January 7, 2025
New Delhi, India
Parmeshwar Metal Limited IPO
The Parmeshwar Metal Limited IPO, a small and medium enterprise (SME) offering, is set to finalize its share allotment status on Thursday, January 7, 2025. The IPO, which opened on January 2 and closed on January 6, saw overwhelming demand across investor categories, with a total subscription of 607 times.
Subscription Highlights:
- Retail Investors: Subscribed 597.1 times.
- Non-Institutional Investors (NIIs): Subscribed 1,203.1 times.
- Qualified Institutional Buyers (QIBs): Subscribed over 177 times.
The IPO received bids for 163.65 crore shares against the 26.96 lakh shares on offer.
How to Check IPO Allotment Status:
On BSE Website:
- Visit the BSE IPO status page: BSE Allotment Status.
- Select ‘Equity’ as the issue type.
- Choose ‘Parmeshwar Metal Limited’ from the dropdown menu.
- Enter your PAN or IPO application number.
- Verify using the captcha and click ‘Search’.
On Link Intime Website:
- Visit: Link Intime Allotment Status.
- Navigate to ‘Public Issues’ and select ‘Parmeshwar Metal Limited’.
- Enter details like PAN, application number, or Demat ID.
- Click ‘Submit’ to view allotment status.
IPO Details:
- Offer Size: ₹24.74 crore, entirely through a fresh issue of 40.56 lakh shares.
- Price Band: ₹57–₹61 per share.
- Minimum Investment: ₹1,22,000 (2,000 shares).
- Listing: Scheduled on the BSE SME platform on January 9, 2025.
Use of IPO Funds:
The proceeds will fund the establishment of a new manufacturing facility in Gujarat for producing bunched copper wire rods. This facility will enhance production capacity with advanced machinery, including wire drawing, bunching, and rod breakdown machines.
Company Financials:
Parmeshwar Metal showed consistent revenue growth but faced declining profits in FY24.
| Metric | FY 2021-22 | FY 2022-23 | FY 2023-24 | October 2024 |
|---|---|---|---|---|
| Revenue (₹ Cr) | 902.3 | 972.7 | 1,102.5 | 757.3 |
| Profit After Tax (₹ Cr) | 6.8 | 8.9 | 7.2 | 5.7 |
Promoter Details:
The company’s promoters, including Shantilal Kailashchandra Shah and others, will reduce their holding from 96.33% pre-issue to 70.81% post-issue.
Conclusion:
Parmeshwar Metal’s strong IPO subscription reflects investor confidence in its growth potential. With a focus on enhancing production capabilities and a robust presence in the copper wire industry, the company is poised for future success.
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