National, September 30, 2024
Paramount Dye Tec Limited has announced its plan to go public with an Initial Public Offering (IPO) on September 30, 2024, aiming to raise up to ₹28.43 Cr with shares to be listed on the Emerge platform of National Stock Exchange of India Limited. The issue is Up To 24.3 LakhShares equity shares at a face value of ₹ 10 each. Founded in January 2014 as a Partnership Firm and thereafter converted to a Public Limited Company, Paramount Dye Tec Limited produces yarns by recycling waste synthetic fiber, catering to the B2B segment of the textile industry.
Equity Share Allocation
The net proceeds of the IPO will be utilized for setting up of new manufacturing unit for Rs. 16.00 cr., Rs. 4.50 cr. will be for repayment/prepayment of certain debts and Rs. 1.00 cr. for registry of land purchased from promoters, and the rest for general corporate purposes.
Gretex Corporate Services Limited is the Book Running Lead Manager of the Paramount Dye Tec IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Paramount Dye Tec IPO is Gretex Share Broking Limited.
| Mr. Kunal Arora said “We are delighted to announce our upcoming IPO on Emerge platform of National Stock Exchange of India Limited. Paramount aligns with the rising demand for sustainable and circular clothing. We have a prominent position in various high growth markets so we look forward to a great future of the company”.
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About Paramount Dye Tec Limited:
Founded in January 2014 as a Partnership Firm and thereafter converted to a Public Limited Company, Paramount Dye Tec Limited produces yarns by recycling waste synthetic fiber, catering to the B2B segment of the textile industry. The company offers a range of products, including synthetic fiber and yarns such as acrylic, polyester, nylon, wool, hand-knitting, and acrylic blend yarns, known for their quality, durability, and lasting excellence. The company has two manufacturing facilities situated in Village Mangarh and Village Koom Khurd, Punjab.
The company is ISO 9001:2015 and is a Good Manufacturing Practice (GMP) certified organization for a robust Quality Management System.
The company deals in acrylic cloth as well as other products such as blended yarn, nylon, polyester yarns, and acrylic yarn.
Financials
The company has, for the last four fiscals, the posted a total income/net profit of Rs. 16.91 cr. / Rs. 0.16 cr. (FY21), Rs. 23.67 cr. / Rs. 0.16 cr. (FY22), Rs. 46.00 cr. / Rs. 3.16 cr. (FY23), and for two broken periods of FY24, i.e. up to 03.01.24 and from 04.01.24 to 31.03.24 it posted a total income and net profit of Rs. Rs. 29.56 cr. / Rs. 2.79 cr., and Rs. 23.68 cr. / Rs. 3.54 cr. respectively. Thus for entire FY24 it has reported a total income of Rs. 53.24 cr. and earned a net profit of Rs. 6.33 cr.
Disclaimer:
Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
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