Paramount Dye Tec Limited and Subam Papers Limited made their market debut today, both listing at a 6% discount compared to their respective IPO prices on the NSE SME and BSE SME platforms. This cautious market reaction comes despite the strong interest shown during the subscription periods of both IPOs.

Paramount Dye Tec Limited

Paramount Dye Tec Limited, headquartered in Ludhiana, India, has established itself as a prominent manufacturer of recycled synthetic yarn, acrylic fiber yarns, hand knitting yarn, and fancy yarn. With a commitment to sustainability, the company specializes in producing 100% recycled synthetic fibers. The Paramount Dye Tec IPO, which opened for subscription from September 30, 2024, to October 03, 2024, aimed to raise ₹28.43 crores through a fresh issue of 24.30 lakh shares. The IPO price band was set at ₹111 to ₹117 per equity share, with a minimum lot size of 1,200 shares. Retail investors were required to invest a minimum of ₹1,40,400, while High-Net-Worth Individuals (HNIs) had to invest in a minimum of 2 lots (1,400 shares), totaling ₹2,80,800.

As of October 03, 2024, the subscription was reported at 46.63 times, indicating robust investor interest. However, upon listing, the shares debuted at ₹110, reflecting a 6% discount from the upper price band of ₹117.

The Grey Market Premium (GMP) for Paramount Dye Tec Limited was estimated at ₹0, signaling a cautious outlook on potential listing gains. This figure indicates that no significant trading activity occurred based on the GMP, and thus, no real price discovery could be anticipated before the listing on the stock exchange. The GMP is provided purely for educational purposes and does not reflect actual trading conditions.

Subam Papers Limited

Subam Papers Limited, which has made its mark in the kraft paper and paper products industry, also faced a similar fate upon listing. Established in 2004, the company began with the manufacturing of paper cones and has since diversified into duplex board and kraft paper production. The Subam Papers IPO, like Paramount Dye Tec, opened for subscription from September 30, 2024, to October 03, 2024, aiming to raise ₹93.70 crores through a fresh issue of 61.64 lakh shares. The IPO price band was set between ₹144 to ₹152 per equity share, with a minimum lot size of 800 shares. Retail investors needed to invest at least ₹1,21,600, while HNIs were required to invest in a minimum of 2 lots (1,600 shares), totaling ₹2,43,200.

The subscription for Subam Papers was robust, with an overall subscription of 86.49 times recorded by October 03, 2024. However, the shares were listed at ₹143, marking a 6% discount from the IPO floor price of ₹144.

Similar to Paramount Dye Tec, the GMP for Subam Papers Limited also reflected a ₹0 valuation, indicating no expected listing gains.

Conclusion

Both Paramount Dye Tec Limited and Subam Papers Limited exhibited strong subscription rates but faced a disappointing market debut. Investors are advised to consider these listings cautiously as they navigate the current market environment.

The Upcoming IPOs in this week and coming weeks are Pranik Logistics Limited,  Afcons Infrastructure Limited, Archit Nuwood Industries Limited, Hyundai Motor, Swiggy.

The current active IPO is  Khyati Global Ventures Limited IPO, Shiv Texchem Limited IPO, Garuda Construction and Engineering Limited IPO.

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