IPO Analysis
Paramount Syntex IPO Analysis: GMP, Financials, Valuation & Risks
Paramount Syntex IPO is open from September 30 to October 6, 2026, with a price band of 119 to 127 per share and zero GMP.
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Summary
Paramount Syntex IPO is an SME issue on the BSE SME platform and is open from September 30, 2026 to October 6, 2026. The price band is 119 to 127 per share, the issue size is approximately 82 crores, and the latest unofficial grey market premium is 0 as of 30 Sept 2026, 2:47 am IST.
The company has shown improvement in revenue, PAT, margins, ROE and ROCE across FY24, FY25 and FY26. At the same time, the issue carries SME-style execution and liquidity risks, and the available data also points to moderate leverage and collection-related risk.
IPO snapshot
| Particulars | Details |
|---|---|
| Company | Paramount Syntex |
| IPO type | SME |
| Exchange | BSE SME |
| Issue type | Book build Issue |
| Price band | 119 to 127 Per Share |
| Face value | 10 Per Equity Share |
| Issue size | Approx 82 Crores |
| Fresh issue | Approx 82 Crores |
| Offer for sale | Not available |
| Registrar | Not available |
Dates
| Event | Date |
|---|---|
| Open | September 30, 2026 |
| Close | October 6, 2026 |
| Allotment | October 7, 2026 |
| Refunds | October 8, 2026 |
| Credit to demat | October 8, 2026 |
| Listing | October 9, 2026 |
Market lot
| Application | Lot size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 2000 | 2,54,000 |
| Retail Maximum | 2 | 2000 | 2,54,000 |
| S-HNI Minimum | 3 | 3000 | 3,81,000 |
| S-HNI Maximum | 7 | 7000 | 8,89,000 |
| B-HNI Minimum | 8 | 8000 | 10,16,000 |
Business
Paramount Syntex is described as a small SME manufacturing business with a capex-led fresh issue and moderate leverage. The latest balance sheet shows sizeable inventories and receivables, limited cash, and borrowings that are material relative to equity.
The available material also notes vertical integration in yarn/fibre manufacturing, in-house dyeing and spinning, and improving installed-capacity utilization. At the same time, the business remains relatively small and concentrated in domestic sales and a limited customer and supplier base.
Financials
| Period ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2024 | 92.94 | 87.72 | 1.35 | 60.25 |
| 2025 | 112.72 | 103.54 | 6.73 | 76.09 |
| 2026 | 122.51 | 103.37 | 13.87 | 96.26 |
The figures show steady growth in revenue and a sharp improvement in PAT over the three reported periods. Assets also increased from 60.25 in 2024 to 96.26 in 2026.
Valuation
| Metric | Value |
|---|---|
| ROE | 32.50% |
| ROCE | 29.18% |
| EBITDA margin | 19.33% |
| PAT margin | 11.36% |
| Debt to equity ratio | 0.78 |
| EPS | 11.60 (Basic) |
| P/E ratio | N/A |
| RONW | 32.50% |
| NAV | 35.68 |
The available valuation indicators show improved profitability and return ratios. The P/E ratio is listed as N/A, so a full valuation comparison on that basis is not available here.
GMP
Paramount Syntex IPO has an unofficial grey market premium of 0 as of 30 Sept 2026, 2:47 am IST. Based on that unofficial indication, the estimated listing price is 127 and the estimated listing percent is 0.
| Date | Unofficial grey market premium | Estimated listing percent |
|---|---|---|
| 24 Sept 2026 | 0 | 0 |
| 25 Sept 2026 | 0 | 0 |
| 26 Sept 2026 | 0 | 0 |
| 27 Sept 2026 | 0 | 0 |
| 28 Sept 2026 | 0 | 0 |
| 29 Sept 2026 | 0 | 0 |
| 30 Sept 2026 | 0 | 0 |
This is only an unofficial market indication. It may change quickly and is separate from exchange data.
Strengths
- EBITDA margin expanded from 10.19% in FY24 to 19.33% in FY26.
- PAT margin improved from 1.45% in FY24 to 11.36% in FY26.
- ROE/RONW increased from 9.59% to 32.50% over FY24-FY26.
- ROCE improved from 17.06% to 29.18% over FY24-FY26.
- Installed-capacity utilization improved across businesses, with overall utilization rising from 76.97% in FY24 to 88.77% in FY26.
- Top 10 customers contributed 54.81% of sales in FY26, indicating a reasonably diversified customer book versus FY24.
Risks
- Delayed RoC/mandatory filings across multiple years may trigger penalties and reputational harm.
- Trade receivables have risen materially, stretching cash conversion cycle and increasing collection risk.
- Short-term borrowings and finance costs indicate liquidity pressure and debt servicing burden.
- Potential regulatory non-compliance may attract actions despite no notices as of the RHP date.
- Dependence on backup documents due to unavailable originals may weaken compliance evidence and inspection robustness.
- Forward-looking risks include competition, customer payment delays or default, inability to obtain registrations, and disasters.
Important dates
| Event | Date |
|---|---|
| Open | September 30, 2026 |
| Close | October 6, 2026 |
| Allotment | October 7, 2026 |
| Refunds | October 8, 2026 |
| Credit to demat | October 8, 2026 |
| Listing | October 9, 2026 |
Who may find this IPO relevant
This IPO may be relevant for readers tracking SME issues on BSE SME and for those looking at manufacturing businesses with improving profitability and return ratios. It may also interest readers who focus on issues with a capex-led use of proceeds and can assess higher SME-style business and liquidity risk.
FAQs
What is the issue size of Paramount Syntex IPO?
The issue size is approximately 82 crores.
What is the price band for the IPO?
The price band is 119 to 127 per share.
What is the latest unofficial grey market premium?
The latest unofficial grey market premium is 0 as of 30 Sept 2026, 2:47 am IST.
What are the listing and allotment dates?
Allotment is on October 7, 2026 and listing is on October 9, 2026.
What is the minimum retail amount?
The retail minimum lot size is 2, with 2000 shares and an amount of 2,54,000.