Super Iron Foundry Limited IPO: A Comprehensive Update
Super Iron Foundry Limited IPO is a significant event in the Indian stock market, offering investors an opportunity to participate in the growth of a leading iron and steel foundry business. The IPO was opened on March 11, 2025, and closed on March 13, 2025, with a subscription rate of 1.56 times
. The allotment of shares was finalized on March 17, 2025, and the listing is expected on March 19, 2025
.
Key Details of the IPO
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Issue Open Date: March 11, 2025
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Issue Close Date: March 13, 2025
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Allotment Date: March 17, 2025
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Listing Date: March 19, 2025
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Issue Price: ₹108 per share
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Lot Size: 1,200 shares
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Minimum Investment: ₹129,600
Subscription and Market Response
The Super Iron Foundry Limited IPO received a strong response from investors, achieving a subscription rate of 1.56 times
. The retail portion was subscribed 1.79 times, indicating significant interest from individual investors. The grey market premium (GMP) for the IPO was ₹15, suggesting a 14% premium over the issue price
. This positive market response indicates investor confidence in the company’s potential.
Utilization of Proceeds
The net proceeds from the Super Iron Foundry Limited IPO will be utilized for several strategic purposes
:
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Working Capital Requirements: ₹29 crore (42.62%)
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Debt Reduction: ₹16 crore (23.51%)
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Issue-Related Expenses: ₹7.81 crore (11.47%)
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General Corporate Purposes: ₹15.24 crore (22.40%)
Company Overview
Super Iron Foundry Limited, incorporated in 1988, specializes in manufacturing a diverse range of castings, including municipal castings, ductile iron pipe fittings, automotive and agricultural castings, railway castings, and cast-iron counterweights
. The company has a modern robotic production facility in Durgapur, West Bengal, with an annual capacity of 72,000 MT. It exports its products to European and Middle Eastern markets and has contributed to major projects such as the New Hamad Port Project in Qatar
.
Future Prospects
With a strong focus on quality and innovation, Super Iron Foundry Limited is well-positioned to capitalize on the growing demand for high-quality castings in global markets. The proceeds from the IPO will support the company’s expansion plans and strengthen its financial position
.