Paramount Syntex IPO
Paramount Syntex IPO is an SME IPO raising ₹82 Cr at ₹119 – ₹127 a share. It listed on 9 Oct 2026 at ₹115, −9.4% against its issue price of ₹127, and trades at ₹69 today (−45.6% since issue). It was subscribed 1.83× in total.
Just covered — bids slightly exceed the shares on offer
populated partly populated we hold nothing here — the tab says why
What this company actually does
Read out of the prospectus’s business section, stripped of its marketing language.
Paramount Syntex Limited makes yarns and recycled synthetic fibres at a factory in Village Mangarh, Kohara, Ludhiana, Punjab. It processes waste acrylic fibre (procured domestically and imported from Thailand) into recycled fibre it describes as equivalent in quality to virgin fibre, then spins it into acrylic, wool, polyester, nylon and blended yarns, plus acrylic/knitted cloth. Customers are domestic textile manufacturers and knitters. In FY 2025-26, about 90.6% of sales were made within Punjab itself.
How it earns
Revenue comes from selling manufactured acrylic/wool/polyester/nylon yarns, recycled tow/fibre, acrylic/knitted cloth and acrylic waste, with smaller contributions from job work and trading of raw wool/waste.
Who buys
Customer identities are not disclosed in the prospectus (listed only as Customer 1 to Customer 10). Top 10 customers accounted for 54.81% of revenue in FY 2025-26 (₹6,688.49 lakh of ₹12,202.99 lakh, i.e. ~₹66.88 crore of ~₹122.03 crore), 54.93% in FY 2024-25 and 67.36% in FY 2023-24. The single largest customer was 8.52% of sales in FY 2025-26 (₹1,039.57 lakh ≈ ₹10.40 crore). Geographically, sales are almost entirely domestic, with Punjab alone contributing 90.64% in FY 2025-26 (₹11,061.07 lakh ≈ ₹110.61 crore). Exports were nil in FY 2025-26 and just ₹50.72 lakh in FY 2024-25.
Scale
Two factory units at Village Mangarh, Kohara, Ludhiana covering about 7,268.73 sq yards (~4,139.23 sq yards for Unit-1 + 3,129.50 sq yards for Unit-2); 355 permanent employees as of 31 March 2026 (33 admin, 45 production, 259 workers, 14 trainees, 4 civil workers). Stated installed annual capacity: Tow Dyeing 1,350, Hank Dyeing 1,260, Fibre 2,400 and Spinning 1,200 (units not specified in text). FY 2025-26 revenue from operations was ₹12,202.99 lakh ≈ ₹122.03 crore (₹11,241.79 lakh ≈ ₹112.42 crore in FY 2024-25; ₹9,277.86 lakh ≈ ₹92.78 crore in FY 2023-24); conversion 1 crore = 100 lakh = 10 million.
What it says sets it apart
- Vertically integrated in-house set-up covering fibre processing, tow dyeing, hank dyeing, spinning, bulking and packing, reducing dependence on outside processors
- Specialised recycling process that converts acrylic waste fibre (domestic and imported from Thailand) into fibre quality claimed equivalent to virgin acrylic fibre
- Diverse product range spanning acrylic/wool/polyester/nylon/blended yarns, dyed high-bulk yarn (Daffodil), acrylic/knitted cloth and recycled tow, serving knitwear, blankets, hosiery and apparel customers
- In-house R&D team dedicated to quality improvement and customisation of yarn (colour, texture, weight, blend ratios such as 70/30 polyester/acrylic and acrylic-wool blends)
- Holds ISO 9001:2015, ISO 14001:2015, ISO 45001:2018 and GMP certifications, and has its own EHS framework
Revenue mix
The numbers at a glance
The price they’re asking →derived: cut-off price Rs127 / stated EPS Rs11.6 (FY2025-26 (year ended March 31, 2026) basic & diluted EPS, as per Restated Financial Statements, standalone). Stated figures are as printed in the prospectus; margins, growth and the borrowing ratio are computed from its own summary table. A multiple is one lens, not a verdict.
Where the money goes
The offer →Most of this issue is new shares — the money raised goes to the company, not to exiting shareholders.
How its cohort has done
185 SME issues listed in 2026 that we can price today. This is the group this issue belongs to.
Neither figure is a forecast for this issue — they describe what happened to comparable issues. Full cohort analytics →
How the book finished
The category split is the number worth reading, not the total.
QIB: 119× their allocation. Non-institutional: 0.18×.
What we hold for this issue
Stated up front on every issue, so a sparse page reads as a fact about the source rather than a broken one.
What could go wrong
All 14 risks & documents →From the register read out of the issuer’s own prospectus — each item is quoted verbatim with its page on the risks tab.
What happens when
Next: the UPI mandate expires on 17 Nov 2026.
What to watch
- Priced at 10.9× earnings — 53% below the median of the peers the issuer itself names.
- The register's top risk: Missing historical records 1996-2006 forced assumptions (prospectus page 26).
- Its cohort's record: median −2.3% since issue price, 52.4% now below it — a base rate, not a forecast.
Each line restates a disclosure from the prospectus or the exchanges — nothing here is a recommendation to apply to this issue.
Track Paramount Syntex Limited
Results, orders, board decisions and every other filing — summarised and sent to your WhatsApp the minute they are out.
Figures are as published by the exchanges and the issuer’s prospectus. MarketPing publishes facts, comparisons and history only — nothing here is a recommendation to apply to this issue, and we do not publish grey market premium.