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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Super Iron Foundry IPO subscribed 45% on Day 2: Check GMP, price band and other details
The retail portion of the issue was subscribed by 84%, while the issue was subscribed by 6% in the non-institutional investors category on the second day of bidding. Meanwhile, the qualified institutional buyers had not made any bids yet.
Super Iron Foundry GMP on Day 2
Ahead of listing, the company's shares were trading with a GMP of Rs 15 in the unlisted market on Wednesday, indicating a premium of 14% over the upper end of the IPO price band of Rs 108.
Proceeds from IPO
Super Iron Foundry's IPO aims to utilize the net proceeds for funding working capital requirements, repaying or pre-paying certain borrowings, and covering general corporate purposes.
PDP Shipping IPO price band
The company has priced the IPO at Rs 108 per share, where investors can bid for 1,200 shares in one lot.
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About Super Iron Foundry
Incorporated in July 1988, Super Iron Foundry Limited specializes in manufacturing municipal castings, ductile iron pipe fittings, automotive castings, agricultural castings, railway castings, and cast-iron counterweights. Its products play a vital role in major construction projects, providing access covers for stormwater, sewerage, telecommunications, and other utility networks.
Super Iron Foundry financials
For the 9-month ended FY25, the revenue from operations stood at Rs 45 crore. For FY24, FY23 and FY22, the topline stood at Rs 68 crore, 55.32 crore and Rs 78.56 crore, respectively.
The 9-month Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) stood at Rs 23.74
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