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Swastika Castal IPO opens today. Check GMP, price band, issue size and other details

Swastika Castal IPO opens today. Check GMP, price band, issue size and other details

Time of India4 days ago
The Rs 14.07-crore IPO of Swastika Castal opened for subscription on Monday. The fixed-price issue is entirely a fresh offering of 21.64 lakh shares, priced at Rs 65 per share. The IPO will close on Wednesday and the listing is expected on BSE SME on July 28.
Despite a strong jump in FY25 profit, the IPO has drawn no premium in the grey market, signaling neutral sentiment from investors going into day one. Retail investors must apply for a minimum of 4,000 shares.
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Horizon Management is the book-running lead manager, and Accurate Securities is the registrar. Horizon Financial Consultants will act as market maker.
About the company
Swastika Castal, incorporated in 1996, manufactures high-quality aluminium castings through sand, gravity, and centrifugal casting processes. The company caters to diverse industrial applications—ranging from electrical equipment and railways to air compressors and insulators.
It boasts in-house heat treatment capabilities and a focus on precision casting, offering solutions for complex geometries and high-performance parts.
Financial performance
The company reported a PAT of Rs 2.63 crore in FY25, up from Rs 0.65 crore in FY24. Revenue rose to Rs 30.31 crore, a 30% increase YoY. EBITDA stood at Rs 4.55 crore, with margins at 15.36%.
At the issue price, the company is valued at Rs 53.07 crore post-issue, translating to a P/E of 20.1x on FY25 earnings.
Proceeds from the issue will be used for capital expenditure on plant and machinery (Rs 5 crore) and working capital requirements (Rs 5 crore)
With a solid financial turnaround and growing sector demand, investors will be closely watching how the IPO fares despite a flat GMP.
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