Parmeshwar Metal Limited's IPO Gets BSE Nod, Aims for Expansion

Parmeshwar Metal Limited, an ISO-certified leader in copper recycling, has received approval from the Bombay Stock Exchange for its IPO. The funds will aid in establishing a new manufacturing plant in Gujarat, modernizing furnace technology, covering working capital needs, and supporting general corporate goals.

In a significant move towards expansion, Parmeshwar Metal Limited has secured approval from the Bombay Stock Exchange (BSE) for its Draft Red Herring Prospectus, marking a key milestone in its journey towards an Initial Public Offering (IPO). The proceeds from the IPO will fuel the establishment of a new manufacturing facility in Dehgam, Gujarat, dedicated to the production of bunched copper wire.

The funds will also support the renovation of its copper melting furnace, address working capital requirements, and meet various general corporate purposes. Parmeshwar Metal Limited, an ISO 9001:2015 certified company, is renowned for its expertise in recycling copper scrap to manufacture high-quality copper wire and wire rods.

The manufacturing unit in Gujarat produces copper wire rods in varying sizes - 1.6 MM, 8 MM, and 12.5 MM - tailored to client specifications. Its products serve a range of applications from power cables to automotive industry needs. Beeline Capital Advisors Private Limited is overseeing the issue, with Link Intime India Private Limited as the registrar. (Please note: The above information was provided by PNN; ANI holds no responsibility for its content.)

(With inputs from agencies.)