Schedule of Paramatrix Technologies
| Issue open date | 27 Aug 2024 |
| Issue close date | 30 Aug 2024 |
| UPI mandate deadline | 29 Aug 2024 (5 PM) |
| Allotment finalization | 02 Sep 2024 |
| Refund initiation | 03 Sep 2024 |
| Share credit | 03 Sep 2024 |
| Listing date | 04 Sep 2024 |
| Mandate end date | 14 Sep 2024 |
| Lock-in end date for anchor investors (50%) | 02 Oct 2024 |
| Lock-in end date for anchor investors (remaining) | 01 Dec 2024 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Paramatrix Technologies
Established in 2004, Paramatrix Technologies is an IT Software Services Company that makes software applications and technology solutions for large enterprises and mid-size businesses. The company has successfully served clients in the BFSI sector, Retail, Manufacturing, Sports, Pharmaceuticals, and Logistics.
The company’s software applications and technology solutions services can be broadly categorized as i) Digital transformation services that include Application development and maintenance (ADM), Solution architecture and design, Enterprise data management & Data Analytics, etc and ii) Managed services like Application managed services, Cyber security services, Cloud & Data support services.
Financials of Paramatrix Technologies
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹33.85 crores |
| Fresh Issue | ₹30.35 crores |
| Offer for sale | ₹3.50 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Capital Expenditure | 9.40 (30.97%) |
| Investment in the suite of accelerators | 6.53 (21.50%) |
| Geographical Expansion in the Middle East and East Asia | 6.15 (20.21%) |
| Issue expenses | 1.10 (3.61%) |
| General corporate purposes | 7.17 (23.61%) |
Strengths
- Quality Certifications: Paramatrix Technologies holds certifications like ISO 9001:2015 and ISO 27001:2013, which are like gold stars for meeting international quality and security standards.
- Trusted by Leading Brands Present Globally: The company has been serving various corporates globally having recognized brands and earned their trust because of consistently delivering high-quality solutions. Many of these corporates have been repeat customers over the last few years and a few of them form part of the top 10 customers during the last 3 years.
Risks
- Third-party dependency: The company avails the services of specific external consultants for certain operations. Any inadequacy or disruption in their services could adversely affect the business operations and reputation.
- Product development and its risks: Product development entails a costly, intricate, and time-consuming process, necessitating a prolonged period for the realization of the investment made. The termination of a product in development, in which the company has invested significant resources, may negatively impact the business prospects, and fail to yield any return on investment.
- Higher working capital requirements: The company has significant working capital requirements and any inability to meet such requirements may adversely affect its results of operations.