014, Paramount Dye Tec Limited specializes in producing yarns from recycled synthetic fiber and caters to the B2B textile industry. The company, ISO 9001:2015 and GMP certified, operates two manufacturing facilities in Punjab. The Book Running Lead Manager for the IPO is Gretex Corporate Services Limited.

(With inputs from agencies.)