Parmeshwar Metal IPO - Day 3 Subscription at 209.86 Times

Parmeshwar Metal's initial public offering (IPO) has received exceptional investor interest over the three-day period. The IPO witnessed remarkable growth in demand, with subscription rates progressing from 13.79 times on day one, to 45.09 times on day two, and reaching an extraordinary 209.86 times by 12:29 PM on the final day.
 

Parmeshwar Metal IPO, which opened on 2nd January 2025, has seen outstanding participation across categories. The Non-Institutional Investors have shown remarkable interest, reaching 304.06 times subscription, while Retail Investors achieved exceptional subscription at 285.20 times. The QIB portion stands at 7.26 times.

Parmeshwar Metal IPO’s robust response comes amid positive sentiment in the Indian stock market, particularly towards companies in the metal manufacturing sector. Being listed on the BSE SME platform, the issue has attracted significant investor attention.
 

Subscription Status of Parmeshwar Metal IPO:

*As of 12:29 PM

Here are the subscription details for Parmeshwar Metal IPO as of Day 3 (6th January 2025, 12:29 PM):

Note:
 

"Shares Offered" and "Total Amount" are calculated based on the upper price of the issue price range.
The portions of anchor investors and market maker are not included in the total shares offered.

Key Highlights Parmeshwar Metal IPO Day 3 Subscription

• Overall subscription achieved remarkable 209.86 times on the final day
• Non-Institutional Investors showing exceptional response at 304.06 times
• Retail investors reached impressive 285.20 times subscription
• QIB portion improved to 7.26 times
• Total bids worth ₹3,451.29 crores received
• Applications reached 2,61,732 showing massive interest
• Market response indicating tremendous demand
• All categories demonstrating substantial oversubscription
• Final day showing extraordinary investor confidence

Parmeshwar Metal IPO - Day 2 Subscription at 45.09 Times

Key Highlights

• Overall subscription grew significantly to 45.09 times
• Retail investors showed strong momentum at 76.86 times
• Non-institutional investors increased to 29.76 times
• QIB portion improved to 0.98 times
• Day two witnessed accelerated participation
• Market response showing growing confidence
• Subscription trend indicating strong demand
• All segments demonstrating substantial growth
• Strong retail participation continuing

Parmeshwar Metal IPO - Day 1 Subscription at 13.79 Times

Key Highlights:

• Overall subscription opened strong at 13.79 times
• Retail investors began remarkably at 23.44 times
• Non-institutional investors started at 9.65 times
• QIB portion awaiting participation
• Opening day showed exceptional response
• Initial momentum indicating robust interest
• Market confidence evident across categories
• Strong retail demand visible from start
• Day one exceeding expectations significantly

About Parmeshwar Metal Limited 

Incorporated in August 2016, Parmeshwar Metal Limited has established itself as a manufacturer of copper wire and rods, specializing in recycling copper scrap. Operating from their manufacturing facility in Dehgam, Gujarat, the company has earned ISO 9001:2015 certification for their operations. Their product portfolio includes specialized copper wire rods in varying dimensions (1.6 mm, 8 mm, and 12.5 mm), serving diverse industries including power cables, building wires, transformers, and automotive applications.

As of December 31, 2023, the company maintains a workforce of 89 employees. Their financial performance shows steady growth with revenue increasing by 13% between FY2023 and FY2024, though experiencing a 19% decrease in PAT during the same period, attributed to copper price volatility. The company reported revenue of ₹1,102.46 crores for FY2024 with a PAT of ₹7.22 crores.

\Their competitive strengths lie in their experienced management team, strong customer relationships, customized product offerings, and robust supplier base for raw materials.

Highlights of the Parmeshwar Metal IPO

• IPO type: Book Built Issue SME IPO
• IPO size: ₹24.74 crores
• Fresh Issue: 40.56 lakh shares
• Face value: ₹10 per share
• Price band: ₹57 to ₹61 per share
• Lot size: 2,000 shares
• Minimum investment for retail investors: ₹1,22,000
• Minimum investment for HNI: ₹2,44,000 (2 lots)
• Market maker reservation: 2,06,000 shares
• Listing at: BSE SME
• IPO opens: 2nd January 2025
• IPO closes: 6th January 2025
• Allotment date: 7th January 2025
• Refund initiation: 8th January 2025
• Credit of shares: 8th January 2025
• Listing date: 9th January 2025
• Lead Manager: Beeline Capital Advisors Pvt Ltd
• Registrar: Link Intime India Private Ltd
• Market Maker: Spread X Securities Private Limited