Parmeshwar Metal IPO Subscribed over 604.34x on its Last day of subscription

Parmeshwar Metal IPO Subscribed over 604.34x on its last day of subscription wherein QIB subscribed 177.32x, NII subscribed 1,202.44x, and RII subscribed 591.8x.

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 604.34x on its last day till 05.00 PM on 6 January, 2025.

Parmeshwar Metal IPO subscription QIB investors portion is 177.32x times, while NII subscribed 1,202.44x times and RII investors subscribed 591.8x times.
The company has received bids for 1,62,92,88,000 shares against 26,96,000 shares on offer on the last day.
Parmeshwar Metal IPO Subscribed over 45.09x on day 2.
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 ₹40 as of Monday, 6 January. That indicates the IPO is trading at ₹101 with ₹40 premium in the grey market against the issue price of ₹61.

Jagat Joshi

An experienced stock market professional with expertise in IPO research, market insights, and equity strategies. With a strong background in research and capital markets, he delivers comprehensive coverage on upcoming IPOs, subscription patterns, grey market premium (GMP), and post-listing performance, along with detailed reviews, recommendations, and technical analysis.

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Disclaimer: This content is provided strictly for educational and informational purposes. The securities or investments mentioned are not to be considered as investment advice or recommendations. The Investors are advised to do their own research or connect with a financial advisor before making any investment decisions.