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  1. Super Iron Foundry IPO Day 2: Issue subscribed 43% so far; check lot size and allotment date

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Super Iron Foundry IPO Day 2: Issue subscribed 43% so far; check lot size and allotment date

Upstox

2 min read | Updated on March 12, 2025, 15:45 IST

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SUMMARY

Super Iron Foundry IPO: The ₹68.05 crore initial share sale, which is a fresh issue of 63.01 lakh shares, will conclude on Thursday, March 13. Retail investors can bid for at least one lot, consisting of 1,200 shares, needing an investment of ₹1,29,600.

Super Iron Foundry IPO allotment status is expected to be finalised on March 17. | Image: superironfoundry.com

Super Iron Foundry IPO allotment status is expected to be finalised on March 17. | Image: superironfoundry.com

Super Iron Foundry IPO, a fixed price issue at ₹108 per share, has been subscribed 43% so far on Wednesday, March 12, the second day of bidding.

The part reserved for retail investors has been booked 82%, while the non-institutional investors (NIIs) quota has been subscribed to 5% as of 3:40 pm, according to Chittorgarh.

The ₹68.05 crore initial share sale, which is a fresh issue of 63.01 lakh shares, will conclude on Thursday, March 13.

The money generated will be used to fund the working capital needs of the company, repay certain borrowings and corporate general purposes.

Retail investors can bid for at least one lot, consisting of 1,200 shares, needing an investment of ₹1,29,600. The minimum investment for high net-worth individuals is two lots valued at ₹2,59,200.

Super Iron Foundry IPO: Allotment and listing date

Super Iron Foundry IPO allotment status is expected to be finalised on March 17. For unsuccessful investors, refunds will be initiated on March 18. Shares will be credited to the Demat account of successful investors on the same day. The listing on the BSE SME platform will take place on March 19.

Horizon Management Private Limited is the IPO's sole book-running lead manager, while MUFG Intime India Private Ltd is the registrar. Giriraj Stock Broking Pvt Ltd is the market maker for the issue.

About the company

Super Iron Foundry, incorporated in 1988, manufactures ductile iron pipe fittings, municipal castings, agricultural castings (rollers and crosskills), railway castings, automotive castings, and cast-iron counterweights.

In the financial year 2023-24, the company reported a 207.81% jump in its net profit to ₹3.94 crore, compared to ₹1.28 crore in the same period previous fiscal.

Revenue from operations increased 24.27% to ₹156.87 crore in the fiscal 2024 as against ₹126.23 crore in FY23.

Promoters Abhishek Saklecha, Neha Saklecha, Akhilesh Saklecha and Priyanka Saklecha hold a 96.53% stake in the company, which will be reduced to 70.53% post-listing.

To learn more about IPOs, their listing, schedules, and upcoming IPOs, visit our page.
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