Kasturi Metal Composite share price hits 5% lower circuit after flat listing

Kasturi Metal Composite shares had a flat opening on the BSE SME today. The shares started trading at ₹64, identical to the issue price of ₹64. Following its debut, the Kasturi Metal Composite stock encountered a 5% lower circuit on the Indian stock market today. Nevertheless, it bounced back and reached the 5% upper circuit limit. The initial public offering (IPO) of Kasturi Metal Composite had a subscription period that ran from Tuesday, January 27 until Thursday, January 29. With a face value of ₹10, shares in the Kasturi Metal Composite IPO are priced between ₹61 and ₹64. At least 2,000 of those shares are up for bid, and there are multiples of those shares available. Kasturi Metal Composite IPO subscription status was 17.75 times on the last day of bidding. Kasturi Metal Composite Limited is involved in the manufacturing, supplying, and exporting of steel fiber products for various industrial uses. The firm produces Steel Wool Fiber for use in brake pads and clutches, trades Durocrete PP Fibers, and provides concrete flooring solutions through Durafloor Concrete Solution LLP. The company offers Duraflex and Durabond products for sectors such as construction, mining, and automotive, delivering solutions for tunnels, roads, bridges, and more, thereby ensuring quality and structural integrity. The business has three facilities in MIDC Amravati: Unit 1 dedicated to fine wire drawing, and Units 2 and 3 focused on the production of steel fibers and mild steel wire, guaranteeing efficient operations and high-quality products. Kasturi Metal Composite has shown consistent growth financially, although its profitability has fluctuated. For the six-month period ending September 2025, the company announced revenues of ₹32.3 crore and a profit after tax of ₹2.47 crore. For the fiscal year 2025, the revenue reached ₹57.2 crore, with a net profit of ₹2.07 crore. Kasturi Metal Composite IPO details Kasturi Metal Composite IPO, valued at ₹18 crore, is entirely a fresh issue. The funds raised from the IPO are primarily intended for capital expenditures. Approximately ₹13.3 crore will be allocated to establishing a new manufacturing plant in Amravati, while the remaining funds will be directed towards general corporate needs. There is no component for offer-for-sale, which means that all the capital generated will benefit the company. Hem Securities Ltd serves as the book running lead manager, and Bigshare Services Pvt Ltd acts as the issue's registrar. Hem Finlease Pvt Ltd is designated as the Market Maker for the company. Kasturi Metal Composite IPO GMP today Kasturi Metal Composite IPO GMP was ₹0, which meant shares were trading at their issue price of ₹64 with no premium or discount in the grey market according to investorgain.com. 'Grey market premium' indicates investors' readiness to pay more than the issue price. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.