Parmeshwar Metal IPO subscription started on Thursday, January 2, 2025, and will close on January 6, 2025, as per the schedule. The price band is set at ₹57 to ₹61 per share with a face value of ₹10.
Parmeshwar Metal IPO Subscription Status
Parmeshwar Metal IPO Subscribed over 13.79x on its first day till 05.00 PM on 2nd January 2025.
- Parmeshwar Metal IPO subscription QIB investors portion is 0x times, while NII subscribed 9.65x times and RII investors subscribed 23.44x times.
- The company has received bids for 3,71,72,000 shares against 26,96,000 shares on offer on the first day.
- Parmeshwar Metal IPO Subscribed over 13.79x on day 1.
About Parmeshwar Metal IPO
Founded in 2017 in Dahegam, Gujarat, Parmeshwar Metal Limited specializes in manufacturing Copper wire and Copper wire rods by using the practice of recycling copper scrap. They are known to manufacture a variety of copper wire rods which are utilized in different applications such as power cables, building wires, transformers, the automotive industry, household cables as well as bare and enameled wires. Parmeshwar Metal Limited’s product portfolio consists of a wide range of copper wire rods such as 1.6 MM, 8 MM, and 12.5 MM copper wire rods, which can be crafted to fulfill our customer’s needs. Their manufacturing facility consists of an in-house lab, where they ensure their raw materials are safe and made to provide quality products to their customers. They provide tools, fire safety helmets, shoes, hand gloves, face visors, welding black goggles, and other items to give their customers safety. The business made Rs. 315.26 lakh in profit after taxes and Rs. 83920.31 lakh in operating revenue in FY2023.
Parmeshwar Metal IPO Company Financial Report
The company reported revenue of ₹972.71 crores in 2023 against ₹902.27 crore in 2022. The company reported a profit of ₹8.90 crores in 2023 against a Profit of ₹6.85 crores in 2022.
Parmeshwar Metal IPO GMP:
Parmeshwar Metal IPO GMP was ₹20 as of Thursday, 2nd January. That indicates the IPO is trading at ₹81 with ₹20 premium in the grey market against the issue price of ₹61.
