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India Gazette
a day ago
- Business
- India Gazette
Shri Hare-Krishna Sponge Iron Limited launches 29.91 crore IPO
HT Syndication New Delhi [India], June 20: Shri Hare-Krishna Sponge Iron Limited, engaged in the manufacturing and sale of sponge iron, has announced the launch of its Initial Public Offering (IPO) on the NSE Emerge platform. The IPO will open on June 24, 2025, and close on June 26, 2025, with a price band of 56 to 59 per equity share of face value 10 each. The issue comprises a fresh issue of 50,70,000 equity shares, aggregating to 29.91 crore at the upper price band. The issue is being managed by Hem Securities Limited. KFin Technologies Limited is acting as the registrar to the issue. The minimum application lot is 2,000 equity shares. Allocation is as follows: - 24,02,000 shares for Qualified Institutional Buyers (QIB) - 7,24,000 shares for Non-Institutional Investors (NII) - 16,86,000 shares for Retail Individual Investors (RII) - 2,58,000 shares for Market Makers Utilization of Proceeds: - Funding of Capital Expenditure Requirements of our Company towards set up of Captive Power Plant at Siltara-Raipur: 2,300 Lakhs - General Corporate Purpose Company Overview Shri Hare-Krishna Sponge Iron Limited, incorporated in 2003 and based in Raipur, Chhattisgarh, operates in the sponge iron manufacturing segment. The company owns a manufacturing unit spread across 13.45 acres with an annual installed capacity of 30,000 metric tonnes. Sponge iron produced by the company is a key raw material for electric arc and induction furnace-based steel production. The company is ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certified. Financial Highlights (FY25): - Revenue: 80.47 crore- EBITDA: 10.78 crore (13.40%)- PAT: 9.20 crore (11.43%)- ROCE: ~15% Leadership - Mr. Manoj Parasrampuria, Chairman and Managing Director - Mr. Abhishek Parasrampuria, CFO Investor and Media Contact: Corporate Communications - Shri Hare-Krishna Sponge Iron LimitedFlat No. 2-D, 2nd Floor, Tower No. 1, Alcove Gloria, 403/1, Dakshindari Road, VIP Road, Sreebhumi, North 24 Parganas, Kolkata - 700048 - Email: cs@ - Website: Forward-Looking Statement: Certain statements in this release may be forward-looking in nature, involving risks and uncertainties that may cause actual outcomes to differ materially. Shri Hare-Krishna Sponge Iron Limited does not undertake to update these statements publicly. (ADVERTORIAL DISCLAIMER: The above press release has been provided by HT Syndication. ANI will not be responsible in any way for the content of the same)
Mint
a day ago
- Business
- Mint
Oswal Pumps Share Price Live: Stock makes a lukewarm debut, opens with 3.26% premium at ₹634 on NSE
Oswal Pumps Share Price Live: Oswal Pumps share price made a tepid debut on the bourses today. On NSE, Oswal Pumps share price opened at ₹ 634 per share, 3.26% higher than the issue price of ₹ 614. On BSE, Oswal Pumps share price today opened at ₹ 632 apiece, up 2.93% than the issue price. The initial public offering for shares began on June 13 and ended on June 17. Oswal Pumps IPO allotment was finalised on Wednesday, June 18. A notice on the BSE indicated the equity shares of Oswal Pumps Limited are available for trading on the Exchange as part of the 'B' Group of Securities. Oswal Pumps IPO price band was fixed in the range of ₹ 584 to ₹ 614 per equity share of the face value of Re 1. Oswal Pumps IPO lot size was 24 equity shares and in multiples of 24 equity shares thereafter. Oswal Pumps IPO subscription status was 34.42 times by the end of the bidding period. The allocation for Qualified Institutional Buyers (QIBs) saw a subscription rate of 88.08 times, while the non-institutional investors' category was subscribed 36.70 times. Retail Individual Investors (RIIs) experienced a subscription rate of 3.60 times. Half of the total issue size has been allocated for qualified institutional buyers, 35% for retail investors, and the remaining 15% for non-institutional buyers. Oswal Pumps started its journey in 2003, initially producing low-speed monoblock pumps, and has since broadened its scope to include the production of grid-connected submersible pumps and electric motors. The company produces both solar-powered and grid-connected submersible and monoblock pumps, as well as electric motors, which include induction and submersible varieties, in addition to solar modules, all marketed under the 'Oswal' brand. Mahesh M. Ojha, AVP of Research and Business Development at Hensex Securities Pvt Ltd, recommends that investors adopt a medium to long-term holding strategy. Short-term investors who have entered solely for listing gains might think about partially realizing profits if the stock opens at or above ₹ 675; however, maintaining some exposure could be wise due to potential re-rating as clarity improves after the listing. Long-term investors may want to continue holding, especially considering the company's size, market share, and its alignment with India's renewable energy and agricultural infrastructure objectives. The solar pump sector presents consistent growth opportunities, and Oswal is strategically well-placed. Oswal Pumps secured ₹ 416.2 crore from anchor investors just one day prior to the commencement of its initial public offering for public subscription. Among the anchor investors are ICICI Prudential Mutual Fund, Kotak Mahindra Mutual Fund, Aditya Birla Sun Life Mutual Fund, Quant Mutual Fund, Societe Generale, Edelweiss Life Insurance, BNP Paribas, the Paris-based asset management firm Amundi, and the financial services company Capital Group, as stated in a circular published on the BSE's website. According to the circular, Oswal Pumps allocated 67,78,533 equity shares to these anchor investors at a price of ₹ 614 per equity share, which corresponds to the upper limit of the pricing range. The lower limit of the IPO has been set at ₹ 584 per share. Oswal Pumps share price made a tepid debut on the bourses today. On NSE, Oswal Pumps share price opened at ₹ 634 per share, 3.26% higher than the issue price of ₹ 614. On BSE, Oswal Pumps share price today opened at ₹ 632 apiece, up 2.93% than the issue price. According to Mahesh AVP Research and Business development, Hensex Securities Pvt Ltd, the Oswal Pumps IPO has garnered strong investor interest across segments This is a clear indicator of positive market sentiment, bolstered by -a solid anchor book and credible domestic and global institutional participation. The listing is expected to be between 8-12% premium over the upper band of ₹ 614. Prashanth Tapse suggests that due to robust subscription demand and current market trends, Tapse expects Oswal Pumps to list with a gain of around 10–15%. The IPO was heavily oversubscribed, indicating strong confidence in the company's fundamentals and valuation. 'We consider Oswal Pumps to be an attractive long-term investment option, particularly in line with the government's ongoing focus on rural electrification and the advancement of solar-powered irrigation systems,' said Tapse. Oswal Pumps IPO GMP today is +41. This indicates Oswal Pumps share price was trading at a premium of ₹ 41 in the grey market, according to Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Oswal Pumps share price is indicated at ₹ 655 apiece, which is 6.68% higher than the IPO price of ₹ 614. 'Grey market premium' indicates investors' readiness to pay more than the issue price. The initial public offering (IPO) consists of a new issue of shares valued at ₹ 890 crore, along with an offer-for-sale (OFS) of 81 lakh shares worth ₹ 497.34 crore, at the highest end of the price range, by promoter Vivek Gupta. This brings the total size of the issue to ₹ 1,387.34 crore. Funds obtained from the new share issue will be allocated to several capital expenditures, investments in the wholly owned subsidiary Oswal Solar in the form of either debt or equity, the establishment of new manufacturing units in Karnal, Haryana, debt repayment, and other general corporate needs.
Business Standard
3 days ago
- Business
- Business Standard
Oswal Pumps IPO ends with 34.42x subscription
The offer received bids for 55.80 crore shares as against 1.62 crore shares on offer. The initial public offer of Oswal Pumps received bids for 55,80,42,696 shares as against 1,62,12,980 shares on offer. The issue was subscribed 34.42 times. The Qualified Institutional Buyers (QIBs) category was subscribed 88.08 times. The Non-Institutional Investors (NIIs) category was subscribed 36.70 times. The Retail Individual Investors (RIIs) category was subscribed 3.60 times. The issue opened for bidding on 13 June 2025 and it closed on 17 June 2025. The price band of the IPO is fixed between Rs 584 and 614 per share. The issue comprised both a fresh issue of equity shares upto Rs 890 crore and an offer for sale up to 81,00,000 equity shares by Vivek Gupta, one of the promoters of the company. The company proposes to utilize the net proceeds from the issue towards capital expenditure of Rs 89.86 crore; Rs 272.76 crore for investment in its wholly-owned subsidiary, Oswal Solar, in the form of equity, for funding the setting up of new manufacturing units at Karnal, Haryana; Rs 280 crore for pre-payment/ re-payment, in part or full, of certain outstanding borrowings availed by the company; Rs 31 crore for investment in its wholly-owned Subsidiary, Oswal Solar, in the form of equity, for repayment/prepayment, in part or full, of certain outstanding borrowings availed by Oswal Solar; and general corporate purposes. Oswal Pumps, established by Padam Sain Gupta (father of Vivek Gupta, one of its promoters and chairman and managing director), commenced its operations in 2003 with the manufacturing of low-speed monoblock pumps. The company manufactures solar-powered and grid-connected submersible and monoblock pumps, electric motors comprising induction and submersible motors, and solar modules, which it sells under the Oswal brand. It is one of the few fully integrated turnkey solar pumping system providers in India with the capability to manufacture solar-powered agricultural pumps, solar modules and pump controllers and provide installation services for such systems. Sales of majority of its products are geographically concentrated, with the four states of Haryana, Maharashtra, UttarPradesh and Rajasthan accounting for 90.47% and 90.78% of its 9mFY25 and FY24 revenue Ahead of the IPO, Oswal Pumps on Thursday, 12 June 2025, raised Rs 416.20 crore from anchor investors. The board allotted 67,78,533 shares at Rs 614 each to 25 anchor investors. The firm reported a consolidated net profit of Rs 215.80 crore and a total income of Rs 1,065.67 crore for the nine months ended on 31 December 2024.
Time of India
09-06-2025
- Business
- Time of India
Monolithisch India Limited launches Rs 82.02 crore IPO
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Headquartered in Ranchi, Monolithisch India Limited, the manufacturer of specialized ramming mass has announced the launch of its Initial Public Offering ( IPO ) on the NSE Emerge IPO opens on June 12, 2025, and closes on June 16, 2025, with a price band of Rs 135 to Rs 143 per equity share. Envisages to set up new manufacturing plant of ramming mass used in the Induction furnaces of iron & steel manufacturer of silica based ramming mass, will issue 57,36,000 equity shares aiming to raise Rs 82.02 crores. The face value of equity shares is Rs 10 each. The issue is being managed by Hem Securities with KFin Technologies Limited as registrar to the minimum application lot is 1,000 shares. The company has put 27,23,000 shares on block for Qualified Institutional Buyers (QIB), 8,18,000 for Non-Institutional Investors (NII), 19,07,000 for Retail Individual Investors (RII) and remaining 2,88,000 for Market Markers (MM).The capital raised will be deployed towards:* Funding capital expenditure of Rs 16.58 crore towards setting up a manufacturing by purchasing land, building of factory shed, civil work and installation of plant and machinery therein. This expansion will raise the total installed capacity to approximately 250000 MTPA.* Investing Rs 27.90 crore in subsidiary Metalurgica India Pvt. Ltd. for land purchase, building of shed, civil work and installation of plant machinery.* Meet working capital requirement to the tune of 20 Cr.* Funding general corporate initiativesCompany at a GlanceMonolithisch India Limited, founded in 2018, is a manufacturer of specialized ramming mass used in induction furnaces up to 45MT by iron & steel producers. The company operates a 132,000 MTPA manufacturing plant in Purulia, West Bengal, and serves iron & steel producers located in the eastern part of India, with most of the customers and raw material suppliers located in nearby states to the company's manufacturing company produces five grades of ramming mass made out of alpha-quartzite and stone boulder & has developed different grades with different specifications and additives to serve furnace of different sizes and customer base has seen almost 53% rise from 41 customers in FY23 to 63 customers in FY25. It strives to expand its position in additional geographical record of healthy financial performance* Revenue CAGR (FY23-FY25): 52.46%* FY25 Revenue: Rs9,734.43 lakhs* EBITDA-Rs2106.24 lakhs (21.64%)* Net Profit: Rs1,448.80 lakhs (14.88%)* ROE- 53.94%* ROCE: 46.22%* Net Worth: Rs3,520.48 lakhs* Debt-to-Equity < 1* Customer Repeat Rate (FY24): 61.44%LeadershipMonolithisch is led by Mr. Prabhat Tekriwal, Chairman and CFO, who brings over 36 years of experience in the refractory industry; Mr. Harsh Tekriwal, Managing Director and a Cardiff University alumnus, brings an experience of 7 years; and Mrs. Sharmila Tekriwal, Executive Director, with an experience of 23 years in the refractory material of Quartz based ramming massThe quality of ramming mass has a direct impact on the heating performance of the furnaces leading to the smooth working of furnaces, optimum output and better metallurgical control. It comes in three variants - acidic (made from silica), basic (made from magnesia) and neutral (made from alumina).Silica ramming mass (also known as acidic ramming mass) is the most commonly used owing to its inherent advantages and application in the induction furnace of the steel advantage of quartz ramming mass lies in its lowest thermal conductivity resulting in low energy loss, low expansion coefficient leading to the stable lining, and good resistance to temperature. The cost is 10-20% lower as compared to alumina or magnesia based ramming OutlookIndia is the second-largest producer of crude steel as well as the second-largest consumer of finished steel in the world. The sector contributes to about 2% of the total GDP of the steel sector is further bifurcated into the primary and secondary steel sector based on their production pathways. Overall the secondary sector, accounts for 40% steel production in value chain of the secondary steel sector involves the production of sponge iron through the direct reduction route (DRI), which is followed by the production of crude steel (semi-finished steel) through Electric Arc Furnaces (EAF) or Induction Furnaces (IF).The National Steel Policy (NSP) 2017 envisages 300 million tonnes steelmaking capacity and 160 kgs per capital steel consumption by and Media Contact: Corporate Communications - Monolithisch India LimitedShri Gopal Complex, Kanke Road, Ranchi - 834008* Email: info@ Statement: Certain statements in this release may be forward-looking in nature, involving risks and uncertainties that may cause actual outcomes to differ materially. Monolithisch India Limited does not undertake to update these statements publicly.(ADVERTORIAL DISCLAIMER: The above press release has been provided by HT Syndication. will not be responsible in any way for the content of the same)
Economic Times
30-05-2025
- Business
- Economic Times
Scoda Tubes IPO subscribed 53 times on final day of bidding
New Delhi, The initial public offer of stainless-steel tubes and pipes manufacturer Scoda Tubes received 53.78 times subscription on the closing day of bidding on Friday. ADVERTISEMENT The initial share sale got bids for 63,70,52,700 shares against 1,18,46,169 shares on offer, as per NSE data. The category for non-institutional investors fetched 113.03 times subscription while the category for Qualified Institutional Buyers (QIBs) got subscribed 69.51 times. The quota for Retail Individual Investors (RIIs) received 19.39 times subscription. Scoda Tubes on Tuesday raised Rs 66 crore from anchor investors. The Gujarat-based company's IPO is entirely a fresh issue of equity shares, aggregating up to Rs 220 crore with no offer for sale (OFS) component. The issue has a price band of Rs 130-140 per share. ADVERTISEMENT Proceeds of the issue will be used to expand the production capacity of seamless and welded tubes and pipes, working capital requirements and general corporate purposes. The company is a stainless-steel tubes and pipes manufacturer, catering to a diverse range of customers like EPC, and industrial companies engaged in oil and gas, chemicals, fertilisers, power, etc. Monarch Networth Capital is the book-running lead manager to the IPO. (You can now subscribe to our ETMarkets WhatsApp channel)
