Raipur-Based Shri Hare-Krishna Sponge Iron to Launch ₹29.91 Crore IPO for Expansion
Shri Hare-Krishna Sponge Iron Limited, a key manufacturer of sponge iron, has announced its Initial Public Offering (IPO) to raise up to ₹29.91 crore. The public issue is scheduled to open for subscription on Tuesday, June 24, 2025, and will close on Thursday, June 26, 2025. The company aims to list on the NSE’s SME platform.
The IPO is a fresh issue of 50,70,000 equity shares, with a price band set at ₹56 to ₹59 per share.
The primary objective of the fundraising is to fuel capital expenditure. A significant portion of the proceeds, ₹23 crore, is earmarked for the establishment of a captive power plant at the company’s manufacturing facility in Siltara, Raipur. The remaining funds will be allocated for general corporate purposes. The move to set up a captive power plant is seen as a strategic step towards enhancing operational efficiency and reducing energy costs.
More About The Company
Incorporated in May 2003, Shri Hare-Krishna Sponge Iron operates a manufacturing unit in Raipur, Chhattisgarh, with an annual production capacity of 30,000 metric tonnes. The company supplies sponge iron, a crucial raw material for steel production, to markets in Maharashtra, Madhya Pradesh, and Chhattisgarh. The manufacturing facility boasts several key certifications, including ISO 9001:2015 for quality, ISO 14001:2015 for environmental management, and ISO 45001:2018 for occupational health and safety.
Shri Hare-Krishna Sponge Financial Overview
The company’s financial data shows a mixed trend. For the fiscal year ending March 31, 2025, Shri Hare-Krishna Sponge Iron reported revenue of ₹83.60 crore and a profit after tax (PAT) of ₹9.20 crore. This represents a slight decrease from the previous fiscal year (FY24), which saw revenues of ₹84.93 crore and a PAT of ₹10.17 crore. The company’s assets and net worth have shown consistent growth over the past three years, standing at ₹93.16 crore and ₹73.59 crore, respectively, as of March 2025.
Shri Hare-Krishna Sponge IPO Details for Investors
IPO Open Date Tuesday, June 24, 2025
IPO Close Date Thursday, June 26, 2025
Price Band ₹56 – ₹59 per Share
Lot Size 2,000 Shares
Total Issue Size ₹29.91 Crore
Listing At NSE SME
Tentative Listing Date Tuesday, July 1, 2025
Retail investors can bid for a minimum of one lot of 2,000 shares, requiring an investment of ₹1,18,000 at the upper price band. High Net-worth Individuals (HNI) must apply for a minimum of two lots (4,000 shares), amounting to ₹2,36,000.
Post-issue, the promoter and promoter group’s shareholding will be diluted from 100%.
Hem Securities Limited is the book-running lead manager for the issue, with Kfin Technologies Limited serving as the registrar. The tentative date for the finalization of share allotment is Friday, June 27, 2025.
IPO Documents
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