Super Iron Foundry IPO: Latest GMP, Day 1 Subscription Status, Office Size And More
As per InvestorGain, the GMP for Super Iron Foundry IPO stood at Rs 0 as of 9 a.m. on March 11.
Super Iron Foundry Ltd. launched its initial public offering (IPO) on Tuesday to raise Rs 68.05 crore from the primary market. The company manufactures municipal castings, ductile iron pipe fittings, and railway castings.
The BSE SME issue will remain for subscription until Mar. 13. Those who want to bid for Super Iron Foundry IPO can check the following details before investing.
Super Iron Foundry IPO: Offer Size, Price And Key Dates
The Super Iron Foundry IPO is a fixed-price issue comprising only fresh issuance of 63.01 lakh shares. There is no offer-for-sale (OFS) component. The IPO price has been fixed at Rs 108 per share.
Retail investors can invest in the IPO with bids for a minimum lot size of 1,200, amounting to an investment of Rs 1,29,600. The high net-worth individuals (HNIs) can invest in the IPO with bids for at least two lots of 2,400 shares, requiring a minimum investment of Rs 2,59,200.
Allotment of shares is proposed to be finalised on Mar. 17. Credit of shares into the Demat account of successful bidders will be done on Mar. 18. Refunds for the non-allottees will also be initiated on the same day.
Shares of Super Iron Foundry Ltd. are scheduled to be listed on the BSE SME platform on Mar. 19.
Horizon Management Private Ltd. is the book-running lead manager of the Super Iron Foundry IPO. Link Intime India Private Ltd. is the registrar and Giriraj Stock Broking Private Ltd. is the market maker for the IPO.
Super Iron Foundry IPO Subscription Status
The Super Iron Foundry IPO has been subscribed 0.09 times as of 11:54 a.m. on Tuesday.
Non-Institutional Investors: 0.01 times
Retail Investors: 0.16 times
*The subscription status will be updated at regular intervals
Super Iron Foundry IPO GMP Today
As per InvestorGain, the GMP for Super Iron Foundry IPO stood at Rs 0 as of 8:54 a.m. on March 11. It indicates a potential flat listing for the offer.
Note: GMP does not represent official data and is based on speculation.
Super Iron Foundry: Business and Financials
Super Iron Foundry Ltd. manufactures products such as municipal castings, ductile iron pipe fittings, automotive castings, railway castings, and cast-iron counterweights. These are used in construction projects for purposes such as supplying access covers for stormwater.
Use Of Proceeds
The company will use net proceeds from the IPO for funding working capital requirements, repayment of debts and general corporate purposes.
Key Financials
Super Iron Foundry Ltd. reported a 207% year-on-year rise in net profit in FY24 to Rs 3.94 crore against Rs 1.28 crore in FY23. The company’s revenue increased to Rs 156.87 crore, up 24.27% from Rs 126.23 crore in the preceding fiscal.
For the nine months ended December 31, 2024, in the current financial year, the company’s net profit stood at Rs 9.53 crore, while revenue was reported at Rs 94.91 crore.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
