Carver Roboweld Limited IPO

Carver Roboweld Initial Public Offering is a book-building issue of ₹28.29 crore. The issue is entirely a fresh issue of 35.36 lakh shares worth ₹28.29 crore.

Carver Roboweld Initial Public Offering has a price band of ₹76 to ₹80 per share. The lot size for an application is 1,600 shares. The minimum investment required for an individual retail investor is ₹2,56,000 for 3,200 shares, based on the upper end of the price band.

Smart Horizon Capital Advisors Private Limited is the book-running lead manager, and Bigshare Services Private Limited is the registrar of the issue. Shreni Shares Limited is the market maker for the company.

About Carver Roboweld Limited

Carver Roboweld Limited was incorporated on August 4, 2009, and is an India-based manufacturer of welding consumables and provider of specialised engineering solutions for the forging industry. The company caters to diverse industrial applications by combining consumable manufacturing with value-added engineering services, welding automation, and equipment maintenance solutions.

The company manufactures a range of welding consumables, including metal-cored wires, welding rods, and gauging electrodes. It also supplies welding spare parts and accessories used in welding operations and equipment maintenance. Its engineering service portfolio includes forging die regeneration, robotic welding solutions, welding robot rental services, and customised engineering solutions designed to improve industrial productivity, extend equipment life, and reduce customers’ capital expenditure.

Carver Roboweld Limited operates one manufacturing facility at Bamanbore, Rajkot, Gujarat, and three service units located in Pune, Maharashtra; Ludhiana, Punjab; and Hosur, Tamil Nadu. These facilities support its manufacturing, robotic welding, automation, repair, maintenance, and customer support activities. As of July 11, 2026, the company had an aggregate installed production capacity of 650 tonnes per year across its metal-cored wire and welding rod operations. Its installed capacity increased at a compound annual growth rate of approximately 30% between Fiscal 2025 and Fiscal 2026.

The company’s wholly owned subsidiary, Carver Engineering Private Limited, further strengthens its service capabilities through on-site and off-site engineering services, including the reconditioning and repair of hammers and related components, heavy structural fabrication, general and heavy-duty machining, and turnkey engineering projects. The subsidiary also undertakes assignments at offshore and remote locations, providing customised solutions to customers across different regions.

The company holds ISO 9001:2015 certification for the sale of welding consumables, including welding electrodes and metal-cored wires, as well as for the manufacturing and supply of welding electrodes. It is also a sustaining corporate member of the American Welding Society, reflecting its engagement with industry standards and technical developments.

Carver Roboweld Limited serves industrial customers across multiple Indian states, including Karnataka, Maharashtra, Tamil Nadu, Punjab, Gujarat, Haryana, and Uttar Pradesh. Its target industries include automotive, engineering, heavy equipment, construction equipment, chemicals, steel, and general manufacturing. As of June 30, 2026, the company had served 76 customers and employed 68 permanent employees.

For Fiscal 2026, Carver Roboweld Limited reported consolidated revenue from operations of ₹32.70 crore and consolidated profit after tax of ₹5.34 crore. Its business model combines product sales with recurring demand from repeat customers, periodic forging die regeneration requirements, and long-term welding robot rental arrangements.

Industry Outlook

• The Indian welding consumables market was valued at USD 1,322.88 million in 2025 and is projected to reach USD 2,220.96 million by 2034, registering a compound annual growth rate of 5.76% between 2026 and 2034.
• Government-backed infrastructure development is expected to support demand for welding consumables. Initiatives such as PM Gati Shakti, Bharatmala Pariyojana, and the National Infrastructure Pipeline are driving the construction of highways, bridges, railways, ports, and airports, which require extensive metal fabrication and welding.
• Expansion of the automotive and manufacturing sectors is creating demand for specialised welding materials. Production-Linked Incentive schemes and investments in automotive, electronics, white goods, and specialty steel manufacturing are supporting the use of precision welding consumables.
• Growth in renewable energy infrastructure is expected to create additional demand for welding electrodes, wires, and filler materials. Solar panel mounting structures, wind turbine towers, substations, and power transmission infrastructure require extensive welding and fabrication work.
• Increasing adoption of welding automation and robotic welding is changing industry requirements. Manufacturers are adopting automated systems to improve production consistency, increase throughput, and reduce dependence on manual labour, creating demand for consumables suitable for automated welding applications.
• Construction remains a major end-use segment for welding consumables. It accounted for approximately 32.5% of the Indian market in 2025, supported by infrastructure projects involving highways, bridges, metro rail networks, airports, ports, and commercial buildings.
• Arc welding is the leading welding technique in the Indian market, accounting for approximately 48.5% of the market in 2025. Its versatility, cost-effectiveness, and suitability for construction, shipbuilding, machinery manufacturing, and industrial fabrication support its widespread use.
• Demand for low-fume and environmentally responsible welding consumables is increasing as industries place greater emphasis on occupational safety, air quality, and environmental compliance. Manufacturers are focusing on products that reduce fumes and spatter while supporting safer welding operations.

Carver Roboweld IPO Objectives

The company proposes to utilise the net proceeds from the Issue towards the following objectives:

• Funding the capital expenditure requirements of the Company towards the purchase of Welding Robots.
• Repayment and/or prepayment, in full or in part, of certain outstanding borrowings availed by the Company from banks and financial institutions.
• Towards general corporate purposes.

Financial Performance of Carver Roboweld Limited

Carver Roboweld Limited Peer Details Comparison