Parth Electricals IPO listing: Shares of Parth Electricals & Engineering made a tepid debut on Monday, August 11, listing at ₹174, up 2.4 per cent from its issue price of ₹170. Soon after the listing, the stock hit its 5 per cent upper circuit of ₹182.70.
The SME stock’s listing was broadly in line with expectations, as according to the grey market sources, the stock was anticipated to list at around ₹176.
Parth Electricals & Engineering started as a service company and later moved into manufacturing electrical equipment.
Its products include medium-voltage (MV) switchgear panels, vacuum circuit breaker (VCB) panels, earth link boxes, control and relay panels (CRP), and compact substations (CSS).
The company’s clientele includes Aditya Birla, Ultratech Cement, L&T, RIL, Adani, Tata Power, Schneider Electric, BHEL, Tata Steel, Siemens, GFL, Jindal Steel & Power, and many more.
Parth Electricals IPO details
The ₹49.72 crore SME IPO was a fresh issue of 29.25 lakh shares. Parth Electricals’ IPO price was ₹170 per share.
The issue witnessed a healthy subscription of 23.77 times, with the retail portion booked 20.28 times and the segment reserved for non-institutional investors (NIIs) subscribed 43.93 times. Qualified institutional buyers saw a total subscription of 17.65 per cent.
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