Shri Hare-Krishna Sponge Iron IPO to debut today. No GMP seen in unofficial market
Shri Hare-Krishna Sponge Iron is set to list on the NSE SME platform on Tuesday after a fully subscribed Rs 29.91 crore IPO, though grey market premium is currently at Rs 0. The IPO proceeds will primarily fund a captive power plant at its Raipur manufacturing unit. The company reported Rs 83.60 crore in revenue and Rs 9.
Tired of too many ads?
Remove Ads
Tired of too many ads?
Remove Ads
Raipur-based Shri Hare-Krishna Sponge Iron is slated to make its debut on the NSE SME platform on Tuesday following a fully subscribed Rs 29.91 crore IPO. However, the issue is drawing no premium in the grey market, with the GMP currently at Rs 0, reflecting muted listing expectations among investors.The public offer, which ran from June 24 to June 26, was entirely a fresh issue of 50.70 lakh shares priced at Rs 59 apiece.The IPO received anchor backing worth Rs 8.50 crore on June 23, with 14.4 lakh shares allotted to institutional buyers.The registrar to the issue is Kfin Technologies , with Hem Securities managing the book and Hem Finlease acting as market maker.Incorporated in 2003, the company operates a 30,000 metric tonne per annum sponge iron manufacturing unit in Siltara, Raipur, spread over 13.45 acres.Proceeds from the IPO will largely be used to set up a captive power plant at the company's manufacturing site, with Rs 23 crore earmarked for this capex project. The remaining funds will go towards general corporate purposes.On the financial front, the company posted Rs 83.60 crore in revenue and Rs 9.2 crore in PAT for FY25.The absence of grey market interest may reflect broader market caution or limited institutional buzz. Investors will closely watch how the stock performs on debut amid a packed IPO week and several SME listings competing for attention.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
36 minutes ago
- Time of India
Ghaziabad hospital told to pay retired railway employee s 17k for claim process delay
Ghaziabad: District Consumer Disputes Redressal Commission (DCDRC) has directed the Northern Railways chief medical superintendent (CMS) to pay over Rs 17,000 to a retired railway employee — as reimbursement and compensation for claim delay. While payment of Rs 12,398 has been ordered as treatment reimbursement for cataract surgery, that of Rs 5,000 has been directed as the compensation for delaying the payment of the claim. The commission also directed the payment to be made within 45 days of the order, failing which interest calculated at 6% would have to be paid. You Can Also Check: Noida AQI | Weather in Noida | Bank Holidays in Noida | Public Holidays in Noida Passing the order on June 23, the commission, presided over by Praveen Kumar Jain, said railway authorities should have taken necessary steps to initiate payment instead of rejecting the claim on the grounds of incomplete papers "when the claimant is a retired employee of the railways". Devilal Singh, who superannuated from the post of chief medical superintendent (CMS) in 2012, had filed an application before the DCDRC for direction to CMS, Delhi divisional office and assistant chief medical superintendent (ACMS) of Railway Hospital Ghaziabad. The complainant said during retirement, he was provided with a medical card covering him and his family members. He told the commission, "When I felt some problem with my right eye, I consulted the doctors at JP Hospital, Noida, and underwent a surgery on April 10, 2019, for which I paid Rs 35,890. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo Once again, I had some issues with my right eye and was advised by doctors at JP Hospital to undergo a cataract surgery, which was conducted on Oct 1, 2019. This time, I paid Rs 30,500 towards the bills raised by the hospital. When I applied for reimbursement of the treatment cost with ACMS (Railway Hospital Ghaziabad) with all relevant documents, it was rejected, which was not just a deficiency in services but also illegal. " The complainant later filed an RTI application and was informed by the railways that his first claim of Rs 35,890 was settled by the railway department by paying Rs 1,786, as was admissible under the policy of Central Govt Health Service (CGHS). The complainant contended that since he was an employee of the railway, his claims could not be dealt with under the CGHS policy and were governed by the railway board. The counsel for the opponents said that railway authorities follow the railway board policy of 2005, effective since Jan 2007, under which beneficiaries can obtain treatment at hospitals recognised by the railways. "The beneficiaries are free to obtain treatment at any hospital of their choice, but in that case, reimbursement is done according to CGHS rates as applicable," the counsel said. He told the commission the second claim was rejected for inadequacy of documents. Get the latest lifestyle updates on Times of India, along with Doctor's Day 2025 , messages and quotes!
Time of India
36 minutes ago
- Time of India
Talented people need not migrate from UP, says Keshav Maurya
1 2 Lucknow: Talented indisviduals need not migrate from the state or the country as we have ample opportunitiues, said chief guest deputy Chief Minister Keshav Prasad Maurya while addressing the winners and the audience at the Times Leadership Awards in the city. "I want to congratulate all the winners. Be it sports, academics, healthcare, research or entrepreneurship, their contributions need to be acknowledged by each one of us. As residents of 'Uttam Pradesh', I can proudly say that talented individuals from the state do not need to migrate to other states or out of the country to look for suitable opportunities. We all have seen the changed perception of the state in the country. Though till eight years back nobody was interested in investing in the state, the double engine BJP government has managed to secure investments amounting to Rs 50 lakh crore for Uttar Pradesh ," he said Special guest, BJP leader and and a prominent social worker, Neeraj Singh said, "I am proud to be a part of the event which celebrates the contribution of people who have made positive impact on the society. Over the past 11 years, Lucknow has transformed completely and represents the positive changes a strong leadership can bring in." Guest of honour and actor Kunal Kapoor said, "I am overwhelmed to be a part of the leadership awards being organised in Lucknow. I feel proud as I am in the company of people who are taking the country forward." Get the latest lifestyle updates on Times of India, along with Doctor's Day 2025 , messages and quotes!
Time of India
38 minutes ago
- Time of India
Pune customers in wait-and-watch mode to buy gold as prices correct
Pune: Pashan resident Kushagra Agarwal rushed to the jewellers last week as soon as gold prices reduced slightly, to Rs 95,784 per 10g, as he had to buy gold for his son's wedding. With a Rs 3,000 to Rs 4,000 per 10 g reduction in the price of gold, jewellers expect many other residents in the city to walk into stores in the coming days. Tired of too many ads? go ad free now The gold industry has been struggling to find buyers over the last six months as prices have been consistently rising. The price of gold, which was hovering around the Rs 1 lakh mark last month for 10g, is now trading at Rs 96,800/10g grams, excluding GST. Agarwal said: "It is tough to time the market, so we quickly went and booked gold at 9,500/g rate last week. We need to get some jewellery made for our son's wedding, so we have partially made the purchase." Many customers are also waiting to see if the prices drop further. "I need to buy gold jewellery for my daughter's wedding in Dec. I have been looking for a window when prices are lower. The moment it reduces further, I will make a purchase," said Ramesh Marwah, a resident of Wanowrie. Pawan Jagtap, the owner of Siddhi Jewellers in Hadapsar, said opportunistic customers are always waiting for gold prices to correct further before making purchases. "When the price of gold and silver is stable, then there is a good amount of buying. When there are fluctuations, people try to time the market. Gold has gone out of the reach of the common man," Jagtap said. Jewellers at Zaveri Bazaar in Mumbai echoed similar sentiments. "Whenever gold prices reduce, buying activity pauses as there is an expectation that prices will reduce further. The moment it starts climbing again, customers rush to the market to buy," said Anil Jain, a jeweller in Zaveri Bazaar. Tired of too many ads? go ad free now Analysts said that with the price of gold falling to within reach of a six-week low, it is more likely a correction than the beginning of one. "The recent pullback in gold prices has stemmed mainly from the relaxation of geopolitical tensions, along with some profit-booking taking place, following recent strengths," said Renisha Chainani, head of research at Augmont, an integrated gold platform. The festive season is set to begin mid-July, beginning with Shravan, followed by Rakhi, Ganeshotsav, Dasara and Diwali. Buying sentiment has turned positive ahead of the festive season, said Dr Saurabh Gadgil, the chairman and managing director of PNG Jewellers. "Customers have started making their purchases actively, and the current price range seems to have been accepted. Interestingly, recycled gold is contributing to almost 50% of heavy purchases, with people exchanging old designs for new ones," he said.
