Shri Hare-Krishna Sponge Iron IPO is a book-built issue worth ₹28.39 crore. The entire offering consists of a fresh issue of 48.12 lakh equity shares. The IPO will open for public subscription on June 24, 2025, and will close on June 26, 2025. The basis of allotment is likely to be finalised on June 27, 2025.
The shares are proposed to be listed on the NSE SME platform with a tentative listing date set for July 1, 2025. The price band for the IPO is fixed between ₹56 and ₹59 per share. Retail investors can apply for a minimum of 2,000 shares, which requires an investment of ₹1,12,000.
However, to increase the chances of allotment, bidding at the cutoff price would require an investment of ₹1,18,000. For HNI investors, the minimum application size is two lots or 4,000 shares, amounting to ₹2,36,000.
Hem Securities Limited is acting as the book-running lead manager for this IPO. Kfin Technologies Limited is the registrar, while Hem Finlease Private Limited will serve as the market maker. Refer to the RHP for complete details.
Industry Outlook
- India’s crude steel production reached 193.16 MT in FY23 and 118 MT in FY24 (up to January), reflecting steady growth in domestic steel manufacturing.
- Steel production capacity is expected to rise from 171 MT in FY24 to 300 MT by 2030-31, supported by investments worth ₹10 lakh crore (US$ 156.08 billion).
- Iron ore production rose to 257.85 MT in FY23 from 205.04 MT in FY21, indicating robust raw material availability for steel production.
Shri Hare-Krishna Sponge Iron IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Funds will be used to set up a Captive Power Plant at Siltara, Raipur. The investment aims to reduce power dependency and improve operational efficiency.
- A portion of the funds will be used for general corporate purposes to support overall business needs.
About Shri Hare-Krishna Sponge Iron Limited
Shri Hare-Krishna Sponge Iron Limited, established in 2003, is involved in manufacturing and selling sponge iron, a key raw material used in steel production through electric arc and induction furnaces. The company supplies sponge iron to steel producers in specific regions and operates from a manufacturing unit located in Siltara, Raipur, Chhattisgarh.
Spread over 13.45 acres, the facility has an annual production capacity of 30,000 metric tonnes. The plant benefits from a strategic location with easy access to essential raw materials such as iron ore, pellets, coal, and dolomite, available locally, helping reduce transportation and procurement costs.
The company reported revenue of ₹8,047 lakh for FY 2025, with sponge iron contributing 95.67% to the revenue.
Due to rising power costs, operations related to mild steel ingots and other steel products were paused in 2020. To overcome this, the company plans to install a captive power plant, which will support consistent and cost-effective production. Shri Hare-Krishna Sponge Iron Limited holds ISO certifications for quality, environment, and occupational safety.
Products are mainly sold in Maharashtra, Madhya Pradesh, and Chhattisgarh. Under the leadership of Mr. Manoj Parasrampuria, the company focuses on in-house production efficiency, raw material testing, and maintaining product quality to strengthen its market position.
How To Check the Allotment Status of Shri Hare-Krishna Sponge Iron 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 the Shri Hare-Krishna Sponge Iron 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 Shri Hare-Krishna Sponge Iron 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 Shri Hare-Krishna Sponge Iron IPO
Registered office: Flat No 2-D, 2nd Floor, Tower No. 1, Alcove Gloria, Municipal Premises No. 403/1, Dakshindari Road, VIP Road, Kolkata, Sreebhumi, North 24 Parganas, West Bengal, India, 700048
Phone:+91-9589116050
E-mail: cs@shkraipur.com
Shri Hare-Krishna Sponge Iron IPO Reservation
|
Investor Category |
Number of Shares Allotted |
Percentage of Total Issue |
|
Market Maker |
2,58,000 |
4.84 |
|
Qualified Institutional Buyers (QIB) |
24,02,000 |
45.08 |
|
└─ Anchor Investors |
14,40,000 |
27.03 |
|
└─ QIB (Excluding Anchor) |
9,62,000 |
18.06 |
|
Non-Institutional Investors (NII/HNI) |
7,24,000 |
13.59 |
|
Retail Individual Investors |
16,86,000 |
31.64 |
|
Total Issue Size |
53,28,000 |
100.00 |
Shri Hare-Krishna Sponge Iron IPO Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Retail (Min) |
1 |
2,000 |
₹1,12,000 |
|
Retail (Max) |
1 |
2,000 |
₹1,18,000 |
|
HNI (Min) |
2 |
4,000 |
₹2,36,000 |
Shri Hare-Krishna Sponge Iron IPO Anchor Investors Details
|
Bid Date |
June 23, 2025 |
|
Shares Offered |
14,40,000 |
|
Anchor Portion Size (In Cr.) |
8.50 |
|
Anchor lock-in period end date for 50% shares (30 Days) |
July 27, 2025 |
|
Anchor lock-in period end date for remaining shares (90 Days) |
September 25, 2025 |
Shri Hare-Krishna Sponge Iron IPO Promoter Holding
Anita Tradelinks Private Limited, Buxom Trexim Private Limited, Shyam Sunder Parasrampuria, Manoj Parasrampuria and Manish Parasrampuria are the promoters of the company.
|
Share Holding Pre-Issue |
100% |
|
Share Holding Post Issue  |
73.58% |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Shri Hare-Krishna Sponge Iron IPO
|
KPI |
Value |
|
ROE (%) |
13.33 |
|
RoCE (%) |
14.70 |
|
Price to Book Value |
1.29 |
|
PAT Margin (%) |
11.43 |
Shri Hare-Krishna Sponge Iron IPO Prospectus
Shri Hare-Krishna Sponge Iron IPO Registrar and Lead Managers
Shri Hare-Krishna Sponge Iron IPO Lead Managers
- Hem Securities Limited
Registrar for Shri Hare-Krishna Sponge Iron IPO
Kfin Technologies Limited
- Contact Number: 04067162222, 04079611000
- Email Address: ipo@kfintech.com
Shri Hare-Krishna Sponge Iron IPO Registrar
Financial Performance of Shri Hare-Krishna Sponge Iron Limited
| Particulars | Year ending on March 31, 2025 | Year ending on March 31, 2024 |
|---|---|---|
| Revenue from Operation (in ₹ lakh) | 8,047.00 | 8,226.63 |
| Profit/ (loss) for the year (in ₹ lakh) | 919.80 | 1,017.44 |
| Earnings per Share (₹) | 6.51 | 7.21 |
| Net Worth (in ₹ lakh) | 7,359.18 | 6,439.38 |
| Return on Equity (RoE) (%) | 13.33 | 17.16 |
| Return on Capital Employed (RoCE) | 14.70 | 19.24 |
| EBITDA (in ₹ lakh) | 1,078.23 | 1,210.61 |
Know before investing
Strengths
8Operates on 13.45-acre Raipur plant with 30,000 MT capacity.
Easy raw material access helps reduce procurement and logistics cost.
In-house lab ensures product quality meets all customer specifications.
ISO 9001, 14001, 45001 certifications boost credibility and compliance.
Longstanding customer relationships ensure repeat business and steady demand.
5MW captive power plant to reduce costs and improve efficiency.
Skilled leadership team drives growth using deep industry knowledge.
Plans to expand cast iron division using sponge iron byproducts.
Risks
8High power costs led to plant shutdown since 2020 operations.
Top five customers contributed 70.22% revenue in FY25.
SEBI penalty of ₹2.4 lakhs imposed for trading violations.
Raw material costs formed 77.39% of FY25 operational revenue.
Business relies on Maharashtra, Chhattisgarh, and Madhya Pradesh customers.
₹128.5 lakh machinery yet to be ordered for power plant.
Sponge iron segment contributed 95.67% revenue in FY25 alone.
Past compliance issues may attract penalties, affecting company’s reputation.
Shri Hare-Krishna Sponge Iron IPO Peer Comparison
| Company Name | EPS (Basic) | EPS (Diluted) | P/E (x) | RoNW (%) |
|---|---|---|---|---|
| Shri Hare-Krishna Sponge Iron Limited | 6.51 | 6.51 | - | 15.80 |
| Vraj Iron And Steel Limited | 14.28 | 14.28 | 12.54 | 11.11 |
| Chaman Metallics Limited | 4.05 | 4.05 | 36.05 | 9.83 |
