Karbonsteel Engineering to raise ₹59.3 crore via IPO: Details
Karbonsteel Engineering is launching its IPO to raise ₹59.3 crore, with shares priced between ₹151 and ₹159 each.
The offer opens for public bidding from September 8-10, inferred to be in 2025 based on context (anchor investors can bid from September 4).
In total, 37,29,600 shares are up for grabs—30,39,600 new shares plus 6.9 lakh being sold by the promoters.
What does the company do?
The company builds heavy-duty steel structures—think pre-engineered buildings and bridge parts—out of its two plants in Gujarat and Maharashtra.
They've been on a growth streak: profits jumped 50% to ₹14.2 crore and revenue climbed 25% to ₹273 crore in FY25 compared to last year.
Use of proceeds from the issue
Karbonsteel plans to invest ₹12.29 crore in expanding its Umbergaon plant, set aside ₹25.25 crore for working capital, use ₹3.07 crore to pay off debt, and cover other general expenses with the rest.
Seren Capital is managing the IPO process.