New Delhi: Parmeshwar Metal Limited has announced its plan to go public with an Initial Public Offering (IPO) on January 2, 2025, aiming to raise up to ₹24.74 Cr with shares to be listed on the BSE SME platform. The issue comprises 40,56,000 equity shares at a face value of ₹10 each.
Equity Share Allocation:
- QIB Anchor Portion: Not more than 11,54,000 Equity Shares
- Qualified Institutional Buyer: Not more than 7,70,000 Equity Shares
- Non-Institutional Investors: Not less than 5,78,000 Equity Shares
- Retail Investors: Not less than 13,48,000 Equity shares
- Market Maker: 2,06,000 Equity shares
The net proceeds from the IPO will be utilized to Set up a new manufacturing facility at Gandhinagar, Dehgam, Gujarat, for manufacturing Bunched copper wire and 1.6 MM Copper Wire for funding capital expenditure for Furnace renovation to meet working capital requirements and general corporate purpose. The anchor bidding will open on January 01, 2025, and the issue will close on January 06, 2025.
Financials:
- In FY24, The Company Achieved a Revenue of ₹ 1,10,022.81 Lakhs, EBITDA of ₹ 1,112.28 Lakhs, & PAT of ₹ 721.93 Lakhs
- As of October 2024, The Company Achieved a Revenue of ₹75,576.41 Lakhs, EBITDA of ₹ 779.88 Lakhs, & PAT of ₹ 570.29 Lakhs.
Beeline Capital Advisors Private Limited is the book-running lead manager, and Link Intime India Private Ltd is the registrar for the issue.
About Parmeshwar Metal Limited:
It is an ISO 9001:2015 certified company engaged in the manufacturing of copper wire and copper wire rods by recycling copper scrap. The company’s manufacturing facility is situated at Dehgam, Gujarat. The company manufactures copper wire rods that are ideally suited for a wide array of applications. These applications include power cables, building wires, transformers, the automotive industry, household cables, as well as bare and enamelled wires. The Company offers 1.6 MM, 8MM, and 12.5 MM copper wire rods, each of which is tailored to meet customer specifications.
They have an in-house testing lab for testing raw materials and finished products to match the quality standards specified and required by its customers. The company is expanding its business by manufacturing a new product, Bunched Copper Wire.
Disclaimer: This press release may contain forward-looking statements that reflect the Company’s current views with respect to future events. These statements are subject to a number of risks and uncertainties, including but not limited to government regulations, political and economic conditions, technological advancements, and other factors. Actual results could differ materially from those anticipated in these forward-looking statements. The Company disclaims any intention or obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
