SME IPO: Classic Electrodes lists at ₹100, raises ₹41.5cr
Classic Electrodes (India) kicked off trading on the NSE SME platform with its shares listing at ₹100—about 15% higher than its IPO price of ₹87.
The company raised ₹41.5 crore through its IPO, which was a huge hit and oversubscribed nearly 180 times, showing big interest from both retail and non-institutional investors.
The company manufactures welding consumables
Based in Kolkata since 1997, Classic Electrodes manufactures welding consumables like electrodes and MIG wires for customers in India and abroad.
With two factories (in West Bengal and Haryana), they supply products to construction, manufacturing, and heavy engineering sectors.
Classic Electrodes will use the funds for working capital needs
Most of the funds will be used for working capital, paying down debt, and upgrading equipment.
For the 11 months ending February 2025, Classic Electrodes posted revenues of ₹187.9 crore with a profit after tax of ₹9.57 crore—steady numbers that reflect their consistent performance over recent years.