Classic Electrodes IPO fully subscribed on day 1: A look at its price band, lot size, objectives and key details

Classic Electrodes IPO: Welding electrodes and MIG wires manufacturer Classic Electrodes (India) Ltd's initial public offering has been fully subscribed on the first day of bidding on Friday, August 22. It will conclude on August 26.

It secured bids for 39,32,800 shares compared to 34,27,200 shares on offer, translating to 1.15 times subscription, according to NSE data until 1:35 pm.

The company has set a price band of ₹82 to ₹87 per share for its ₹41.51 crore initial share sale, which is solely a fresh issuance of 0.48 crore shares.

The company has proposed to utilise the IPO proceeds to fund capital expenditure towards the purchase of plant and machinery, repayment of certain outstanding borrowings, and fund working capital requirements.

Classic Electrodes IPO: Lot size

A lot consists of 1,600 shares. The minimum investment for an individual investor is two lots or 3,200 shares. For HNIs, the least investment is 4,800 shares.

Post-issue, the shares will be listed on the National Stock Exchange's Emerge platform, with a tentative listing date of Monday, September 1.

GYR Capital Advisors is the sole book-running lead manager, while MUFG Intime India serves as the registrar.

Classic Electrodes (India) Ltd makes welding consumables, including electrodes and MIG wires. It has two manufacturing units in West Bengal and Haryana, with a total installed capacity of 10,608 metric tonnes (MT) of electrodes and 8,600 MT of MIG wires annually.

It reported a revenue from operations of ₹187.60 crore for 11-month period ended in February 2025.

Profit after tax (PAT) stood at ₹9.51 crore in 11 months to February 28, 2025. It reported a revenue of ₹194.40 crore in FY24 and a PAT of ₹12.29 crore.

Classic Electrodes IPO latest GMP