Parmeshwar Metal’s SME stock has made a great debut in the stock market. The stock was listed at ₹84.50 with a premium of 38.52%, while its IPO issue price was ₹61. This explosive listing has given strong returns to investors.
IPO details
- Issue Opening: 2 January 2025
- Issue closing: 6 January 2025
- IPO size: ₹24.74 crore
Parmeshwar Metal’s IPO received an overwhelming response from investors.
Stock reached upper circuit after listing
After the spectacular listing, Parmeshwar Metal shares continued to rise.
- The stock touched ₹88.72 with upper circuit of 5%.
- Before the IPO, the promoters’ stake in the company was 96.33%, which has now come down to 70.81%.
- Use of funds raised from IPO:
- To build a new manufacturing unit (Dahegam, Gujarat).
- Furnace renovation for copper melting.
- To meet the requirements of working capital.
IPO got tremendous subscription
Parmeshwar Metal’s IPO attracted the attention of investors and was subscribed 607.07 times.
- Retail investors category: 597.09 times.
- Non-Institutional Investors (NII): 1202.83 times.
- Qualified Institutional Buyers (QIB): 177.32 times.
- There were 2000 shares for 1 lot in the IPO.
- Each lot was priced at ₹1,22,000, leading to large investments from retail investors.
Company Business Profile
Parmeshwar Metal was established in August 2016. This company manufactures copper wire and rods by recycling copper scrap.
- Manufacturing Unit: Dahegam, Gujarat.
- The company is ISO 9001:2015 certified.
- Use of products:
- Power cables.
- Wire manufacturing.
- Transformers.
- Automotive Industry.
