Nilachal Carbo Metalicks, Krupalu Metals IPOs open for subscription; check price band, lot size, and objectives

The BSE SME initial public offerings of Krupalu Metals and Nilachal Carbo Metalicks opened for public subscription on Monday, September 8. The two IPOs will close on Thursday, September 11.

The basis of allotments of the initial share sales will be finalised on September 12, while listings will occur on September 16.

Krupalu Metals IPO

Krupalu Metals IPO is purely a fresh issuance of 18,72,000 shares totalling ₹13.48 crore without an offer for sale (OFS) component. The issue is fixed priced at ₹72 per share.

The objectives of the issue include:

• Funding capital expenditure towards the purchase of additional plant and machinery
• Meet issue expenses
• Meet working capital requirements
• General corporate purposes

The minimum investment for a retail investor is two lots or 3,200 shares.

Finshore Management Services is the issue's sole book-running lead manager, while Cameo Corporate Services is the registrar.

Established in 2012, Krupalu Metals makes an array of brass and copper products. The firm specialises in manufacturing brass and copper sheets, strips, and components such as inserts, pipe fittings, bus bars, terminals, and custom parts. It also derives a part of its revenue from the trading of raw materials that are needed in the production of metal sheets and components.

Nilachal Carbo Metalicks IPO

The initial share sale of Nilachal Carbo Metalicks is fixed-priced at ₹85 per share. The IPO is a mix of a fresh issuance of shares valued at ₹22.10 crore and an offer for sale (OFS) of ₹34 crore.

The money generated will be utilised for funding capital expenditure needs for installing one coke oven plant for expansion of capacity, modernisation of the existing plant and general corporate purposes.

The least investment for individual investors is two lots or 3,200 shares.

Sun Capital Advisory Services Pvt Ltd is the only book-running lead manager of the issue, while KFin Technologies is the registrar.

Nilachal Carbo Metalicks produces high-quality, low-sulphur metallurgical coke. Their product range includes nut coke, foundry coke, blast furnace coke, and low-phosphorus coke fines, serving various industrial applications.