The IPO of Parmeshwar Metal Limited will open for subscription on Jan 2 and close on Jan 6, 2025. Allotment for shares is expected on January 7. The IPO is expected to be listed on BSE on Jan 9, 2025.
Dec 31, 2024
Parmeshwar Metal Limited, a Gujarat-based manufacturer of copper wires and rods, is bringing out its IPO, aiming to raise INR 24.74 crore with a completely fresh issue of 40.56 lakh shares.
The IPO of Parmeshwar Metal Limited will open for subscription on January 2 and close on January 6, 2025. The allotment for shares is expected on January 7, while the IPO is expected to be listed on the Bombay Stock Exchange (BSE) on January 9, 2025.
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The price band for the IPO is between INR 57 to INR 61 per share with face value of INR 10 each. The minimum lot size is 2000 shares and the minimum investment amount required by retail investors is INR 1,22,000.
The proceeds from the fresh issue will be used to set up a new facility for manufacturing of bunched copper wire and 1.6 mm copper wire rod at Dehgam (Gujarat), renovate the furnace for melting copper, meet working capital requirements and for general corporate purposes.
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Parmeshwar Metal Limited manufactures copper wires and rods by recycling copper scrap. The company’s manufacturing unit is located in Dehgam, Gujarat.
