Parmeshwar Metal shares were listed at Rs 84.50 on the BSE SME platform on January 9, reflecting a 38.52% premium over its IPO price of Rs 61. The IPO, which raised Rs 25 crore, was highly subscribed, with a subscription rate of over 563 times during the 3-day bidding period from 2 to 6 Jan 2025. Following the listing, the company’s market valuation stood at Rs 129.34 crore.
Parmeshwar Metal IPO Subscription Status
Parmeshwar Metal IPO was subscribed 607.07 times by the close of bidding on January 6, 2025. The retail segment saw a subscription of 597.09 times, while the non-institutional investor (NII) category was subscribed 1,202.83 times. Qualified institutional buyers (QIBs) subscribed 177.32 times. The IPO, which opened on January 2, attracted massive demand across all categories.
Parmeshwar Metal IPO GMP
The last Grey Market Premium (GMP) for Parmeshwar Metal IPO was ₹38, indicating an expected profit of 62.30%. However, the stock listed at ₹84.50, which was below the expected GMP price of ₹99, marking a negative listing.
Details About Parmeshwar Metal IPO
The Parmeshwar Metal IPO will open for subscription on January 2, 2025, and close on January 6, 2025. The issue comprises a fresh offer of 40.56 lakh shares, raising a total of Rs 24.74 crores, with a price band set between ₹57 and ₹61 per share.
The minimum lot size is 2,000 shares, requiring a minimum investment of ₹1,22,000 for retail investors. High-net-worth individuals (HNIs) can apply for a minimum of 2 lots (4,000 shares), amounting to ₹2,44,000. The share allotment is expected to be finalized on January 7, 2025, and the listing will take place on the BSE SME platform on January 9, 2025, providing an opportunity for both retail and HNI investors to participate in the company’s growth.
Parmeshwar Metal IPO Dates
| Event | Date |
|---|---|
| IPO Open Date | Thursday, January 2, 2025 |
| IPO Close Date | Monday, January 6, 2025 |
| Basis of Allotment | Tuesday, January 7, 2025 |
| Initiation of Refunds | Wednesday, January 8, 2025 |
| Credit of Shares to Demat Account | Wednesday, January 8, 2025 |
| Listing Date | Thursday, January 9, 2025 |
| Cut-off Time for UPI Mandate Confirmation | 5 PM on January 6, 2025 |
| Mode of Application | Online and Offline |
| Allotment Status | Available on the Registrar's website after the allotment process |
| IPO Issue Size | ₹24.74 Crore |
Parmeshwar Metal Company’s Financial Background
Parmeshwar Metal Limited has shown consistent growth, as reflected in its financial performance over recent years. As of December 31, 2023, the company reported assets of ₹7,686.32 lakh, revenue of ₹84,069.98 lakh, and a profit after tax of ₹315.26 lakh.
Its net worth reached ₹3,314.15 lakh, with reserves & surplus of ₹2,564.15 lakh. Total borrowings stood at ₹3,281.90 lakh. Over the past few years, assets, revenue, profits, and net worth have steadily increased, demonstrating the company’s expanding market presence and operations.