Entry into the market at 38% premium

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 hit ₹88.72 with upper circuit of 5%.
• Before the IPO, 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 working capital requirements.

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.