Parmeshwar Metal IPO details: Parmeshwar Metal, a copper manufacturing company with an edge in recycling copper scrap is set to open its IPO for bidding today (January 2). The bidding window will be opened for a subscription period of three days and is scheduled to close on January 6, with price band set between the range of Rs 57 to Rs 61 per share.
Parmeshwar Metal IPO – GMP
As per the latest trend, during the early hours today, Parmeshwar Metal IPO’s shares in the grey market is commanding at a premium of Rs 20 per share. This indicates a potential listing price of Rs 81, highlighting a gai of 32.79 per cent as of now.
The GMP is often viewed as a barometer of market sentiment. However, it is important to note that GMP is an unofficial price and is an informal indicator of market sentiment. It may fluctuate based on demand, supply, and overall market conditions.
Parmeshwar Metal – Key details of the IPO
The Parmeshwar Metal IPO is a book-built issue worth Rs 24.74 crore, consisting entirely of a fresh issue of 40.56 lakh shares.
Lot Size – Minimum application size is 2,000 shares.
Retail Investment – Starts at Rs 1,22,000 for one lot.
HNI Investment – Requires a minimum of 2 lots (4,000 shares), amounting to a sum of Rs 2,44,000.
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Risk Factors
As per the DRHP filed by the company, some of the risk disclosure filed by the company include,
“We have certain outstanding litigation against us, an adverse outcome of which may adversely affect our business, reputation and results of operations.”
“Our operations are concentrated in the state of Gujarat and any adverse developments affecting Gujarat could have an adverse effect on our business, results of operations and financial condition.”
“We generally do business with our customers on purchase order basis and do not enter into long-term contracts with them.”
Allotment and Listing
The allotment of shares of Parmeshwar Metal IPO after its subscription period is expected to be finalised on January 7, with listing scheduled for January 9, on the BSE SME platform.
Anchor Investment and Lead Managers
Prior to the opening of the issue, the company had raised Rs 7.04 crore from anchor investors.
Beeline Capital Advisors serves as the book-running lead manager, while Link Intime India acts as the registrar for the issue. The market maker role has been entrusted to Spread X Securities.
About the company and Financial Highlights
Parmeshwar Meta, founded in 2016, specialises in the manufacturing of copper wire and rods through a sustainable approach of recycling copper scrap. Its manufacturing unit is located in Dehgam, Gujarat,
Coming to financial highlights, the company between FY 2023 and FY 2024 reported a revenue of 13 per cent and saw its profit after tax (PAT) dip by 19 per cent in the same period.