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26 Jun, 2025
Shri Hare-Krishna Sponge Iron Limited IPO
Shri Hare-Krishna Sponge Iron Limited has launched its Initial Public Offering (IPO) on June 24, 2025 with a closing on June 26, 2025. The IPO comprises a fresh issue of up to 50,70,000 equity shares with a face value of Rs. 10 each. The price is in the band of Rs. 56 to Rs. 59 per share making approximately Rs. 29.91 crore at the upper price band. For retail investors, the minimum application lot size is 2,000 shares. The shares will be listed on the NSE SME platform with a scheduled listing date of July 1, 2025.
Company Background
Shri Hare-Krishna Sponge Iron Limited was founded in 2003 and is headquartered in Raipur, Chhattisgarh. The firm specializes in the production of sponge iron, a vital input for the induction and electric arc furnace-based steel industries. The company’s manufacturing unit covers an area of 13.45 acres with a maximum yearly concrete capacity of thirty thousand metric tonnes. The company has the required certifications for quality control such as ISO certifications for quality (ISO 9001:2015), occupational health and safety management (ISO 45001:2018) and environment (ISO 14001:2015).
Operations & Product Range
Facility & Production:
The company operates a single manufacturing plant located in Raipur with a capacity of 30,000 metric tonnes per annum. The plant is equipped with excellent quality control mechanisms with different ISO certifications that ensure standardized product quality.
Brands & Market Presence:
Shri Hare-Krishna Sponge Iron Limited primarily serves the steel industry by supplying sponge iron, which is essential for steel production. The company has established long-standing relationships with its customers, although a substantial portion of its revenue depends on a few key clients without firm long-term commitments.
Revenue Channels
The company’s revenue primarily comes from the manufacturing and sale of sponge iron. The company has reported a revenue of ₹83.6 crore with a profit after tax (PAT) of ₹9.2 crore which reflects a 10% decline year on year. The business of the company is dependent on the steel
division where fluctuation in the energy costs and the pricing of the material also impact the profitability.
Management & Shareholding
Promoters & Shareholding:
Anita Tradelinks Private Limited, Buxom Trexim Private Limited, Shyam Sunder Parasrampuria, Manoj Parasrampuria and Manish Parasrampuria are the main promoters of the company. Currently, the promoters hold 100% shares of the company, which is expected to decrease to approximately 73.58%.
Board Members:
Mr. Manoj Parasrampuria serves as the Chairman and Managing Director, while Mr. Abhishek Parasrampuria is the Chief Financial Officer. The management team is described as well-qualified and experienced, contributing to the company’s operational strengths.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Shri Hare-Krishna Sponge Iron Limited IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Shri Hare-Krishna Sponge Iron Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | June 24, 2025 to June 26, 2025 |
| Listing Date | - |
| Face Value | ₹10 per share |
| Issue Price Band | ₹56 to ₹59 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 50,70,000 shares (aggregating up to ₹29.91 Cr) |
| Reserved for Market Maker | 2,58,000 shares (aggregating up to ₹1.52 Cr) |
| Net Offered to Public | 48,12,000 shares (aggregating up to ₹28.39 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,41,21,050 shares |
| Share Holding Post Issue | 1,91,91,050 shares |
Shri Hare-Krishna Sponge Iron Limited IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Tue, Jun 24, 2025 |
| IPO Close Date | Thu, Jun 26, 2025 |
| Tentative Allotment | Fri, Jun 27, 2025 |
| Initiation of Refunds | Mon, Jun 30, 2025 |
| Credit of Shares to Demat | Mon, Jun 30, 2025 |
| Tentative Listing Date | Tue, Jul 1, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 26, 2025 |
Shri Hare-Krishna Sponge Iron Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹1,18,000 |
| Retail (Max) | 1 | 2000 | ₹1,18,000 |
| HNI (Min) | 2 | 4,000 | ₹2,36,000 |
Shri Hare-Krishna Sponge Iron Limited IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| 100% | 73.58% |
Competitive Strength:
- ● In-house manufacturing facility ensures control over production quality
- ● Stringent quality control mechanisms ensure standardized product quality
- ● Long-standing relationships with customers in the steel industry
- ● Experienced and qualified management team
- ● The company has various ISO certifications for quality, environment, occupational health and safety management
Shri Hare-Krishna Sponge Iron Limited IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31-Mar-25 | 93.16 | 83.6 | 9.2 | 73.59 | 11.39 | |||||||||||||||||||||||||||||||||||
| 31-Mar-24 | 75.74 | 84.93 | 10.17 | 64.39 | 7.24 | |||||||||||||||||||||||||||||||||||
| 31-Mar-23 | 58.58 | 95.25 | 10.53 | 54.22 | 0.75 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 13.33% |
| ROCE | 14.70% |
| Debt/Equity | 0.15 |
| RoNW | 12.51% |
| PAT Margin | 11.43% |
| EBITDA Margin | 13.40% |
| Price to Book Value | 1.29 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 6.51 | 4.79 |
| P/E (x) | 9.06 | 12.31 |
IPO Objectives
The primary objectives of the IPO proceeds are:
- Funding the setup of a captive power plant at Siltara, Raipur, with an allocation of approximately Rs. 23 crore
- General corporate purposes to support business growth and operational needs
Conclusion
Shri Hare-Krishna Sponge Iron Limited’s IPO offers investors an opportunity to participate in a specialized segment of the steel manufacturing supply chain. With a stable manufacturing base, ISO certifications experienced management, the company aims to strengthen its infrastructure through the IPO proceeds. However, investors should consider risks related to energy price volatility, customer concentration and regulatory history before subscribing.
RHP:
DRHP:
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Frequently asked Questions (FAQs )
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1. What are the open and closing dates for Shri Hare-Krishna Sponge Iron IPO?
The IPO is opening on June 24, 2025 and closing on June 26, 2025.
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2. What is the price band and lot size for the IPO?
The price band is Rs. 56 to Rs. 59 per equity share, with a minimum lot size of 2,000 shares.
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3. What is the issue size of the IPO?
The issue size is approximately Rs. 29.91 crore through the fresh issue of 50,70,000 equity shares.
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4. What are the objectives of the IPO proceeds?
The IPO proceeds will be used primarily to fund the setup of a captive power plant and for general corporate purposes.
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5. What is the company’s production capacity?
The company’s manufacturing plant has an annual production capacity of 30,000 metric tonnes of sponge iron.
