Parmeshwar Metal IPO: Latest GMP, Opening Date, Key IPO Details 

Opening GMP Of Parmeshwar Metal Limited

Parmeshwar Metal Limited experienced a strong surge in its Grey Market Premium (GMP) of about 32.72% over the cap price of Rs 61. The premium in the unlisted market on the opening day indicated that investors are optimistic about the offer and the IPO may list with a premium at an expected price of Rs 81 (Cap price + Rs 20 GMP). 

Key Details About Parmeshwar Metal IPO 

The public offer of Parmeshwar Metal IPO is opened for initial bidding today, i.e. 2nd January 2025. It is entirely a fresh issue of 40.56 lakh shares which aggregates to a total IPO size of  24.74 crores. The issue is set to close its bidding on 6th January 2025 and the listing date as per the RHP document is 9th January 2025. 

The IPO is offered at a price band of Rs 57 to Rs 61. The minimum lot size for the offer is 2000 shares which results in a minimum investment of Rs 1,22,000 for the retail segment and for the HNI segment the the lot size is 4000 shares aggregating to a minimum investment of Rs 2,44,000. 

Objective Of The Parsmeshwar Metal IPO 

1. To set up a manufacturing facility in Gandhinagar, Gujrat to manufacture bunched copper wire and 1.6 MM copper wire. 
2. To fund capital expenditure of furnace renovation
3. To fund working capital requirement 
4. General corporate purposes

About Parmeshwar Metal Limited 

Parmeshwar Metal Limited is an SME organisation that was formerly established as a private limited company under the provisions of the Companies Act 2013. The organisation is engaged in the manufacturing of copper wire and rods through copper scrap recycling. The products manufactured by Parmeshwar Metal Limited are used in distinct set of applications which include power cables, building wires, transformers, household cables and many other. 

The current portfolio of Parmeshwar Metal Limited includes 1.6 MM , 8 MM and 12.5 MM Copper Wires rods which are tailored to customer requirements. To enhance and expand its manufacturing capabilities the company plans to use the IPO proceeds to install additional manufacturing fascility in their existing plant in Gandhinagar, Gujarat.