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).
(This is a developing story. Please check back for fresh updates.)