Latest news with #ShriHare-KrishnaSpongeIron
Business Standard
4 hours ago
- Business
- Business Standard
NSE SME Shri Hare-Krishna Sponge Iron cools off post listing
Shares of Shri Hare-Krishna Sponge Iron were trading at Rs 63 on the NSE, a premium of 6.78% compared with the issue price of Rs 59. The scrip was listed at Rs 64.80, a premium of 9.83% compared with the initial public offer (IPO) price. The stock was currently down 2.48% over its listing price. The counter hit a high of Rs 65.75 and a low of Rs 61.60. About 19.36 lakh shares of the company changed hands at the counter. Shri Hare-Krishna Sponge Iron's IPO was subscribed 6.42 times. The issue opened for bidding on 24 June 2025 and it closed on 26 June 2025. The price band of the IPO was set at Rs 56 to 59 per share. The IPO comprised fresh issue of 50,70,000 shares. The promoter and promoter shareholding diluted to 73.58% from 100% pre-IPO. The company intends to utilize the net proceeds for funding capital expenditure requirements of towards setup of captive power plant at Siltara - Raipur and for general corporate purpose. Ahead of the IPO, Shri Hare-Krishna Sponge Iron on 23 June 2025, raised Rs 8.49 crore from anchor investors. The board allotted 14.4 lakh shares at Rs 49 per share to 7 anchor investor. Shri Hare-Krishna Sponge Iron is engaged in the manufacturing and sale of sponge iron, a key raw material used in steel production, particularly in electric arc furnaces and induction furnaces. Through its sponge iron operations, the company serves the metallic needs of steel producers across select geographies. Its manufacturing facility is located in Siltara - Raipur, Chhattisgarh with an annual production capacity of 30,000 metric tonnes. As of 30 April 2025, the company had a total of 92 full time employees.
Economic Times
11 hours ago
- Business
- Economic Times
Shri Hare-Krishna Sponge Iron IPO to debut today. No GMP seen in unofficial market
Shri Hare-Krishna Sponge Iron is set to list on the NSE SME platform. The IPO was fully subscribed at Rs 29.91 crore. Shri Hare-Krishna Sponge Iron is set to list on the NSE SME platform on Tuesday after a fully subscribed Rs 29.91 crore IPO, though grey market premium is currently at Rs 0. The IPO proceeds will primarily fund a captive power plant at its Raipur manufacturing unit. The company reported Rs 83.60 crore in revenue and Rs 9. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Raipur-based Shri Hare-Krishna Sponge Iron is slated to make its debut on the NSE SME platform on Tuesday following a fully subscribed Rs 29.91 crore IPO. However, the issue is drawing no premium in the grey market, with the GMP currently at Rs 0, reflecting muted listing expectations among public offer, which ran from June 24 to June 26, was entirely a fresh issue of 50.70 lakh shares priced at Rs 59 IPO received anchor backing worth Rs 8.50 crore on June 23, with 14.4 lakh shares allotted to institutional registrar to the issue is Kfin Technologies , with Hem Securities managing the book and Hem Finlease acting as market in 2003, the company operates a 30,000 metric tonne per annum sponge iron manufacturing unit in Siltara, Raipur, spread over 13.45 from the IPO will largely be used to set up a captive power plant at the company's manufacturing site, with Rs 23 crore earmarked for this capex project. The remaining funds will go towards general corporate the financial front, the company posted Rs 83.60 crore in revenue and Rs 9.2 crore in PAT for absence of grey market interest may reflect broader market caution or limited institutional buzz. Investors will closely watch how the stock performs on debut amid a packed IPO week and several SME listings competing for attention.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
11 hours ago
- Business
- Time of India
Shri Hare-Krishna Sponge Iron IPO to debut today. No GMP seen in unofficial market
Raipur-based Shri Hare-Krishna Sponge Iron is slated to make its debut on the NSE SME platform on Tuesday following a fully subscribed Rs 29.91 crore IPO. However, the issue is drawing no premium in the grey market, with the GMP currently at Rs 0, reflecting muted listing expectations among investors. The public offer, which ran from June 24 to June 26, was entirely a fresh issue of 50.70 lakh shares priced at Rs 59 apiece. The IPO received anchor backing worth Rs 8.50 crore on June 23, with 14.4 lakh shares allotted to institutional buyers. The registrar to the issue is Kfin Technologies , with Hem Securities managing the book and Hem Finlease acting as market maker. Incorporated in 2003, the company operates a 30,000 metric tonne per annum sponge iron manufacturing unit in Siltara, Raipur, spread over 13.45 acres. Proceeds from the IPO will largely be used to set up a captive power plant at the company's manufacturing site, with Rs 23 crore earmarked for this capex project. The remaining funds will go towards general corporate purposes. On the financial front, the company posted Rs 83.60 crore in revenue and Rs 9.2 crore in PAT for FY25. The absence of grey market interest may reflect broader market caution or limited institutional buzz. Investors will closely watch how the stock performs on debut amid a packed IPO week and several SME listings competing for attention. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
