SME stock Parmeshwar Metal has made a tremendous start in the market.
Share of Parmeshwar Metal has been listed in the market at Rs 84.50 with a premium of 38.52 percent.
The price of Parmeshwar Metal share in the IPO was Rs 61. The company’s IPO was open for betting on January 2, 2025, and it remained open till January 6.
The total size of the public issue of Parmeshwar Metal was up to Rs 24.74 crore.
The Upper Circuit In Shares After Tremendous Listing
After listing at a premium of more than 38 percent, the share of Parmeshwar Metal has seen a stormy rise.
The share of Parmeshwar Metal has reached Rs 88.72 with an upper circuit of 5 percent.
Before the IPO, the promoters’ stake in the company was 96.33 percent, which has now come down to 70.81 percent.
The company will use the money raised from the IPO to build a new manufacturing unit in Dahegam, furnace renovation for copper melting.
Also, it will meet its working capital requirements.
The company’s IPO Was Subscribed More Than 600 Times
Parmeshwar Metal IPO was subscribed a total of 607.07 times. The retail investors category subscribed 597.09 times in the company’s IPO.
At the same time, the quota of non-institutional investors (NII) was subscribed 1202.83 times.
The Qualified Institutional Buyers (QIB) category subscribed 177.32 times in Parmeshwar Metal’s IPO.
Retail investors could only subscribe for 1 lot in the company’s IPO. There were 2000 shares in one lot of the IPO.
That is, retail investors have had to invest Rs 1,22,000 in the company’s IPO.
Company’s Business
Parmeshwar Metal was started in August 2016. The company manufactures copper wires and rods through the recycling of copper scrap.
The company’s manufacturing unit is in Dahegam, Gujarat. Parmeshwar Metal is ISO 9001:2015 certified.
The company’s products are used in power cables, wire manufacturing, transformers, and the automotive industry.
Quick Fact
| Company name | Parmeshwar Metal |
|---|---|
| IPO Price | ₹61 |
| Listing Price | ₹84.50 |
| Listing Premium | 38.52% |
| Current Price | ₹88.72 |
| Upper Circuit Limit | 5% |
| IPO Open Date | January 2, 2025 |
| IPO Close Date | January 6, 2025 |
| IPO Total Size | ₹24.74 crore |
| Promoters’ Stake (Before IPO) | 96.33% |
| Promoters’ Stake (After IPO) | 70.81% |
| Funds Use | New unit, furnace renovation, working capital |
| IPO Subscription | 607.07 times |
| Retail Investors Subscription | 597.09 times |
| NII Subscription | 1202.83 times |
| QIB Subscription | 177.32 times |
| Retail Investment Lot Size | 2000 shares |
| Retail Investment Amount | ₹1,22,000 |
| Founding Date | August 2016 |
| Core Business | Copper wires and rods manufacturing |
| Raw Material | Recycled copper scrap |
| Factory Location | Dahegam, Gujarat |
| Certification | ISO 9001:2015 |
| Product Usage | Power cables, wires, transformers, automotive industry |
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