Shri Hare-Krishna Sponge Iron Limited launches ₹29.91 crore IPO
HT Syndication
New Delhi [India], June 20: Shri Hare-Krishna Sponge Iron Limited, engaged in the manufacturing and sale of sponge iron, has announced the launch of its Initial Public Offering (IPO) on the NSE Emerge platform.
The IPO will open on June 24, 2025, and close on June 26, 2025, with a price band of ₹56 to ₹59 per equity share of face value ₹10 each.
The issue comprises a fresh issue of 50,70,000 equity shares, aggregating to ₹29.91 crore at the upper price band. The issue is being managed by Hem Securities Limited. KFin Technologies Limited is acting as the registrar to the issue.
The minimum application lot is 2,000 equity shares. Allocation is as follows:
- 24,02,000 shares for Qualified Institutional Buyers (QIB)
- 7,24,000 shares for Non-Institutional Investors (NII)
- 16,86,000 shares for Retail Individual Investors (RII)
- 2,58,000 shares for Market Makers
Utilization of Proceeds:
- Funding of Capital Expenditure Requirements of our Company towards set up of Captive Power Plant at Siltara-Raipur: ₹2,300 Lakhs
- General Corporate Purpose
Company Overview
Shri Hare-Krishna Sponge Iron Limited, incorporated in 2003 and based in Raipur, Chhattisgarh, operates in the sponge iron manufacturing segment. The company owns a manufacturing unit spread across 13.45 acres with an annual installed capacity of 30,000 metric tonnes. Sponge iron produced by the company is a key raw material for electric arc and induction furnace-based steel production.
The company is ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certified.
Financial Highlights (FY25):
- Revenue: ₹80.47 crore
- EBITDA: ₹10.78 crore (13.40%)
- PAT: ₹9.20 crore (11.43%)
- ROCE: ~15%
Leadership
- Mr. Manoj Parasrampuria, Chairman and Managing Director
- Mr. Abhishek Parasrampuria, CFO
Investor and Media Contact:
Corporate Communications - Shri Hare-Krishna Sponge Iron Limited
Flat No. 2-D, 2nd Floor, Tower No. 1, Alcove Gloria, 403/1, Dakshindari Road, VIP Road, Sreebhumi, North 24 Parganas, Kolkata - 700048
- Email: cs@shkraipur.com
- Website: www.shkraipur.com
Forward-Looking Statement:
Certain statements in this release may be forward-looking in nature, involving risks and uncertainties that may cause actual outcomes to differ materially. Shri Hare-Krishna Sponge Iron Limited does not undertake to update these statements publicly.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
United News of India
3 hours ago
- United News of India
Marc Loire Fashions Launches Rs. 21 Crore IPO to Fund Retail Expansion
New Delhi [India], June 26: Marc Loire Fashions Limited, a fast-growing player in India's women's footwear market, has announced its Initial Public Offering (IPO) to raise ₹21 crore. The issue opens for subscription on June 30, 2025, and closes on July 2, 2025. The shares will be listed on the BSE SME platform. The public offering comprises 21 lakh equity shares at a fixed price of ₹100 per share. Proceeds from the IPO will be used to: •Open 15 new Exclusive Brand Outlets (EBOs) •Upgrade retail infrastructure •Meet working capital requirements •Address general corporate purposes Founded in 2014, Marc Loire has evolved into a fashion-forward brand offering over 800 SKUs, spanning categories such as heels, sneakers, boots, and ethnic footwear. The company was converted into a public limited entity in 2024. Financial Highlights The company has demonstrated strong top-line and bottom-line growth: •Revenue (₹ crore): FY23 – 37.44 | FY24 – 40.40 | FY25 – 42.46 •PAT Margin (%): FY23 – 1.75% | FY24 – 10.09% | FY25 – 11.08% •Return on Net Worth (RONW): 43.75% •EBITDA margins: On an improving trajectory Post-issue, the company's net worth is expected to increase from ₹10.75 crore to ₹31.75 crore. The IPO is priced at a P/E multiple of 10.63x, suggesting a reasonably valued entry for investors. Distribution Strategy Marc Loire operates through a robust omnichannel model, combining Direct-to-Consumer (D2C) online sales with Business-to-Business (B2B) retail partnerships and Shop-in-Shop (SiS) formats. The company maintains relationships with over 40 vendors to ensure supply chain efficiency and product quality. Market Opportunity India's ₹55,000 crore footwear industry is growing at a CAGR of 15%. With women's footwear representing an increasing share of this market, Marc Loire is well-positioned to tap into the demand for affordable, trend-driven designs. Promoters & Management The leadership team includes: •Arvind Kamboj – Managing Director & Chairman •Shaina Malhotra – Whole-Time Director •Atul Malhotra – Non-Executive Director Each brings more than a decade of domain expertise in the fashion and footwear sectors. IPO Details at a Glance: •Issue Size: ₹21 crore •Issue Price: ₹100 per share •Lot Size: To be announced •Subscription Period: June 30 – July 2, 2025 •Listing Exchange: BSE SME For investors seeking exposure to a growing consumer brand with strong financials and expansion potential, Marc Loire Fashions offers a compelling opportunity to participate in the next phase of India's retail fashion growth story.
Business Standard
2 days ago
- Business Standard
Cedaar Textile Secures ₹9.52 Crore from Anchor Investors Ahead of IPO
VMPL Mumbai (Maharashtra) [India], June 28: Cedaar Textile Limited has successfully completed its anchor book allocation, raising ₹9.52 crore ahead of its upcoming Initial Public Offering (IPO). The anchor book received an enthusiastic response from marquee institutional investors, underscoring strong market confidence in the company's fundamentals and future outlook. A total of 6.8 lakh equity shares were allocated to esteemed anchor institutions at the upper end of the price band, ₹140 per share. Notable participants in the anchor round include: * Velcoe Opportunities Fund - 1,43,000 shares (₹2.00 crore) * SB Opportunities Fund II - 2,15,000 shares (₹3.01 crore) * Shine Star Build Cap Pvt. Ltd. - 1,43,000 shares (₹2.00 crore) * Saint Capital Fund - 1,79,000 shares (₹2.51 crore) The IPO of Cedaar Textile is scheduled to open on June 30, 2025, and will close on July 2, 2025. The company has set a price band of ₹130 to ₹140 per share, with an overall issue size aggregating up to ₹60.90 crore at the upper end. The minimum lot size for application is 1,000 shares. The successful anchor subscription is expected to bolster investor sentiment ahead of the public issue. Cedaar Textile, known for its expertise in the textile sector, plans to utilize the IPO proceeds to fuel its growth and expansion initiatives. Market participants are closely watching the IPO, given the strong institutional interest demonstrated in the anchor round. Investors are advised to carefully review the Red Herring Prospectus (RHP) filed with the NSE for detailed information, including financials and risk factors, before making investment decisions. (ADVERTORIAL DISCLAIMER: The above press release has been provided by VMPL. ANI will not be responsible in any way for the content of the same)
United News of India
2 days ago
- United News of India
Silky Overseas Limited IPO To Open On 30th June, Sets Price Band At ₹153 to ₹161 Per Share
Mumbai (Maharashtra) [India], June 27: Established in May 2016, Silky Overseas Limited manufactures bedding essentials, specialising in blankets, bed sheets, and comforters. The company's manufacturing process encompasses knitting, dyeing, processing, printing, and packaging all under one roof. The company is poised for its initial public offering (IPO), with plans to raise ₹ 30.68 crores through the issuance of 19.06 lakh new shares. For its SME IPO, Silky Overseas Limited has established a price band of ₹ 153 to ₹ 161 per share. The company's shares will open for subscription on June 30, 2025 and closes on July02, 2025. These will be listed on the NSE Emerge, with a projected listing date of Monday, July 07, 2025. Gretex Corporate Services Limited is the book-running lead manager of the Silky Overseas IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for Silky Overseas IPO is Gretex Share Broking Private Limited. The issue proceeds will be utilized in Setting up of Additional Storage Facility, Pre-payment of Certain Debt Facilities, to meet working capital requirements and general corporate purposes. Thursday, July 3, 2025, the shares for the Silky Overseas IPO are anticipated to be allotted, and on Friday, July 4, 2025, the shares will be credited to the demat account of the allottees. The IPO comprises 50% of the net issue for QIB, 35% for retail investors and 15% of the net issue for the NII segment. Retail investors need to contribute a minimum of ₹ 1,28,800 considering the minimum lot size for an application is 800 shares. For HNIs, the minimum bidding size is two lots, or 1600 shares, for a total investment of ₹ 2,57,600 at the upper price band. Silky Overseas Solutions Limited's Total Revenue ₹70.26 Crores, EBITDA ₹11.01 Crores and PAT ₹5.53 Crores for the financial year ending with March 31, 2024. And the total revenue was recorded at ₹105.35 Crores, EBITDA ₹15.08 Crores and PAT was ₹9.17 Crores as on 31st January 2025. The company sell its products under the brand name Rian Decor. Silky Overseas Limited operates manufacturing facilities in Gohana, Haryana, and produces textile products such as mink blankets, bed sheets, and comforters. Silky Overseas Limited offers a wide range of textile products, catering to domestic and international markets.
