- IPO aims to raise ₹24.74 crore.
- Funds will be used for manufacturing expansion, furnace renovation, and working capital.
- Shares priced between ₹57-₹61 per share; minimum bid size is 2,000 shares.
- Listing date is January 9, 2025, on the BSE SME platform.
Parmeshwar Metal Limited, a prominent copper wire and rod manufacturer, is set to go public with an Initial Public Offering (IPO) starting today. The company aims to raise ₹24.74 crore through the issue, with shares listed on the BSE SME platform.
The IPO comprises 40,56,000 equity shares with a face value of ₹10 each. The price band is set between ₹57 to ₹61 per equity share, and investors can bid in lots of 2,000 shares, requiring a minimum investment of ₹1,22,000.
| Investor Category | Allocation |
|---|---|
| QIB Anchor Portion | Not more than 11,54,000 shares |
| Qualified Institutional Buyer | Not more than 7,70,000 shares |
| Non-Institutional Investors | Not less than 5,78,000 shares |
| Retail Investors | Not less than 13,48,000 shares |
| Market Maker | 2,06,000 shares |
Parmeshwar Metal IPO Details
| Parameter | Details |
|---|---|
| Total Issue Size | 40.56 lakh equity shares |
| Issue Size | ₹24.74 crore (at upper price band) |
| Price Band | ₹57 to ₹61 per share |
| Lot Size | 2,000 shares |
| Anchor Bidding | Opens January 1, 2025 |
| Issue Closure | January 6, 2025 |
| Allotment Finalized | January 7, 2025 |
| Listing Date | January 9, 2025 |
The funds raised will finance a new manufacturing facility in Gandhinagar, Gujarat, furnace renovation for copper melting, working capital requirements, and general corporate purposes.
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About Parmeshwar Metal Limited
Parmeshwar Metal Limited, an ISO 9001:2015-certified company, specializes in manufacturing copper wire and rods by recycling copper scrap. Its facility is located in Dehgam, Gujarat, producing high-quality copper wire rods in various sizes like 1.6 mm, 8 mm, and 12.5 mm, serving industries such as:
- Power cables
- Building wires
- Transformers
- Automotive
- Household cables
The company is expanding its portfolio by introducing bunched copper wire and ensuring top-notch quality with its in-house testing lab.
Fund Utilization
The proceeds from the IPO will be used for:
- Establishing a new manufacturing facility in Gandhinagar, Dehgam, Gujarat, for producing bunched copper wire and 1.6 MM copper wire.
- Renovating the furnace for enhanced copper melting operations.
- Meeting working capital requirements.
- General corporate purposes.
Financial Performance
| Period | Revenue (₹ Lakhs) | EBITDA (₹ Lakhs) | PAT (₹ Lakhs) |
|---|---|---|---|
| FY24 | 1,10,022.81 | 1,112.28 | 721.93 |
| As of October 2024 | 75,576.41 | 779.88 | 570.29 |
Disclaimer: The information provided in this article is for informational purposes only and does not constitute financial advice or an endorsement of any IPO or investment opportunity. While we strive to ensure the accuracy of the details shared, the content is based on publicly available information, research, and reports from credible sources. Readers are advised to verify the details independently and consult with a financial advisor before making any investment decisions.Stay informed and exercise caution while making financial decisions.
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