Parmeshwar Metal : Parmeshwar Metal shares get listed at 38.52% premium!Parmeshwar Metal : Parmeshwar Metal shares get listed at 38.52% premium!

Parmeshwar Metal Ltd shares debuted on the BSE SME platform at ₹84.50 per share, marking a 38.52% premium over the IPO price, reflecting strong investor demand and a positive market response to the listing.

Parmeshwar Metal IPO witnessed an overwhelming response during its 3-day bidding period, achieving a remarkable subscription of over 563 times. This extraordinary demand highlights strong investor interest and confidence in the company’s prospects within the BSE SME platform.

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Parmeshwar Metal Limited, established in August 2016, specializes in manufacturing copper wires and rods from recycled copper scrap at its Dehgam, Gujarat facility. ISO 9001:2015 certified, it offers products like 1.6 mm, 8 mm, and 12.5 mm rods, catering to industries including power cables, transformers, automotive, and household wires. The company employs 89 individuals as of December 31, 2023.

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Parmeshwar Metal Ltd plans to use IPO proceeds for a new manufacturing facility, furnace renovation, working capital requirements, and general corporate purposes to boost production capacity, efficiency, and overall growth.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.