Parth Electricals IPO Subscribed 2.24x on Day 2; Retail Bids Outpace QIB Interest Ahead of Final Day

Mumbai, 5 August 2025: Parth Electricals and Engineering Ltd.’s ₹49.72 crore Initial Public Offering (IPO) witnessed a subscription of 2.24 times by the end of Day 2, driven largely by high retail and non-institutional investor (NII) participation. While Qualified Institutional Buyers (QIBs) remained conservative, individual investors and High Net-Worth Individuals (HNIs) showed significantly higher interest as the issue heads into its final bidding day on August 6.

Retail Investors Lead with 2.70x Bids; HNIs Submit 3.85x Applications as of August 5

Retail investor enthusiasm for the Parth Electricals IPO was clearly reflected in the 2.70 times subscription under the Individual Investors category, with 25,64,800 shares bid for against an offer of 9,48,800 shares. This came on the back of strong demand for the two-lot application format, translating into 1,603 retail applications submitted as of 6:04:59 PM on August 5.

Meanwhile, Non-Institutional Investors (NIIs), particularly those bidding over ₹10 lakh (bNII), also turned up in large numbers. The bNII segment saw a subscription of 4.97 times, with 13,48,000 shares bid for against 2,71,200 shares offered. Investors with bids below ₹10 lakh (sNII) contributed a 1.62x subscription, bringing the total NII segment to 3.85 times, supported by 247 total applications.

QIB Interest Remains Tepid at 0.45x Despite Anchor Participation

While retail and NII interest surged, demand from Qualified Institutional Buyers (QIBs) remained muted. By Day 2, QIBs had subscribed to only 0.45 times of their allocated quota, bidding for 2,44,800 shares out of 5,41,600 offered, with just three institutional applications submitted.

Anchor investors had earlier subscribed fully, picking up 8,12,000 shares, amounting to ₹13.80 crore, before the issue opened to the public. Additionally, the Market Maker category was fully subscribed, with 1,46,400 shares allocated.

Day-Wise Subscription Shows Significant Uptick on Day 2 Led by Retail and HNIs

Parth Electricals IPO saw a notable jump in interest on Day 2 compared to Day 1. On August 4, the total subscription stood at 0.83 times, including 0.99x from retail and 1.36x from NIIs. However, as of August 5, the overall subscription jumped to 2.24x, driven by a 2.70x surge in retail and 3.85x in NIIs, highlighting increased momentum as the final day approaches.

Parth Electricals IPO Structure and Key Details

The Parth Electricals IPO is a ₹49.72 crore book-built issue comprising a fresh issuance of 29.25 lakh shares. There is no offer-for-sale (OFS) component in this IPO.

• IPO Price Band: ₹160–₹170 per share
• Lot Size: 800 shares
• Minimum Retail Investment: ₹2,56,000 (for 1,600 shares)
• Minimum HNI Investment: ₹4,08,000 (for 2,400 shares – 3 lots)
• Lead Manager: Horizon Management Private Limited
• Registrar: Kfin Technologies Limited
• Market Maker: Shreni Shares Limited

IPO Timeline: Bidding Window Closes August 6, Listing Likely on August 11

• IPO Open Date: Monday, August 4, 2025
• IPO Close Date: Wednesday, August 6, 2025
• Allotment Date: Thursday, August 7, 2025
• Refunds Initiation: Thursday, August 7, 2025
• Demat Credit: Friday, August 8, 2025
• Listing Date (Tentative): Monday, August 11, 2025
• UPI Mandate Deadline: 5 PM on August 6, 2025

About Parth Electricals and Engineering Ltd: Serving India’s Power Backbone Since 2007

Founded in May 2007, Parth Electricals and Engineering Ltd. began as a service-focused firm and evolved into a manufacturer of critical electrical infrastructure equipment. Headquartered in Vadodara, its manufacturing facility is located in Manjusar, catering to various sectors including cement, power, steel, and infrastructure.

The company’s product line includes Medium Voltage (MV) switchgear panels, Vacuum Circuit Breaker (VCB) panels, Earth Link Boxes, Control and Relay Panels (CRP), and Compact Substations (CSS). Parth Electricals also provides turnkey solutions for Air Insulated Substations (AIS) and Gas Insulated Substations (GIS) up to 220kV, including high-voltage cable laying.

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