KVS Castings IPO is a book-built issue worth ₹27.83 crore. The IPO consists entirely of a fresh issue of 49.70 lakh equity shares. The IPO opens for subscription on September 26, 2025, and closes on September 30, 2025. The allotment is expected to be finalised on October 1, 2025, with tentative listing on the BSE SME scheduled for October 6, 2025.
The IPO is priced in a band of ₹53 – ₹56 per share. Retail investors must apply for a minimum of 2 lots comprising 4,000 shares, requiring an investment of ₹2,24,000 at the cutoff price. HNI investors must apply for a minimum of 3 lots (6,000 shares), amounting to ₹3,36,000.
Narnolia Financial Services Ltd. is the book-running lead manager to the issue, and Skyline Financial Services Pvt. Ltd. is the registrar. Prabhat Financial Services Ltd. is the designated market maker.
Industry Outlook
- The global auto parts market was valued at USD 494.07 billion in 2023 and is projected to reach USD 700 billion by 2035, growing at a CAGR of 2.94% (2025–2035).
- Growth is largely driven by the rising demand for electric vehicles (EVs) and advancements in automotive manufacturing technologies.
- Sustainability and stricter emission norms are encouraging a shift toward EV components, reflecting changing consumer preferences for greener transportation.
- Investments in cutting-edge automotive technology and the growth of e-commerce are expanding access to advanced auto parts for consumers.
- Lightweight, high-performance materials and vehicle customisation trends are creating opportunities in aftermarket segments.
- Increasing middle-class populations in emerging markets are driving demand for affordable and reliable auto components.
- The adoption of digital technologies like IoT, smart manufacturing, and predictive analytics is enhancing productivity, quality, and supply chain efficiency.
- Sustainability initiatives, including recycling and eco-friendly materials, are shaping industry practices.
- The EV revolution is a major growth driver, with global EV sales surpassing 10 million units in 2022 (year-on-year growth >60%).
- Government incentives, environmental awareness, and advances in battery technology are boosting EV adoption.
KVS Castings IPO Objectives
The company proposes to utilise the net proceeds from the IPO for the following objectives:
- The primary objective of the IPO is to expand manufacturing capacity and modernise operations.
- Total investment of ₹2,776.34 Lakhs for the purchase of new plant and machinery.
- ₹ 2,150.00 Lakhs from IPO proceeds; ₹ 626.34 Lakhs from internal accruals (including ₹ 551.11 Lakhs already paid as advance).
- To install advanced machinery for producing Ductile Iron (SG), Cast Iron (CI), and Steel castings for automobile and non-automobile sectors such as Railways, Defence, and Tractors.
- From 600 metric tons per month to an additional 1,000 metric tons per month, enhancing overall production.
- Investment focuses on process automation to ensure timely delivery and maintain high-quality standards.
- Strategic plan to increase production capacity, meet rising demand, and comply with technological and regulatory standards.
- Up to 15% of IPO proceeds or ₹10 crore, whichever is lower, may be used for general corporate purposes.
- Remaining requirements beyond IPO proceeds will be financed through internal accruals, with no need for external financing.
About KVS Castings Limited
Incorporated in 2005, KVS Castings Limited is a manufacturer of cast iron, SG iron, alloy steel, and stainless steel castings. The company serves the automobile, locomotive, and engineering sectors, focusing on innovation and high-quality standards. It provides a complete casting solution with a portfolio of over 150 products, including suspension brackets, brake drums, gearbox housings, pump bodies, oil filters, and more, catering to diverse customer needs.
Key products include gear shifters for two-wheelers, compressor front housings for passenger car AC systems, lever shifts for gear transmission, oil filters, and rear brake drums for light commercial vehicles. As of March 31, 2025, the company employs 121 permanent staff. Its competitive strengths lie in a diversified customer base, wide product range, strategic location, in-house tool and pattern making facilities, and a dedicated, experienced workforce.
How To Check the Allotment Status of the KVS Castings 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.
How To Apply for KVS Castings 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 KVS Castings 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.
Contact Details of KVS Castings IPO
Registered Office: KVS Castings Ltd.
B-25, 29,
Industrial Estate Bazpur Road,
Udham Singh Nagar,
Kashipur, Uttarakhand, 244713
Phone: + 91 7535910007
Email: cs.kcpl@kvspremier.com
Website: https://kvscastings.com/
KVS Castings IPO Reservation
|
Investor Category |
Shares Offered |
|
Market Maker |
2,54,000 (5.11%) |
|
QIB (Qualified Institutional Buyers) |
23,52,000 (47.35%) |
|
NII (HNI) |
7,08,000 (14.25%) |
|
Retail |
16,56,000 (33.32%) |
|
Total |
49,70,000 (100%) |
KVS Castings IPO Lot Size
|
Application Type |
Lots |
Shares |
Amount (₹) |
|
Individual Investors (Retail) (Min) |
2 |
4,000 |
2,24,000 |
|
Individual Investors (Retail) (Max) |
2 |
4,000 |
2,24,000 |
|
S-HNI (Min) |
3 |
6,000 |
3,36,000 |
|
S-HNI (Max) |
8 |
16,000 |
8,96,000 |
|
B-HNI (Min) |
9 |
18,000 |
10,08,000 |
KVS Castings IPO Promoter Holding
The promoters of the company are Mr. Arpan Jindal, Mr. Devendra Kumar Agarwal, Ms. Rekha Agarwal, Ms. Venu Jindal, and M/s Kumaun Garhwal Infrastructural Industrial Corporation Private Limited.
|
Share Holding Pre-Issue |
96.55% |
|
Share Holding Post Issue |
70.96% |
Key Performance Indicators for KVS Castings IPO
|
KPI |
Values |
|
ROE (%) |
22 |
|
ROCE (%) |
23.78 |
|
Debt/Equity |
0.11 |
|
RoNW (%) |
22 |
|
PAT Margin (%) |
13.22 |
|
EBITDA Margin (%) |
19.65 |
|
Price to Book Value |
2.89 |
KVS Castings IPO Prospectus
KVS Castings IPO Registrar and Lead Managers
KVS Castings IPO Lead Managers
- Narnolia Financial Services Ltd
Registrar for KVS Castings IPO
Skyline Financial Services Pvt.Ltd.
- Phone: 02228511022
- Email: compliances@skylinerta.com
- Website: https://www.skylinerta.com/ipo.php
Financial Performance of KVS Castings Limited
| Particulars | Year ending on March 31, 2025 | Year ending on March 31, 2024 | Year ending on March 31, 2023 |
|---|---|---|---|
| Assets (₹ crore) | 47.75 | 31.35 | 32.01 |
| Total Income (₹ crore) | 50.43 | 54.70 | 57.51 |
| Profit After Tax (₹ crore) | 6.63 | 5.95 | 4.84 |
| EBITDA (₹ crore) | 9.84 | 9.00 | 7.51 |
| Net Worth (₹ crore) | 34.45 | 25.79 | 19.83 |
| Reserves & Surplus (₹ crore) | 20.67 | 25.46 | 19.51 |
| Total Borrowing (₹ crore) | 3.72 | 0.58 | 4.98 |
Know before investing
Strengths
6Strong relationships with OEMs and Tier-1 customers across commercial vehicles, tractors, railways, and off-highway vehicle segments.
Offers over 150 products in various material grades (Grey Iron, Ductile Iron, Alloy Steel), weights (0.5kg–95kg), and production volumes (50–90,000 parts/month), supplied as rough castings or fully machined sub-assemblies.
Manufacturing plant in Kashipur, 50 km from Rudrapur, close to key customers and steel scrap sources, with good road and rail connectivity.
Equipped with CAD/CAM/CAE tools, CNC and VMC machines, and a well-equipped machining center to ensure high-quality production, faster turnaround, and cost efficiency.
Led by promoters with extensive experience in the casting industry; 121 skilled employees contribute to operational efficiency and market competitiveness.
New Plant Unit-2 with modern machinery will increase capacity from 600 MT/month to 1,000 MT/month, optimizing production efficiency and ensuring timely deliveries.
Risks
6The company’s revenue largely depends on the Indian automobile industry. Any slowdown, regulatory changes, or reduced demand in this sector could negatively impact business operations, results, and financial performance.
Around 80% of revenue comes from auto component products. Declines in demand due to changing market trends, technology, or customer preferences may adversely affect revenue and profitability.
There are pending legal cases involving the company, its promoters, and group companies.
Past negative cash flows, primarily from capital expenditures and loan repayments, could continue in the future.
The company’s manufacturing units require substantial electricity. Any power disruption or increase in tariffs could raise operating costs and impact production efficiency.
The company operates on leased land. Termination or non-renewal of lease agreements could adversely affect operations and increase costs.
KVS Castings Limited Peer Details Comparison
| Name of the Company | EPS (₹) | RoNW (%) | NAV (₹ per share) | PAT (₹ in Lakhs) |
|---|---|---|---|---|
| KVS Castings Limited | 4.50 | 22.00% | 24.99 | 662.53 |
| Universal Auto Foundry Limited | 1.98 | 3.34% | 58.70 | 235.37 |
| Thaai Casting Limited | 5.07 | 13.97% | 36.31 | 1,173.37 |
