New Delhi, August 11 (HS): Shares of electrical equipment manufacturer Parth Electricals opened with modest gains on their stock market debut today, listing at ₹174 on the NSE SME platform — a 2.35% premium over the IPO issue price of ₹170. Buying interest post-listing pushed the stock further up, trading at ₹183 by 12 p.m., translating into a 7.72% gain for IPO investors.

The ₹49.72-crore initial public offering, open for subscription between August 4 and 6, witnessed strong investor appetite, oversubscribing 23.77 times overall. Demand was led by the Non-Institutional Investor (NII) category with a 43.93x subscription, followed by Retail at 20.28x and Qualified Institutional Buyers (QIB) at 17.65x.

IPO proceeds will be utilised to establish a GIS manufacturing facility in Gujarat, set up another plant in Odisha, repay short-term borrowings, and for general corporate purposes.

Headquartered in Vadodara, the company counts among its marquee clients Reliance Industries, Adani Group, Tata Power, Aditya Birla Group, BHEL, Tata Steel, Ultratech Cement, Larsen & Toubro, Siemens, GFL, and Jindal Steel & Power, and has also expanded into select international markets.

Parth Electricals’ product portfolio includes medium-voltage switchgear panels, vacuum circuit breaker (VCB) panels, earth link boxes, control and relay panels (CRP), and compact substations (CSS).

Financially, the company has demonstrated robust growth, with revenue nearly doubling from ₹87.17 crore in FY 2023–24 to ₹176.20 crore in FY 2024–25, while net profit more than doubled from ₹4.61 crore to ₹10.12 crore during the same period. The strong listing performance reflects solid investor confidence in its growth prospects and strategic expansion plans.

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Hindusthan Samachar / Jun Sarkar