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Unlisted shares of Parmeshwar Metal Ltd are trading at Rs 96 apiece in the grey market, which is a 57.38 per cent premium over the upper IPO price of Rs 61. It indicates a strong listing gain for investors on January 9.
IPOs in 2025
Parmeshwar Metal IPO: The initial public offer (IPO) of Parmeshwar Metal Ltd was opened for public subscription on Thursday. The price of the Rs 24.74-crore BSE SME IPO has been fixed in the range of Rs 57 to Rs 61 per share. Till 6:54 pm on the first day of bidding on Thursday, the IPO received a 13.79 times subscription receiving bids for 3,71,72,000 shares against 26,96,000 shares on offer.
So far, the non-institutional investors (NII) category has received a 9.65 times subscription, while the quota for retail investors got subscribed by 23.44 times.
The IPO will be closed on Monday, January 6.
Parmeshwar Metal IPO GMP Today
According to market observers, unlisted shares of Parmeshwar Metal Ltd are trading at Rs 96 apiece in the grey market, which is a 57.38 per cent premium over the upper IPO price of Rs 61. It indicates a strong listing gain for investors on January 9.
Parmeshwar Metal IPO: More Details
The Parmeshwar Metal IPO is entirely a fresh issue of 40.56 lakh shares. Its price band has been fixed at Rs 57 to Rs 61 per share.
The IPO will remain opened for subscription between January 2, 2025, and January 6, 2025. The allotment for the Parmeshwar Metal IPO is expected to be finalised on Tuesday, January 7, 2025. Parmeshwar Metal IPO will list on BSE SME with tentative listing date fixed as Thursday, January 9, 2025.
For investors, the minimum lot size for an application is 2,000. The minimum amount of investment required by retail investors is Rs 1,22,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to Rs 2,44,000.
Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Parmeshwar Metal IPO, while Link Intime India Private Ltd is the registrar for the issue.The market maker for Parmeshwar Metal IPO is Spread X Securities Private Limited.
