New Delhi [India], January 01: 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 is 40, 56,000 equity Shares 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.
Beeline Capital Advisors Private Limited is the book-running lead manager, and Link Intime India Private Ltd is the registrar for the issue.
Key Highlights:
• Total Issue Size – 40,56,000 Lakhs Equity Shares of ₹10 each
• Issue Size – 24.74 Crs. (At Upper Price Band)
• Price Band – ₹ 57- ₹61 Per Equity Share
• Lot Size – 2000 Equity Shares
