Shares of Paramount Syntex hit the 5 percent lower circuit on the BSE SME platform on October 9, falling to Rs 109.25 shortly after listing at a discount to the company's initial public offering (IPO) price. The stock was down 5% from its opening price of Rs 115 and was trading nearly 14% below the issue price of Rs 127.
Paramount Syntex shares had listed at Rs 115, a discount of 9.45 percent to the IPO price. At Rs 109.25, the stock was trading Rs 17.75 below the issue price, according to data on the BSE SME platform. Following the listing, the company's market capitalisation stood at around Rs 211.59 crore.
Paramount Syntex had fixed the issue price at Rs 127 per share, at the upper end of its price band of Rs 119-127. The company's IPO comprised a fresh issue of 64.40 lakh shares, aggregating Rs 81.79 crore.
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The IPO opened for subscription on September 30 and closed on October 6, 2026. The basis of allotment was finalised on October 7, ahead of the listing on October 9.