Parmeshwar Metal made an impressive debut on the BSE SME platform, listing at a premium of 38.5% above its issue price. The stock opened at ₹84.5, compared to its IPO price of ₹61, giving early investors great returns.
The IPO was a massive success, with subscriptions closing at an incredible 600 times. Among these, the Non-Institutional Investors (NII) segment stood out, with a record 1200 times subscription. This strong demand shows how much confidence investors have in the company and its potential for growth.
What Does Parmeshwar Metal Do?
Parmeshwar Metal is a company based in Gujarat that recycles copper scrap to make copper wires and copper wire rods. These products are used in many industries, including:
Power cables and building wires
Transformers and automotive parts
Household wiring
Bare and enamelled wires
The company offers products like 1.6 mm copper wire and 8 mm and 12.5 mm copper wire rods, which can be customized to meet customer needs.
Why Copper Recycling Matters
Copper is one of the most recyclable metals in the world. Recycling copper uses much less energy compared to extracting it from natural sources. It also helps conserve natural resources and supports sustainability efforts globally. Parmeshwar Metal’s focus on recycling makes it an environmentally friendly and cost-effective business.
How Will IPO Funds Be Used?
The money raised through the IPO will help the company:
- Build a modern manufacturing facility in Gujarat.
- Upgrade its copper melting furnace to boost production.
- Meet its working capital needs.
- Support other business goals.
These investments will improve the company’s production capacity and prepare it for future growth.
Why Investors Are Excited
The strong demand for copper products, driven by industries like electric vehicles (EVs), power infrastructure, and construction, gives Parmeshwar Metal a bright future. The company’s commitment to delivering quality products and services at affordable costs adds to its appeal.
What’s Next for You?
Parmeshwar Metal’s blockbuster listing has rewarded its early investors handsomely. If you’re interested in exploring opportunities like this, you can register with Angel One and start your stock market journey today.
Parmeshwar Metal Stock