Parth Electricals IPO listing: Shares list at a 2% premium at ₹174, hits 5% upper circuit
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.
For the financial year 2022-2023 (FY23), the company's revenue from operations stood at ₹ 65.53 crore, which rose to ₹ 86.78 crore in FY24 and ₹ 174.67 crore in FY25.
The company's profit stood at ₹ 2.45 crore in FY23, ₹ 4.61 crore in FY24, and ₹ 10.12 crore in FY25.
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.
The company intends to use the net proceeds from the issue to establish a GIS manufacturing facility in Gujarat, a manufacturing facility in Odisha, repay short-term borrowings, and for general corporate purposes.
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