The Initial Public Offering (IPO) of Parmeshwar Metal Limited, a leading manufacturer of copper wires and rods, has opened for subscription today. Investors can bid for shares until January 6, 2025. The company plans to raise ₹24.74 crore through this public offering, which will consist entirely of newly issued equity shares.
Key Details of Parmeshwar Metal IPO
- IPO Price Band:
The price band for Parmeshwar Metal’s IPO has been set between ₹57 and ₹61 per equity share, making it affordable for retail and institutional investors. - Lot Size:
Investors can apply in lots of 2,000 shares per bid, ensuring a minimum investment for participation. - Subscription Update:
By on the first day, the IPO had been subscribed 4.90 times overall. The retail segment saw a high demand with a subscription of 8.68 times, while the Non-Institutional Investors (NII) portion was subscribed 3.23 times. - Grey Market Premium (GMP):
The shares are trading at a ₹20 premium in the grey market, indicating strong investor confidence and positive sentiment for this IPO. - IPO Timeline:
- Issue Open Date: January 2, 2025
- Issue Close Date: January 6, 2025
- Allotment Date: Likely on January 7, 2025
- Listing Date: Expected to list on the BSE SME platform by January 9, 2025
Parmeshwar Metal is a trusted name in the manufacturing of metal products, primarily catering to industries that rely on high-quality copper wires and rods. Its reputation for delivering reliable products has earned it a strong position in the market.
While the Parmeshwar Metal IPO has generated significant interest in the market, investors are encouraged to conduct thorough research and consult financial advisors before investing. Consider the company’s growth potential, industry demand, and long-term plans.
With the IPO’s affordable pricing and strong grey market activity, Parmeshwar Metal offers an exciting opportunity for investors looking to diversify their portfolio.
