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New Delhi: Classic Electrodes (India) Ltd. is coming up with an IPO (initial public offering) worth Rs 41.50 crore. The public offering consists entirely of a fresh issue of about 47 lakh equity shares that are set to open for public subscription on August 22 and close on August 26, said the company in its statement.
GYR Capital Advisors is being roped in as the book-running lead manager, while MUFG Intime India is the registrar for the IPO, said the company.
The tentative stock listing of the shares is expected to be on Monday, September 1, on the NSE's Emerge Platform.
The MIG wire manufacturing company has set its price band between Rs 82 and Rs 87 per equity share. "The price band has been fixed at Rs 82 to Rs 87 per equity share," the company said in a filed statement.
As per investorgain.com, the Grey Market Premium (GMP) of the SME IPO stands at Rs 22, with the estimated listing price at Rs 109. The estimated listing percentage stands at around 25 percent.
The company plans to use the raised capital proceeds for funding the capital expenditure related to the purchase of plant and machinery, repayment of certain outstanding borrowings, and funding general working capital requirements.
The company reported an operational revenue of Rs 187 crore for the 11 months till Feb 28, 2025. The PAT (profit after tax) of the company stands at Rs 9.51 crore in the 11-month period to February 2025, and it reported a revenue of Rs 194.40 crore in FY24 and a PAT of Rs 12.29 crore for the same period.
The company operates two manufacturing units in West Bengal and Haryana. The combined capacity of the company stands at 10608 metric tons (MT) of electrodes and 8600 MT of MIG wires on a yearly basis.
(Disclaimer: This article is only meant to provide information. TV9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, gold and crypto assets.)
