Paramount Dye Tec Limited Launches IPO Offering 24.3 Lakh Shares

Key Takeaways from Paramount Dye Tec Limited IPO:

• The IPO is offering a fresh issue of up to 24,30,000 equity shares with a price band of ₹111 to ₹117 per share.
• Investors must bid for a minimum of 1,200 equity shares, with bids in multiples of 1,200 thereafter.
• The IPO is open from September 30, 2024, to October 3, 2024. Anchor investor bidding started on September 27, 2024.
• Shares will be listed on the NSE Emerge platform, with Gretex Share Broking Limited as the market maker.

The price band for the IPO is set between ₹111 and ₹117 per share. Interested investors can place a minimum bid for 1,200 equity shares. The IPO opened on September 30, 2024, and will close on October 3, 2024, while the anchor investor period began on September 27, 2024. The shares will be listed on the NSE Emerge platform, with Gretex Share Broking Limited acting as the market maker for the issue.

The allotment process for the IPO will follow this schedule: the finalisation of the basis of allotment is expected on or about October 4, 2024, with the initiation of refunds or unblocking of funds on October 7, 2024. The credit of shares to the respective Demat accounts is also slated for October 7, and the trading of the shares is set to commence on October 8, 2024. Investors are required to bid in multiples of 1,200 shares after the minimum bid.

The IPO reservation is distributed as follows: Qualified Institutional Buyers (QIBs) will receive up to 50% of the net issue, NonInstitutional Investors (NIIs) will be allocated at least 15%, and Retail Individual Bidders will get at least 35%. A total of 1,22,400 equity shares are reserved for the market maker. This structure ensures a balanced allocation across various investor categories, making the IPO an attractive opportunity for a wide range of market participants.

About Paramount Dye Tec Limited

Paramount Dye Tec Limited, founded in January 2014, specialises in producing high-quality yarns by recycling waste synthetic fibre. Catering to the B2B textile industry, the company offers a wide range of products, including acrylic, polyester, nylon, wool, and blend yarns. With two manufacturing facilities in Punjab, Paramount Dye Tec is ISO 9001:2015 and GMP certified, ensuring a strong focus on quality and durability in its offerings.

 Key Takeaways from the Order Win 

• Lloyds Engineering Works Limited secured orders totalling ₹44 crores for steel eco-pickling systems and marine loading arms. 
• The company is using cutting-edge technologies, such as Eco-Pickled Steel, which eliminates the need for harmful acids in the pickling process.
• Marine Loading Arms leverage Japanese expertise and are manufactured in India, contributing to cost advantages and wider market reach.

The steel eco-pickling systems alone account for ₹50 crore, while the marine loading arms contribute ₹9.3 crore, showcasing the demand for LEWL’s innovative and technologically advanced products.

Mr Shreekrishna Gupta, Whole-Time Director of Lloyds Engineering Works Limited, said: "These orders underscore our strategy of aligning our product offerings with niche, technologically advanced solutions. The Eco-Pickled Steel (EPS) technology is revolutionary, eliminating the use of environmentally harmful acids in the steel pickling industry, which is both costly and damaging. Given that 15-20% of all steel produced is pickled, this leaves a vast market over the next decade. EPS provides a cheaper setup and operational model and produces higher-quality pickled steel, catering to various end-user markets. In addition, our loading arms leverage Japanese technology and expertise, manufactured in India. This ‘Make in India’ approach will give us a significant competitive advantage in both cost and market reach." 

LEWL had earlier signed agreements with The Material Works Ltd. for EPS Gen 4 technology and TB Global Technologies Ltd. for Marine Loading Arms, solidifying its leadership in these innovative sectors.

About Lloyds Engineering Works Limited (LEWL)

Lloyd Engineering Works Ltd, founded in 1994, is an Indian company that specializes in providing customized process plant equipment. They offer a full range of engineering and infrastructure solutions, including design, manufacturing, fabrication, and installation. Their products cater to industries such as carbon, oil & gas, steel, power plants, and nuclear boilers, along with turnkey projects. Their facilities are certified by various authorities like the Industrial Boiler Regulatory Authority and Petroleum and Explosives Safety Organisation. The company has modern manufacturing units in Murbad, Thane, and is based in Mumbai.

Key Takeaways from Zen Technologies Contract:

• The AMC solidifies Zen Technologies' collaboration with the Ministry of Defence, showcasing the trust placed in the company's capabilities.
• This five-year contract ensures continuous support and maintenance for advanced simulators, addressing the operational needs of India's defence forces.
• The contract reinforces Zen's position as a key player in the defence simulation sector, emphasising its expertise in maintaining critical assets.
• Valued at Rs 46 Crores (including 18% GST), this AMC reflects the significant investment in defence technology and maintenance, contributing to the sector's growth.

The AMC strengthens Zen's partnership with the Ministry of Defence and highlights the Ministry's confidence in the company's advanced defence solutions. 

Zen Technologies aims to meet the operational needs of India’s defence forces with its simulator technology. 

This contract reinforces Zen's position as a leader in the defence simulation sector, providing essential maintenance support for critical defence assets.

About Zen Technologies Limited

Zen Technologies Limited is a well-known leader in the industry with more than 30 years of experience in providing advanced Military Training and Anti-Drone solutions. The company focuses on creating high-tech military training simulators, driving simulators, live range equipment, and anti-drone systems. Zen has a dedicated Research and Development (R&D) facility in Hyderabad, recognized by the Ministry of Science and Technology, Government of India, showing its commitment to innovation. The company has applied for over 155 patents, with more than 75 already granted, and has successfully delivered over 1,000 training systems around the world.

The partnership is one of the largest in the Indian diagnostics sector and focuses on improving patient care and accessibility. Krsnaa Diagnostics is recognised for its reach and reputation in providing affordable healthcare services. This partnership will leverage United Imaging’s advanced MRI, CT, and PET CT technologies to enhance diagnostic capabilities in underserved areas.

“We are thrilled to join hands with Medikabazaar and United imaging in what we see as a transformative alliance for the Indian diagnostics industry,” said Rajendra Mutha, Chairman of Krsnaa Diagnostics. “This collaboration not only enables us to expand our footprint into under-served regions but also strengthens our ability to offer cutting-edge imaging services at competitive prices. The unparalleled financial terms provided by United Imaging structured by Medikabazaar speak volumes about the trust they place in our operational excellence and leadership in the sector.” 

The initiative aims to transform diagnostic delivery in semi-urban and rural regions, making world-class imaging technologies available through Krsnaa's extensive network. This collaboration seeks to ensure that even remote populations have access to timely and accurate diagnostic testing, bridging the gap in quality healthcare services.

About Krsnaa Diagnostics Limited:

Krsnaa Diagnostics is a leading diagnostics service provider in India, with a network that spans 18 states and union territories. The company operates over 168 MRI and CT centers, more than 1,400 tele reporting X-ray centers, 120 labs, and over 2,200 collection centers. Krsnaa is dedicated to offering high-quality and affordable diagnostic services, utilizing an advanced cloud-based system that allows for quick deployment and easy integration into various healthcare settings.

About United Imaging and Medikabazaar:

United Imaging is a global leader in high-performance imaging equipment, focused on innovation in diagnostic technology. Medikabazaar is the largest B2B healthcare procurement and supply chain solutions provider in India. It offers a tech-enabled supply chain system that allows hospitals to easily procure the supplies and services they need, helping improve efficiency and making healthcare more affordable and accessible for patients across the country.