Parmeshwar Metal IPO Closed
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Schedule of Parmeshwar Metal
| Issue open date | 02 Jan 2025 |
| Issue close date | 06 Jan 2025 |
| UPI mandate deadline | 06 Jan 2025 (5 PM) |
| Allotment finalization | 07 Jan 2025 |
| Refund initiation | 08 Jan 2025 |
| Share credit | 08 Jan 2025 |
| Listing date | 09 Jan 2025 |
| Mandate end date | 21 Jan 2025 |
| Lock-in end date for anchor investors (50%) | 06 Feb 2025 |
| Lock-in end date for anchor investors (remaining) | 07 Apr 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Parmeshwar Metal
Established in 2016, Parmeshwar Metal Limited, formerly Parmeshwar Metal Pvt. Ltd., is ISO 9001:2015 certified and specializes in manufacturing copper wires and rods from recycled copper scrap. With over 30 years of promoter expertise, the company serves diverse industries like power, automotive, and household wiring. Its Gujarat-based facility emphasizes quality, sustainability, and safety, aiming to expand with a new bunched copper wire production unit.
Financials of Parmeshwar Metal
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹24.74 crores |
| Fresh Issue | ₹24.74 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Setting up a new manufacturing facility | 2.18 (8.81%) |
| Capital expenditure for Furnace renovation | 1.86 (7.51%) |
| Working capital requirements | 13.92 (56.23%) |
| General corporate purpose | 6.78 (27.45%) |
Strengths
- 30+ years of expertise driving growth
- Long-term partnerships across industries.
- ISO-certified, stringent inspections.
- Tailored wires and rods for diverse needs.
- Sourcing copper locally and globally.
Risks
- Ongoing litigation may impact business and reputation.
- Operations concentrated in Gujarat; regional issues may affect performance.
- Loss of key customers could harm revenue and profits.
- Reliance on few suppliers; loss may disrupt operations.
- Lenders have claims over company assets for finance provided.