Parmeshwar Metal
Book Building issueSMEBSE₹24.74 Cr issue
+38.52%
Listing gain over issue price
Issue size
₹24.74 Cr
1 lot at cut-off
₹1,22,000
Lot size
2,000shares
Open
02 Jan 2025
Close
06 Jan 2025
Allotment
07 Jan 2025
Listing
09 Jan 2025
Listing performance
Issue price
₹61
Listed at
₹84.50
Listing-day close
₹88.72
Latest price
₹267.25
Close on 23 Oct 2026
Listing gain
+38.52%
Return since issue
+338.11%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 02 Jan 2025 – 06 Jan 2025
- Listing date
- 09 Jan 2025
- Face value
- ₹1 per share
- Issue price
- ₹61 per share
- Lot size
- 2,000 shares
- Issue type
- Book Building issue
- Listing at
- BSE
- Total issue size
- ₹24.74 Cr
- Market cap at offer price
- ₹93.37 Cr
- Promoter holding
- 96.33% → 70.81% pre-issue → post-issue
- ISIN
- INE0QQJ01021
- Registrar
- MUFG Intime India Pvt.Ltd.
- Lead managers
- Beeline Capital Advisors Pvt.Ltd.
- Registered office
- Office at Survey No.130 P & 131, State Highway No.69 Sampa Lavad Road, Village Suja Na Muvada, Post-Sampa, Dehgam, Gujarat
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 11,54,000 | — | — |
| Market maker | 2,06,000 | — | — |
Application size
Minimum 2,000 shares per lot, in multiples, at ₹61
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 2,000 | ₹1,22,000 |
| S-HNI (min) | 2 | 4,000 | ₹2,44,000 |
| S-HNI (max) | 8 | 16,000 | ₹9,76,000 |
| B-HNI (min) | 9 | 18,000 | ₹10,98,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Shares allocated
11,54,000
Anchor portion
₹7.04 Cr
at ₹61 per share
Valuation and performance
Valuation at offer price
₹61 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 6.42 | 6.39 |
| P/E (×) | 9.50 | 9.55 |
| Price to book (×) | 1.84 | — |
| Market cap | — | ₹93.37 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 19.40%
- ROCE
- 17.51%
- Debt / equity
- 0.59
- PAT margin
- 0.66%
- NAV per share
- ₹33.07
- Price to book
- 1.84
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Parmeshwar Metal
Parmeshwar Metal Limited, originally incorporated as a private limited company on August 4, 2016, was converted to a public limited company on January 4, 2024. The company is ISO 9001:2015 certified and engages in the manufacturing of copper wire and copper wire rods by recycling copper scrap. Its manufacturing facility is located in Gandhinagar, Dehgam, Gujarat. The company manufactures products suited for diverse applications including power cables, building wires, transformers, the automotive industry, household cables, bare and enamelled wires. The company's object is to create consistent value for customers by delivering quality products and best services at optimum cost through continuous improvement, maintaining integrity and excellence in all aspects of operations.
Company Analysis
from RHPParmeshwar Metal Limited manufactures copper wire and copper wire rods through copper scrap recycling, serving applications across electrical cables, power transmission, transformers, automotive, and building wiring industries.
Parmeshwar Metal Limited, originally incorporated as a private limited company on August 4, 2016, was converted to a public limited company on January 4, 2024. The company is ISO 9001:2015 certified and engages in the manufacturing of copper wire and copper wire rods by recycling copper scrap. Its manufacturing facility is located in Gandhinagar, Dehgam, Gujarat. The company manufactures products suited for diverse applications including power cables, building wires, transformers, the automotive industry, household cables, bare and enamelled wires. The company's object is to create consistent value for customers by delivering quality products and best services at optimum cost through continuous improvement, maintaining integrity and excellence in all aspects of operations.
copper wire and wire rod manufacturingelectrical cables and wiringpower transmissiontransformersautomotivebuilding/household wiringenamelled wire manufacturing
Objects of the Issue
- Setting up a new manufacturing facility at Gandhinagar, Dehgam, Gujarat for manufacturing of Bunched copper wire and 1.6 MM Copper Wire ₹218.08 Lakhs p.23
- Funding of capital expenditure for Furnace renovation ₹186.67 Lakhs p.23
- To Meet Working Capital Requirements ₹1392.17 Lakhs p.23
- General Corporate Purpose p.24
- Setting up a new manufacturing facility at Gandhinagar, Dehgam, Gujarat for manufacturing of Bunched copper wire and 1.6 MM Copper Wire ₹218.08 lakhs p.105
- Funding of capital expenditure for Furnace renovation ₹186.67 lakhs p.105
- To Meet Working Capital Requirements ₹1,392.17 lakhs p.105
- General Corporate Purpose p.105
- Setting up a new manufacturing facility at Gandhinagar, Dehgam, Gujarat for manufacturing of Bunched copper wire and 1.6 MM Copper Wire ₹218.08 lakhs p.117
- Funding of capital expenditure for Furnace renovation ₹186.67 lakhs p.117
- To Meet Working Capital Requirements ₹1,392.17 lakhs p.117
- General Corporate Purpose p.117
Issue Structure
- Total Issue
- 4,056,000 Equity Shares aggregating up to ₹ [●] Lakhs
- Fresh Issue
- 4,056,000 Equity Shares aggregating to ₹ [●] Lakhs
- Offer for Sale
- Not Applicable
- Price Band
- To be decided by the Company in consultation with the BRLM
- Lot Size
- [●] Equity Shares and in multiples of [●] Equity Shares thereafter
- Face Value
- ₹10/- per Equity Share
Business Model
The company manufactures copper wire and copper wire rods from recycled copper scrap. Revenue is generated through the sale of these products to customers across multiple industries on a purchase order basis. Raw material cost represents approximately 95.70% of total income, indicating a high-volume, low-margin business model dependent on consistent production and sales growth.
Business Segments
Made from 8 MM Copper Wire Rod, used in Electronics, Automotive, Telecommunications and Power Distribution Industry for power transmission, data and signal cables, control and instrumentation cables, general wiring in buildings, transformers, motors, enamelled wire and conductors for energy and heat transfer systems.
Copper wire rods produced through recycling of copper scrap, available tailored to meet customer specifications.
Made by twisting together multiple strands of 1.6 MM Copper Wire. Highly flexible, compact, and conductive material used in Electronics, Automotive, Telecommunications and Power Distribution Industry.
Manufacturing of copper wire rods in 8 MM and 12.5 MM sizes from recycled copper scrap, used in power cables, building wires, transformers, automotive industry, and bare and enamelled wires
Manufacturing of 1.6 MM copper wire from recycled copper scrap for applications requiring flexibility and electrical conductivity
Sale of recycled copper scrap as a by-product
Manufacturing and sale of copper wire and copper wire rods through recycling copper scrap
Sale of traded copper and metal products
Revenue from services rendered
Manufacturing and sale of copper wire rods from copper scrap recycling
Sale of copper scrap byproducts from manufacturing process
Manufacturing and sale of copper wire products including value-added 1.6mm copper wire
Sale of miscellaneous by-products and scraps from manufacturing
Sales of services related to manufacturing operations
SWOT Analysis
Strengths
- • ISO 9001:2015 certification for manufacturing excellence(p.22)
- • Diversified product portfolio across multiple applications(p.42)
- • Strong capacity utilization improving trend(p.46)
- • Lower promoter acquisition cost vs IPO price(p.53)
- • Existing manufacturing capacity with modern equipment(p.105)
- • Established customer relationships and product portfolio(p.105)
- • Experienced promoter and management with 30+ years in metal industry(p.147)
- • ISO 9001:2015 certification with rigorous quality control measures(p.144)
- • Strong customer relationships enabling long-term retention(p.147)
- • High capacity utilization demonstrating operational efficiency(p.145)
- • Customized product offering tailored to customer specifications(p.147)
- • Diversified supplier base across multiple states and countries(p.147)
- • ISO 9001:2015 certified operations(p.241)
- • Experienced management team with 30+ years sector expertise(p.241)
- • In-house testing laboratory for quality control(p.241)
- • Clean governance structure with independent directors(p.183)
- • No criminal cases or serious offences against directors(p.180)
- • Established operational scale with consistent production growth(p.244)
- • Value-added product focus with higher margins(p.244)
- • Diversified geographic presence with concentrated market access(p.245)
- • Positive financial metrics and profitability(p.244)
- • Strong operating cash generation capability(p.252)
Weaknesses
- • Significant litigation exposure with material contingent liabilities(p.40)
- • Geographic concentration of operations in Gujarat(p.41)
- • Heavy dependence on limited customer base(p.42)
- • Dependence on limited suppliers for raw materials(p.43)
- • Significant contingent liabilities unresolved(p.43)
- • Operating on purchase order basis without long-term customer contracts(p.41)
- • Prior negative cash flow from operations(p.43)
- • Material debt burden with floating rate exposure(p.49)
- • High dependence on furnace capacity and maintenance(p.110)
- • Concentration risk in capital structure—promoters hold 96.33% pre-issue(p.97)
- • Working capital intensive operations with unappraised fund deployment plans(p.55)
- • No monitoring agency appointed despite fund deployment plans(p.54)
- • Short credit payment terms with suppliers (1-2 days)(p.114)
- • Concentration of revenue among top customers(p.145)
- • Dependence on suppliers for uninterrupted raw material supply(p.156)
- • Limited regional reach with 99.95% domestic revenue concentration(p.146)
- • Small workforce of only 26 employees with limited management depth(p.156)
- • Thin profit margins with PAT margin of only 0.75%(p.145)
- • Dependence on few customers(p.199)
- • High leverage with debt exceeding paid-up capital(p.180)
- • Significant related party borrowings(p.180)
- • No formal dividend policy(p.199)
- • Declining profitability and ROE(p.239)
- • Significant dependence on limited customer base(p.255)
- • Declining profitability and returns on equity(p.243)
- • Thin profit margins indicating low operating leverage(p.242)
- • Material GST litigation with significant contingent liabilities(p.259)
- • Restructured debt obligations increasing finance costs(p.247)
Opportunities
- • Expansion into new product line (Bunched Copper Wire)(p.24)
- • Indian economy strong growth trajectory(p.22)
- • Modernization and technology upgradation potential(p.48)
- • Capacity expansion into new products (bunched copper wire)(p.107)
- • Market expansion through enhanced credit terms and customer outreach(p.111)
- • Enhanced corporate visibility and liquidity through public listing(p.105)
- • Strategic growth through M&A and alliances enabled by IPO capital(p.115)
- • Expanding geographical presence in unserved markets(p.148)
- • Growing copper demand from renewable energy and EV sector(p.138)
- • Forward integration through bunched copper wire manufacturing(p.148)
- • Government support for Make in India and manufacturing sector(p.138)
- • Per capita copper consumption growth potential in India(p.138)
- • Growing demand for copper recycling(p.241)
- • Expansion of product applications(p.241)
- • Diversified product portfolio(p.241)
- • Resource conservation through recycling(p.241)
- • Strategic expansion of value-added copper wire product line(p.244)
- • Geographic market expansion within India(p.245)
- • Domestic market concentration with limited export presence(p.245)
- • Capacity utilization and production scaling opportunities(p.244)
Threats
- • Raw material price volatility and limited long-term supply agreements(p.44)
- • Fragmented market with intense competition from organized and unorganized players(p.46)
- • Disruption risks to utilities supply (power, water, natural gas)(p.47)
- • Single manufacturing facility concentration risk(p.47)
- • Regulatory and compliance requirements for approvals and licenses(p.49)
- • Technology obsolescence risk(p.49)
- • Foreign exchange rate fluctuation exposure(p.50)
- • Labour availability and cost pressures(p.47)
- • Dependence on third-party transportation providers(p.50)
- • COVID-19 pandemic risks to operations and supply chain(p.55)
- • Regulatory and tax regime uncertainty in India(p.56)
- • Equity share dilution and stock price volatility post-IPO(p.54)
- • Environmental compliance stringency and potential operational restrictions(p.55)
- • Listing and trading delays with stock exchange approval uncertainty(p.56)
- • Geopolitical and natural disaster risks affecting operations(p.56)
- • Price volatility of raw material copper scrap(p.156)
- • Competition from large organized players with better financial resources(p.155)
- • Dominance of unorganized competitors in copper wire and rod market(p.155)
- • Global metal price volatility and economic slowdown risks(p.135)
- • Disruption of raw material supply adversely affecting operations(p.156)
- • Copper price volatility and raw material cost fluctuations(p.199)
- • Intense competition in metal industry(p.241)
- • Regulatory and compliance requirements(p.183)
- • Outstanding disputed GST liability(p.227)
- • Volatile global copper market price impact on operations(p.243)
- • Material regulatory and compliance risks from tax authorities(p.259)
- • Raw material scarcity and supply chain disruptions(p.242)
- • Import duty and customs compliance exposures(p.246)
- • Economic sensitivity and market cyclicality risks(p.242)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Shantilal Kailashchandra Shah | Promoter | 12.47% | 9.16% |
| Mr. Suchitkumar Maheshbhai Patel | Promoter | 15.00% | 11.03% |
| Mr. Piyush Giriraj Shah | Promoter | 10.97% | 8.06% |
| Mr. Radheshayam Jankilal Shah | Promoter | 6.23% | 4.58% |
| Mr. Parth Maheshbhai Patel | Promoter | 7.50% | 5.51% |
| Mr. Pratik Radheshyam Shah | Promoter | 6.33% | 4.66% |
| Mrs. Kailashben Radheshyam Shah | Promoter | 5.03% | 3.70% |
| Mr. Shantilal Kailashchandra Shah | Promoter | 12.47% | 9.16% |
| Mr. Suchitkumar Maheshbhai Patel | Promoter | 15.00% | 11.03% |
| Mr. Piyush Giriraj Shah | Promoter | 10.97% | 8.06% |
| Mr. Radheshayam Jankilal Shah | Promoter | 6.23% | 4.58% |
| Mr. Parth Maheshbhai Patel | Promoter | 7.50% | 5.51% |
| Mrs. Kailashben Radheshyam Shah | Promoter | 5.03% | 3.70% |
| Mr. Pratik Radheshyam Shah | Promoter | 6.33% | 4.66% |
| Mr. Shantilal Kailashchandra Shah | Promoter/Managing Director | — | — |
| Mr. Piyush Giriraj Shah | Promoter/Chairman | — | — |
| Mr. Suchitkumar Maheshbhai Patel | Promoter/Whole Time Director | — | — |
| Mr. Shantilal Kailashchandra Shah | Promoter/Managing Director | 12.47% | — |
| Mr. Suchitkumar Maheshbhai Patel | Promoter/Whole Time Director | 15.00% | — |
| Mr. Piyush Giriraj Shah | Promoter/Chairman | 10.97% | — |
| Mr. Radheshayam Jankilal Shah | Promoter | 6.23% | — |
| Mr. Parth Maheshbhai Patel | Promoter | 7.50% | — |
| Mr. Pratik Radheshyam Shah | Promoter | 6.33% | — |
| Mrs. Kailashben Radheshyam Shah | Promoter | 5.03% | — |
| Shantilal Kailashchandra Shah | Promoter | — | — |
| Suchitkumar Maheshbhai Patel | Promoter | — | — |
| Parth Maheshbhai Patel | Promoter | — | — |
Leadership
Mr. Shantilal Kailashchandra Shah · MD/Managing Director
Mr. Suchitkumar Maheshbhai Patel · Whole-Time Director
Ms. Dhara Motka · Company Secretary and Compliance Officer
Mr. Vijay Kumar Shaileshbhai Shah · Chief Financial Officer (CFO)
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
Offer documents
Parmeshwar Metal IPO FAQs
What is the lot size of Parmeshwar Metal IPO?
The minimum lot size of Parmeshwar Metal IPO is 2,000 shares. One lot costs ₹1,22,000 at the cut-off price.
When does Parmeshwar Metal IPO open and close?
Parmeshwar Metal IPO opened for subscription on 02 Jan 2025 and closed on 06 Jan 2025.
What is the listing date of Parmeshwar Metal IPO?
Parmeshwar Metal IPO listed on 09 Jan 2025.