Paramatrix Technologies will hold a meeting of the Board of Directors of the Company on 11 November 2024Powered by Capital Market - Live

The scrip was listed at Rs 115.05, a premium of 4.59% over the initial public offer (IPO) price. The stock was currently frozen at its upper limit of 5% over its listing price. The counter hit a high of Rs 120.80 and a low of Rs 115.05. About 7.85 lakh shares of the company changed hands at the counter. Paramatrix Technologies' IPO was subscribed 8.66 times. The issue opened for bidding on 27 August 2024 and closed on 30 August 2024. The price of the IPO was fixed at Rs 110 per share. The IPO comprised fresh issue of 27,58,800 shares and an offer for sale of 3,18,000 shares by selling shareholders, Mukesh Keshubhai Thumar and Mahesh Pandurang Goriwale. The promoter and promoter group shareholding diluted to 54.77% from 75.46% pre-IPO. The company intends to utilize the net proceeds for building its infrastructure, to invest in its suite of accelerators to enhance its service offerings, Geographical expansion in Middle East and East Asia, General Corporate Purposes and offer expenses. Paramatrix Technologies is an IT Software Services company, engaged in making software applications and technology solutions for large enterprises and mid-size businesses. The company has served clients in BFSI sector, retail, manufacturing, sports, pharmaceuticals, and logistics. The company has established Digital Transformation Services and Managed Services as its two service line pillars. As on 31 March 2024, the company has 82 employees. The company recorded revenue from operations of Rs 21.13 crore and net profit of Rs 2.96 crore for the period as on 31 December 2023. Powered by Capital Market - Live