On Wednesday, September 4, shares of Paramatrix Technologies Ltd, a tech services firm based in Mumbai, quietly listed on the NSE SME market at a premium of around 5%. The opening price of each Paramatrix Technologies share during the session was ₹115.05, which is higher than the ₹110 price of the company’s IPO. The stock reached the 5% upper circuit at ₹120.8 per share within minutes of trading.
Successful bidders who were given shares in the primary issue would have been sitting on a profit of ₹6,060 per lot (₹5.05 x 1,200) as soon as trading in the stock commenced, since the minimum bid quantity in the Paramatrix Technologies IPO was 1,200 shares. The market had anticipated a muted listing for Paramatrix Technologies because to the lackluster reaction from investors over the matter.
The Rs 33.84-crore public offer combines an offer-for-sale with a new issuance. Compared to a recent SME offering, the IPO’s subscription figures were not as impressive, having only been subscribed to just over nine times. Leading the way were retail investors, who purchased nearly twelve times the amount allotted to them. Once institutional investors had received 6.2 times their share, non-institutional investors came next. The issue was not subscribed to by qualified institutional buyers, or QIBs.
Paramatrix Technologies Financial Performance
The following financial performance has been displayed by the company: From ₹28.25 crore in FY23 to ₹28.60 crore in FY24, revenue climbed somewhat. From ₹7.08 crore in FY23 t matrix Technologies Financial Performance
About the Company – Paramatrix Technologies
Paramatrix Technologies is an IT software services firm based in Mumbai that creates software and offers technological solutions to midrange and big corporations. The business asserts that it has successfully worked with clients in the manufacturing, retail, sports, BFSI, pharmaceutical, and logistics sectors.
