Parmeshwar Metal IPO Allotment Status

Summary

Parmeshwar Metal Limited stands as an important player in India's metal manufacturing sector, specializing in producing copper wire and rods through innovative recycling of copper scrap. Operating from their manufacturing facility in Dehgam, Gujarat, the company has earned ISO 9001:2015 certification and creates specialized products that serve various industries, from power cables to automotive components. Their product range includes precisely engineered copper wire rods in dimensions of 1.6 mm, 8 mm, and 12.5 mm, each crafted to meet specific customer requirements.

The company has launched its IPO with a total issue size of ₹24.74 crore through a fresh issue of 40.56 lakh shares. The IPO opened for subscription on January 2, 2025, and concluded on January 6, 2025. The allotment date for the Parmeshwar Metal IPO is scheduled for Tuesday, January 7, 2025.
 

Steps to Check Parmeshwar Metal IPO Allotment Status on Registrar Site

• Visit Link Intime India Private Ltd website.
• Select "Parmeshwar Metal IPO" from the dropdown menu.
• Enter your PAN ID, Demat Account Number, or Application Number.
• Complete the captcha verification and click "Submit."

Steps to Check Parmeshwar Metal IPO Allotment Status on BSE SME

• Visit the BSE or NSE IPO Allotment Page.
• Select "Parmeshwar Metal IPO" from the dropdown menu.
• Enter your Application Number and PAN ID.
• Confirm captcha and click "Search."

Parmeshwar Metal Subscription Status

The Parmeshwar Metal IPO has received an exceptional response from investors, achieving an overall subscription of 607.07 times. Here's a detailed breakdown of the subscription status as of 6:19:07 PM on January 6, 2025:

• Retail Category: 597.09 times
• Qualified Institutional Buyers (QIB): 177.32 times
• Non-Institutional Investors (NII): 1,202.83 times

As of 6:19:07 PM

Utilisation of IPO Proceeds

The company plans to use the raised funds strategically across several key areas:

• Manufacturing Expansion: Setting up a new manufacturing facility in Dehgam, Gujarat, specifically for producing Bunched copper wire and 1.6 MM Copper Wire Rod.
• Infrastructure Enhancement: Renovation of furnaces for copper melting to improve production efficiency.
• Working Capital Management: Meeting the company's working capital requirements to support business growth.
• General Corporate Purposes: Supporting various business objectives and operational needs.

Parmeshwar Metal IPO - Listing Details

The shares are scheduled to list on January 9, 2025, on the BSE SME platform. The overwhelming subscription rate of 607.07 times demonstrates strong investor confidence in Parmeshwar Metal's business model and growth prospects. The company's focus on copper wire and rod manufacturing, combined with its expansion plans, positions it well for future growth. Investors can verify their allotment status through the registrar's website or BSE SME on January 7, 2025, with the shares set to begin trading on January 9, 2025.