Shri Hare-Krishna Sponge Iron debuts ₹29.91 crore IPO
Shri Hare-Krishna Sponge Iron is opening its IPO on NSE Emerge from June 24-26, looking to raise ₹29.91 crore by offering 50.7 lakh new shares at ₹56-₹59 each.
You'll need to buy at least one lot of 2,000 shares if you want in.
Making sponge iron since 2003
Based in Siltara-Raipur since 2003, Shri Hare-Krishna makes sponge iron—a key material for steel makers using electric arc and induction furnaces.
Their plant covers over 13 acres and can produce up to 30,000 metric tons a year.
The company holds several ISO certifications for quality and safety.
Strong margins for the sector
Shares are split between institutional buyers, retail investors, and others; listing is expected soon.
Last year's revenue was ₹80.47 crore with a net profit of ₹9.2 crore—pretty solid margins for the sector.
Money raised will help build a captive power plant and support general business growth under Chairman Manoj Parasrampuria's leadership.