Parmeshwar Metal Limited's Exciting IPO Announcement

Parmeshwar Metal Limited is set to launch its IPO on January 2, 2025, targeting up to ₹24.74 Cr. The public offering will list on the BSE SME platform with proceeds funding a new facility in Gujarat. The company will manufacture copper wires with a focus on innovation and expansion.

On January 1, Parmeshwar Metal Limited announced its plan to initiate an Initial Public Offering (IPO) on January 2, 2025. The company aims to raise up to ₹24.74 Crores by listing its shares on the BSE SME platform.

The IPO consists of 40,56,000 equity shares priced with a face value of ₹10 each. This offering is divided based on investor categories, with specific allocations reserved for qualified institutional buyers, non-institutional investors, and retail investors.

Proceeds from the IPO will finance the establishment of a new manufacturing facility in Gandhinagar, Gujarat, focusing on bunched copper wire production. The company, known for its high-quality copper wire rods, plans to expand its portfolio. Financially, Parmeshwar showcased impressive results in FY24, with substantial revenues and profits.

(With inputs from agencies.)