Kasturi Metal Composite IPO is a book-built issue with a total size of ₹17.61 crore. The entire issue consists of a fresh issue of 0.28 crore shares, aiming to raise funds for the company’s business needs. The IPO opens for subscription on January 27, 2026, and will close on January 29, 2026.
The basis of allotment is expected to be finalised on January 30, 2026, and the shares are likely to be listed on BSE SME on February 10, 2026. The price band for the issue is set between ₹61 and ₹64 per share, offering investors an entry at different levels.
The minimum application size is 2,000 shares, making the minimum investment for retail investors ₹2,68,800 at the upper band. For HNI investors, the minimum lot size is 3 lots, equivalent to 6,000 shares, amounting to ₹3,84,200.
Hem Securities Limited is acting as the book running lead manager, while Bigshare Services Private Limited has been appointed as the registrar to the issue. Hem Finlease Private Limited is serving as the market maker for this IPO.
Kasturi Metal Composite IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Funds will be used for the capital expenditure towards, mechanical and electrical works, interior work and procurement of plant and machinery for setting up a new manufacturing facility at Amravati, Maharashtra (“Proposed Unit IV”)
- Remaining funds will be used for general corporate purposes.
About Kasturi Metal Composite Limited
Kasturi Metal Composite Limited is engaged in the manufacturing, supply, and export of steel fiber products for industrial applications. Its product portfolio includes Loose Hook-End Steel Fiber, Glued Hook-End Steel Fiber, and Flat Crimped Steel Fiber, available in various sizes and configurations for fiber-reinforced concrete applications.
The company also manufactures Steel Wool Fiber, which is used in the production of friction linings for brake pads and clutches.
In addition, it trades Macro Synthetic PP Fibers under the “Durocrete” brand and operates a subsidiary, Durafloor Concrete Solution LLP, which provides concrete flooring solutions.
The company offers material solutions designed to support the structural performance of concrete and composite materials. Its products are marketed under the “Duraflex” and “Durabond” brands and serve industries including construction, engineering, warehousing, logistics, mining, infrastructure, and automotive. Applications include tunnel shotcrete, precast concrete, industrial and warehouse flooring, roads, pavements, tunnel mining, and automotive friction linings.
Products are also used in hydroelectric plants, road and rail tunnels, underground caverns, bridges, and highways. The company draws on operational experience in addressing customer requirements and maintains a focus on quality and safety standards.
Kasturi Metal Composite Limited operates three manufacturing units in the MIDC industrial area of Amravati, Maharashtra. Each facility is equipped with wire drawing machines, wet and dry wire systems, and specialized equipment for steel fiber and steel wool fiber production.
The company maintains an in-house quality control laboratory for inspection before and after production. Product testing is also conducted through NABL-accredited laboratories based on client requirements to ensure compliance with applicable standards.
The company holds ISO 9001:2015 certification for its Quality Management System and has received ZED (Zero Effect, Zero Defect) Silver and Bronze certifications for its steel fiber and steel wool fiber manufacturing operations.
Industry Outlook
- India’s road infrastructure sector continues to expand, supported by a ₹11 lakh crore (US$ 125 billion) initiative to develop 17,000 km of high-speed expressways by 2033, with about 40% already under construction.
- Government policy support remains strong, with 100% FDI permitted in the road and highways sector and 3,427 NHAI projects integrated into the Bhoomi Rashi land acquisition portal as of June 2025.
- Steel demand in India is rising, with finished steel consumption reaching 150.23 MT in FY25 and per-capita consumption targeted to increase from 100 kg in FY26 to 160 kg by FY31 under the National Steel Policy.
- Green steel demand is projected to grow from negligible levels to 4.49 MT by FY30 and further to 24 MT by FY35, driven by infrastructure, construction, and automotive sectors.
- Renewable energy capacity in India reached 226.9 GW as of June 2025, with solar power accounting for 110.9 GW and wind power 51.3 GW, reflecting continued expansion in sustainable infrastructure.
- Infrastructure investments remain elevated, including ₹26,000 crore allocated to key highway projects and Rs. 46,000 crore planned for 35 multimodal logistics parks to handle approximately 700 million metric tonnes of cargo.
How To Apply for the Kasturi Metal Composite IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Kasturi Metal Composite IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of Kasturi Metal Composite IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Kasturi Metal Composite Limited
Registered office: A30/3/1, MIDC, H. V. Nagar, Amravati, Maharashtra-444605- India.
Phone: 0721-2520293
E-mail: info@steelfiberindia.in
Kasturi Metal Composite IPO Reservation
| Investor Category | Shares Offered |
| Market Maker Shares Offered | 1,38,000 (5.01%) |
| QIB Shares Offered | 13,04,000 (47.38%) |
| − Anchor Investor Shares Offered | 7,82,000 (28.42%) |
| − QIB (Ex. Anchor) Shares Offered | 5,22,000 (18.97%) |
| NII (HNI) Shares Offered | 3,94,000 (14.32%) |
| − bNII > ₹10L | 2,62,000 (9.52%) |
| − sNII < ₹10L | 1,32,000 (4.80%) |
| Retail Shares Offered | 9,16,000 (33.28%) |
| Total Shares Offered | 27,52,000 (100.00%) |
Kasturi Metal Composite IPO Lot Size Details
| Application | Lots | Shares | Amount |
| Individual investors (Retail) (Min) | 2 | 4,000 | ₹2,56,000 |
| Individual investors (Retail) (Max) | 2 | 4,000 | ₹2,56,000 |
| S-HNI (Min) | 3 | 6,000 | ₹3,84,000 |
| S-HNI (Max) | 7 | 14,000 | ₹8,96,000 |
| B-HNI (Min) | 8 | 16,000 | ₹10,24,000 |
Kasturi Metal Composite IPO Promoter Holding
The promoters of the company include Samit Surendra Singhai, Akash Surendra Singhai, Surendra Fatechand Singhai and Lata Surendra Singhai.
| Share Holding Pre-Issue | 92.35% |
| Share Holding Post Issue | 67.90% |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Kasturi Metal Composite IPO
| KPI | Value |
| ROE | 13.01% |
| ROCE | 12.35% |
| Debt/Equity | 0.71 |
| RoNW | 12.03% |
| PAT Margin | 7.71 |
| EBITDA Margin | 9.99 |
| Price to Book Value | 2.42 |
Kasturi Metal Composite IPO Registrar and Lead Managers
Kasturi Metal Composite IPO Lead Managers
- Hem Securities Limited
Registrar for Kasturi Metal Composite IPO
Bigshare Services Private Limited
- Contact Number: +91-22-6263 8200
- Email Address: ipo@bigshareonline.com
Financial Performance of Kasturi Metal Composite Limited
| Particulars | Period Ended 30 Sep 2025 | Year Ended 31 Mar 2025 | Year Ended 31 Mar 2024 |
| Assets (₹ in Crore) | 44.43 | 35.57 | 33.45 |
| Total Income (₹ in Crore) | 32.29 | 57.22 | 50.2 |
| Profit After Tax (₹ in Crore) | 2.47 | 2.07 | 2.35 |
| EBITDA (₹ in Crore) | 4.8 | 5.69 | 5.4 |
| Net Worth (₹ in Crore) | 20.19 | 17.76 | 12.29 |
| Reserves & Surplus (₹ in Crore) | 12.55 | 10.12 | 11.28 |
| Total Borrowings (₹ in Crore) | 14.28 | 13.15 | 11.83 |
Strengths and Opportunities of Kasturi Metal Composite Limited
- Ability to manage end-to-end manufacturing in-house across three specialised facilities, enabling control over production quality, timelines, and costs.
- Specialised unit-wise production setup allows efficient scaling of output to meet changing customer demand.
- Broad steel fiber product range enables the company to address multiple application requirements within concrete reinforcement and friction lining segments.
- Presence in both steel fiber and steel wool fiber segments provides participation in construction, infrastructure, and automotive supply chains.
- In-house quality testing and third-party laboratory validation strengthen reliability and acceptance of products across regulated and export markets.
- Established customer base across domestic and international markets supports recurring demand and market diversification.
- Subsidiary operations in industrial flooring extend the company’s offerings from material supply to application-based solutions.
Risks and Threats of Kasturi Metal Composite Limited
- The business remains dependent on its manufacturing units, and any disruption from machinery breakdowns, power supply failures, or temporary shutdowns could adversely affect operations, financial condition, and cash flows.
- Certain issues and discrepancies in corporate records and regulatory compliance may expose the company to potential legal, financial, or reputational risks.
- International operations are subject to country-specific risks and general cross-border business challenges, which may affect overseas revenues and operations.
- Exposure to foreign exchange rate fluctuations may result in losses where currency impacts cannot be fully passed on to customers.
- The subsidiary’s operations may face risks related to supplier shortages, long lead times, cost escalations, or quality control issues, which could affect project execution.
- Entry into new overseas markets involves operational, regulatory, and geopolitical challenges that may impact expansion plans and profitability.
- Dependence on transportation services for raw materials and product delivery exposes the company to logistics disruptions, which could lead to delivery delays and possible customer rejection of products.
