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 ₹62 today (−51.1% 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
Read from the 372-page prospectus. Indian prospectuses list hundreds of risk factors, most of them generic boilerplate. These are the 14 specific to this company; 149 generic ones were skipped. Every one is quoted verbatim with its page, so you can check it against the document.
The company has encountered significant limitations due to the unavailability of certain historical data from 1996 to 2006... specific assumptions have been made regarding changes in Capital Structure, General Information, Our History, Our Management
Cases against group entities ... Taxation Matters 15 5,066.95
Our proposed capital expenditure of ₹6167.71 lakhs, which forms a significant portion of the Objects of the Issue, has been determined by our management based on budgetary quotations obtained from vendors and internal assessments... no firm orders have been placed, and the cost estimates have not been independently appraised by a bank or technical agency... no hedging arrangements have been undertaken
Our Company had negative cash flows from our operating activities as well as investing activities in the previous year(s)
Our Company had, in the past, advanced amounts aggregating to ₹679.20 lakhs to certain suppliers / business associates towards proposed business expansion... the entire amount was fully provided for
Majority of our revenue is dependent on single business segment i.e. manufacturing and trading of fiber, yarn and knitted cloth which comprises of 100% of our total revenue from operations
Punjab ... 11,061.07 90.64% ... 10,572.32 94.04% ... 9103.09 98.12%
our top 10 customers contributed approximately 54.81%... our top 10 suppliers accounted for approximately 62.61%... We do not have long-term agreements with these customers or suppliers
Our Company manufacturing facilities are located at Village-Mangarh, Machiwara Road, Kohara, Ludhiana 141 112, Punjab, India... Being dependent on our sole manufacturing facility heightens our exposure
Our trade receivables increased significantly from ₹1,260.75 lakhs in FY 2023-24 to ₹2,114.21 lakhs in FY 2024-25 and ₹2,539.76 lakhs in FY 2025-26... cash conversion cycle from 49 days... to 76 days
Our Registered Office, head office, Factory unit and godown from which we operate, have been acquired on lease basis from our Promoter, third party and Group Company
Post this Issue, our Promoters and Promoter Group will collectively own 59.63 % of our equity share capital... Such a concentration of ownership may also have the effect of delaying, preventing or deterring a change in control
CSR-2 ... 29/10/2024 21/01/2026 449; MGT-7 ... 263 days delay; GSTR-9C ... 153 days delay
FORM GST DRC-01 Demand-cum-Show Cause Notice dated 29th September 2025 ... alleging excess availment of Input Tax Credit (ITC) amounting to ₹24,65,207 ... Further, on 1st June, 2026 Company received FORM GST ASMT-10 ... alleged excess availment of IGST input tax credit amounting to ₹37,74,913
Extracted from the issuer’s own prospectus and ranked by how specific and material each risk is to this company. Severity is our assessment of the disclosure, not a prediction — and nothing here is a recommendation to apply to this issue.
The issuer’s own summary of outstanding legal proceedings — SEBI requires this table in every prospectus. Counts and amounts are as disclosed.
| Against | Criminal | Tax | Other material | Amount at stake |
|---|---|---|---|---|
| The company | 0 | 20 | 1 | — |
| Promoters | 2 | 1 | 1 | — |
| Directors | 0 | 0 | 0 | — |
| Group companies | 0 | 16 | 0 | — |
Income Tax demand on Paramount Syntex Ltd for AY 2024-25 u/s 143(1)(a) of Rs 3,47,98,590 (~Rs 3.48 crore); company paid Rs 1.25 crore in Sept 2025 and disputed Rs 13,49,694 plus interest Rs 15,84,373
Paramount Syntex Pvt Ltd (Company as complainant) vs M/s Johar Karyana Store & Anr - Section 138 NI Act complaint for dishonour of two cheques totalling Rs 1,98,00,000 (~Rs 1.98 crore); accused Pankaj Johar declared proclaimed person on 10.08.2026
GST Show Cause Notice DRC-01 to Paramount Syntex Ltd dated 30.09.2025 for FY 2021-22 - proposed demand of Rs 87,15,482 (~Rs 0.87 crore) comprising tax Rs 43,57,741 plus equivalent penalty under Section 74 CGST Act; reply filed, pending order
State of Punjab vs Bhagwan Dass & Ors (CHI/1988/2025 arising from FIR 224/2023) - alleged Rs 20+ crore fraud involving forged vendor agreements and fake Future Group/Reliance dealership schemes; Director Punit Arora is complainant; next hearing 05.10.2026
Punit Arora vs State of Punjab (CRM-M-40956-2025) - petition in Punjab & Haryana HC to quash re-investigation order dated 15.04.2025 in FIR 224/2023; dismissed for want of prosecution on 26.02.2026
Counts derived from individually listed proceedings; no consolidated SEBI summary table appears in this section. Aggregate Income Tax outstanding demand against Company per letter dated 21.01.2026 is Rs 3,69,82,672 (~Rs 3.70 crore). Aggregate quantified GST demands against Company total ~Rs 4.34 crore across 8 GST notices (5 system-generated DRC-01, 2 ASMT-10 scrutiny, 1 DRC-01 SCN). Company has no subsidiary. KMP/Senior Management have no proceedings disclosed. All promoter criminal/other matters relate to FIR 224/2023 fraud matter. Group entities comprise Paraspin Impex Pvt Ltd (3 tax notices), Winning Industries (11 tax notices) and Puneet Arora & Sons (HUF) (2 tax notices). All amounts converted to crore (1 crore = 100 lakh = 10 million).. Outstanding means unresolved — a listed case is an exposure, not a verdict.
What the issuer and the exchanges published. Everything else on this tab is read out of these.
