Karbonsteel Engineering IPO opens: Check live subscription details, price band, lot size and key dates

Karbonsteel Engineering IPO: The initial public offering of engineering solutions provider Karbonsteel Engineering Ltd opened for bidding on Tuesday, September 9. The issue will conclude on September 11. The price band has been set at ₹151 to ₹159 per share.

The ₹59.30 crore initial share sale consists of a fresh issuance of 30.39 lakh shares totalling ₹48.33 crore and an offer for sale (OFS) of 6.9 lakh shares aggregating to ₹10.97 crore.

The money generated will be utilised for funding capital expenditure towards expansion of the existing Umbergaon plant through the construction of new sheds, debt repayment, meeting working capital needs, and general corporate purposes.

Karbonsteel Engineering IPO day 1: Subscription details

Karbonsteel Engineering IPO lot size

A lot consists of 800 shares. The least investment for an individual investor is two lots or 1,600 shares.

Karbonsteel Engineering IPO timeline: Allotment and listing dates

Shrenik Kirit Shah, Chairman and Managing Director of Karbonsteel Engineering, said, "The IPO proceeds will improve the efficiency, strengthen our financial position, and enable us to take on larger projects, thereby accelerating growth and creating long-term value for the company."

Mumbai-based Karbonsteel Engineering, incorporated in 2011, offers structural engineering and fabrication solutions for steel plants, oil & gas plants, railway bridges, and other industries.

Seren Capital is the lone bookrunning lead manager of the issue, while Maashitla Securities is the registrar.

Karbonsteel Engineering IPO GMP