Paramatrix Technologies made a flat market debut on Wednesday, September 4. Its shares are listed at ₹115 each on the NSE SME, representing a mere 5 per cent premium over the issue price of ₹110 apiece.
The IPO achieved an overall subscription rate of 9.21 times. The SME IPO, valued at ₹33.84 crore, includes a fresh issue of 27.59 lakh shares aggregating ₹30.35 crore and an offer for sale of 3.18 lakh shares aggregating ₹3.50 crores.
The company plans to use the net proceeds from the fresh issue for capital expenditures, investment in a suite of accelerators to enhance the service offerings, geographical expansion in the Middle East and East Asia, and general corporate purposes.
Paramatrix Technologies, established in 2004, specializes in providing software applications and technology solutions tailored to the needs of large and medium-sized businesses.
Its offerings are broadly divided into two categories:
Digital Transformation Services: This includes a range of services such as Application Development and Maintenance (ADM), Solution Architecture and Design, and Enterprise Data Management & Data Analytics.
It also offers specialized solutions like INSIGHT for analytics, MIS & reporting, PERFORM for employee performance management, EPPM for work allocation and scheduling, PACE for centralized control middleware, ITCS for managing employee share trading compliance, DROANA for virtual classrooms, EVENTJET for event log monitoring and management, BULWARK for cloud security posture assessment, and PLAYMITY, a SaaS-based gamification platform.
Managed Services: These services encompass application-managed services, cyber security services, and cloud and data support services.
Paramatrix Technologies serves a diverse client base, including BFSI, retail, manufacturing, sports, pharma, and logistics.
The company's financial performance shows revenues of ₹28.25 crore in FY22, ₹28.25 crore in FY23, and ₹28.60 crore in FY24. The net profit stood at ₹6.79 crore in FY22, ₹7.08 crore in FY23, and ₹4.13 crore in FY24.
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