Paramount Syntex IPO Day 2 subscription stands at 1.33x, led by massive institutional demand. QIBs subscribed 119.29x, while retail interest ticked up to 0.07x.

Subscription Status

The issue has crossed the fully subscribed mark due to heavy QIB interest, although the aggregate multiple remains modest at 1.33x. The disparity between institutional and retail appetite is stark, with QIBs accounting for the entirety of the oversubscription. Retail participation saw a marginal increase from Day 1, rising from 0.03x to 0.07x, but remains well below the issue size.

Subscription Progression

Category-wise Breakdown

Qualified Institutional Buyers (QIB): The category maintained its strong footing from Day 1, closing at 119.29x. This indicates significant confidence from large funds in the company's valuation and business model.

Non-Institutional Investors (NII): Demand remained negligible. Big High Net-worth Individuals (bHNI) subscribed 0.00x, while Small High Net-worth Individuals (sHNI) recorded 0.01x.

Retail Individual Investors (RII): Retail participation ticked up slightly to 0.07x from 0.03x on Day 1, but remains well below the issue size.

Employees: No subscription was recorded from the employee quota, standing at 0.00x.

Intra-day Timeline on 01-10-2026

Offer Details

• Company: Paramount Syntex
• Price Band: ₹119.00 - ₹127.00
• Issue Size: ₹238 crore - ₹500 crore
• Minimum Bid Quantity: 2000 shares
• Opening Date: 2026-09-30 10:00:00
• Closing Date: 2026-10-05

About the Company

Paramount Syntex Limited, incorporated in 1996 and converted to a public limited company in July 2024, is a Mumbai-registered textile manufacturer with factories in Ludhiana, Punjab. The company manufactures synthetic fibres, acrylic/polyester/nylon/blended yarns, and fabric products, supported by in-house dyeing, spinning, bulking, and packing facilities. It processes recycled acrylic fibre sourced domestically and from Thailand, with management bringing over 30 years of industry experience. The company holds ISO 9001:2015, ISO 45001:2018, ISO 14001:2015, and GMP certifications.

Financial Highlights

The company reported total revenues of ₹12,202.99 lakhs (₹122.03 crore) in FY2025-26, showing growth from ₹112.42 crore in the previous year.

Objects of the Issue

• Funding of Capital Expenditure: Utilize net proceeds towards purchase of plant and machinery including spinning machines, dyeing equipment, boilers, humidification systems, and related infrastructure at its existing Ludhiana facilities to expand production capacity and improve operational efficiency.
• General Corporate Purposes: Deploy balance proceeds towards general corporate purposes including business development initiatives, salaries, rent, administration costs, insurance premiums, repairs and maintenance, payment of taxes, and other ordinary course business expenses, subject to a cap of 15% of gross proceeds or lakhs whichever is lower.

Risk Factors

• Single Business Segment Dependency: The company derives 100% of its revenue from a single business segment — manufacturing and trading of fiber, yarn, and knitted cloth — exposing it to risks including demand reduction, increased competition, raw material price fluctuations, and regulatory changes.
• High Customer and Supplier Concentration: The top 10 customers contributed approximately 54.81% of total sales (₹6,688.49 lakhs) in FY 2025-26, while the top 10 suppliers accounted for 62.61% of total raw material purchases. The absence of long-term agreements exposes the company to significant revenue and supply chain disruption risks.
• High Trade Receivables and Liquidity Strain: Trade receivables increased significantly from ₹1,260.75 lakhs in FY 2023-24 to ₹2,539.76 lakhs in FY 2025-26, lengthening the cash conversion cycle from 49 to 76 days. Short-term borrowings stood at ₹2,769.69 lakhs as of March 31, 2026.
• Negative Cash Flows: The company recorded negative cash flows from operating activities of ₹(257.15) lakhs and ₹(73.92) lakhs in FY 2024-25 and FY 2023-24 respectively.
• Sole Manufacturing Facility Risk: All manufacturing operations are concentrated at a single facility in Ludhiana, Punjab, heightening exposure to equipment breakdowns, natural disasters, labor disputes, and regulatory disruptions.

Paramount Syntex IPO Day 2 subscription stands at 1.33x, led by massive institutional demand. QIBs subscribed 119.29x, while retail interest ticked up to 0.07x.

Subscription Status

The issue has crossed the fully subscribed mark due to heavy QIB interest, although the aggregate multiple remains modest at 1.33x. The disparity between institutional and retail appetite is stark, with QIBs accounting for the entirety of the oversubscription. Retail participation saw a marginal increase from Day 1, rising from 0.03x to 0.07x, but remains well below the issue size.

Subscription Progression

Category-wise Breakdown

Qualified Institutional Buyers (QIB): The category maintained its strong footing from Day 1, closing at 119.29x. This indicates significant confidence from large funds in the company's valuation and business model.

Non-Institutional Investors (NII): Demand remained negligible. Big High Net-worth Individuals (bHNI) subscribed 0.00x, while Small High Net-worth Individuals (sHNI) recorded 0.01x.

Retail Individual Investors (RII): Retail participation ticked up slightly to 0.07x from 0.03x on Day 1, but remains well below the issue size.

Employees: No subscription was recorded from the employee quota, standing at 0.00x.

Intra-day Timeline on 30-09-2026

The momentum was heavily concentrated in the second half of the trading day. QIB subscription jumped from 43.58x at 1:15 PM to 95.44x by 2:15 PM, before settling at 107.35x at the close and reaching 119.29x in the final update. Retail participation remained negligible, ticking up only to 0.03x by the end of the day.

Offer Details

• Company: Paramount Syntex
• Price Band: ₹119.00 - ₹127.00
• Issue Size: ₹238 crore - ₹500 crore
• Minimum Bid Quantity: 2000 shares
• Opening Date: 2026-09-30 10:00:00
• Closing Date: 2026-10-05

About the Company

Paramount Syntex Limited, incorporated in 1996 and converted to a public limited company in July 2024, is a Mumbai-registered textile manufacturer with factories in Ludhiana, Punjab. The company manufactures synthetic fibres, acrylic/polyester/nylon/blended yarns, and fabric products, supported by in-house dyeing, spinning, bulking, and packing facilities. It processes recycled acrylic fibre sourced domestically and from Thailand, with management bringing over 30 years of industry experience. The company holds ISO 9001:2015, ISO 45001:2018, ISO 14001:2015, and GMP certifications.

Financial Highlights

The company reported total revenues of ₹12,202.99 lakhs (₹122.03 crore) in FY2025-26, showing growth from ₹112.42 crore in the previous year.

Objects of the Issue

• Funding of Capital Expenditure: Utilize net proceeds towards purchase of plant and machinery including spinning machines, dyeing equipment, boilers, humidification systems, and related infrastructure at its existing Ludhiana facilities to expand production capacity and improve operational efficiency.
• General Corporate Purposes: Deploy balance proceeds towards general corporate purposes including business development initiatives, salaries, rent, administration costs, insurance premiums, repairs and maintenance, payment of taxes, and other ordinary course business expenses, subject to a cap of 15% of gross proceeds or lakhs whichever is lower.

Risk Factors

• Single Business Segment Dependency: The company derives 100% of its revenue from a single business segment — manufacturing and trading of fiber, yarn, and knitted cloth — exposing it to risks including demand reduction, increased competition, raw material price fluctuations, and regulatory changes.
• High Customer and Supplier Concentration: The top 10 customers contributed approximately 54.81% of total sales (₹6,688.49 lakhs) in FY 2025-26, while the top 10 suppliers accounted for 62.61% of total raw material purchases. The absence of long-term agreements exposes the company to significant revenue and supply chain disruption risks.
• High Trade Receivables and Liquidity Strain: Trade receivables increased significantly from ₹1,260.75 lakhs in FY 2023-24 to ₹2,539.76 lakhs in FY 2025-26, lengthening the cash conversion cycle from 49 to 76 days. Short-term borrowings stood at ₹2,769.69 lakhs as of March 31, 2026.
• Negative Cash Flows: The company recorded negative cash flows from operating activities of ₹(257.15) lakhs and ₹(73.92) lakhs in FY 2024-25 and FY 2023-24 respectively.
• Sole Manufacturing Facility Risk: All manufacturing operations are concentrated at a single facility in Ludhiana, Punjab, heightening exposure to equipment breakdowns, natural disasters, labor disputes, and regulatory disruptions.