Super Iron Foundry IPO is a fixed-price issue worth ₹68.05 crore, consisting entirely of a fresh issue of 63.01 lakh shares. The IPO is open for subscription from March 11, 2025, and is closing soon on March 13, 2025. The allotment is expected to be finalised on March 17, 2025, with a tentative listing date set for March 19, 2025, on the BSE SME platform.
The IPO is priced at ₹108 per share. Retail investors need to apply for a minimum lot size of 1,200 shares, requiring an investment of ₹1,29,600. High Net-worth Individuals (HNIs) must apply for at least two lots (2,400 shares), amounting to ₹2,59,200.
Horizon Management Private Limited is managing the book-running process for the IPO, while Link Intime India Private Ltd is acting as the registrar. Giriraj Stock Broking Private Limited has been appointed as the market maker for the issue.
Investors looking for more details about the Super Iron Foundry IPO can refer to the Red Herring Prospectus (RHP) for comprehensive insights into the company’s financials and objectives.
Industry Outlook
- The Indian foundry and casting industry plays a crucial role in the manufacturing sector, supplying essential components to industries like automobiles, construction, railways, and defence. The industry produces approximately 12 million MT of castings annually and is expected to reach a valuation of USD 25 billion by 2025.
- With India's manufacturing sector projected to contribute 25% to GDP and create 100 million new jobs in the next decade, demand for castings is set to rise significantly. Additionally, with 1,500 Indian foundries having international quality certifications, Super Iron Foundry Limited can leverage its expertise to expand in global markets and contribute to the industry’s export growth, currently valued at USD 3.54 billion.
Super Iron Foundry IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- The proceeds will be used to meet the company's operational and financial needs, ensuring smooth business operations.
- A portion of the funds will be allocated to repaying or pre-paying certain borrowings, reducing financial liabilities and improving cash flow.
- The remaining funds will be used for general corporate purposes.
About Super Iron Foundry Limited
Super Iron Foundry Limited, established in 1988, transitioned from a private limited company to a public limited company in 2024. The company operates in the iron and steel foundry sector, specialising in casting and manufacturing access covers and gully grates used in roadway construction. These products play a crucial role in major infrastructure projects by providing access to stormwater, sewerage, telecom, and other utility networks.
The manufacturing facility, located in Durgapur, West Bengal, spans approximately 20 acres and boasts a production capacity of 72,000 MT per annum. The facility is equipped with advanced automation, including robotic arms for painting and grinding, ensuring high production efficiency, low power consumption, and enhanced profit margins. The company follows international quality standards, holding certifications such as ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018.
Super Iron Foundry Limited exports over 95% of its products to European and Middle Eastern markets, where quality standards are paramount. In Europe, sales are managed through distributors under subcontract manufacturing agreements, while in the Middle East, agents handle direct supplies for mega infrastructure projects. The company has contributed to prestigious projects, including the New Hamad Port Project in Qatar, the New Turkish Air Base, and the Lusail FIFA Stadium.
With a strong research and development facility, the company ensures stringent quality control and compliance with international standards like EN124. Its diversified product portfolio now includes castings for water pipe networks, railways, counterweights, and the agricultural industry, reinforcing its position as a trusted global supplier in the casting industry.
How To Check the Allotment Status of Super Iron Foundry 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 Super Iron Foundry 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 Super Iron Foundry 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 Super Iron Foundry IPO
Registered office: Aspiration Vintage 12, Pretoria Street, 1st Floor, Suite 1B, Kolkata – 700 071
Phone: + 91 33 4060 3050
E-mail: cs@superironfoundry.com
Super Iron Foundry IPO Reservation
|
Investor Category |
Shares Offered |
|
Anchor Investor Shares |
- |
|
Market Maker Shares |
3,15,600 (5.01%) |
|
Other Shares |
29,92,800 (47.5%) |
|
Retail Shares |
29,92,800 (47.5%) |
|
Total Shares |
63,01,201 (100%) |
Super Iron Foundry IPO Lot Size
|
Application |
Lots |
Shares |
Amount |
|
Retail (Min) |
1 |
1,200 |
₹1,29,600 |
|
Retail (Max) |
1 |
1,200 |
₹1,29,600 |
|
HNI (Min) |
2 |
2,400 |
₹2,59,200 |
Super Iron Foundry IPO Promoter Holding
Abhishek Saklecha, Akhilesh Saklecha, Neha Saklecha and Priyanka Saklecha are the promoters of the company.
|
Share Holding Pre-Issue |
96.53% |
|
Share Holding Post Issue |
70.53% |
Note: Equity dilution will be determined by subtracting the Share Holding Post Issue from the Share Holding Pre Issue.
Key Performance Indicators for Super Iron Foundry IPO
As of March 31, 2024, the market capitalisation of Super Iron Foundry's IPO is ₹252.65 crore. Here are the KPIs of Super Iron Foundry:
|
KPI |
Value |
|
RoE (%) |
7.53 |
|
RoCE (%) |
7.22 |
|
Debt/Equity |
6.26 |
|
PAT Margin |
394.07 |
Price Metrics
|
Metric |
Pre-IPO |
Post-IPO |
|
EPS (₹) |
2.31 |
5.43 |
|
P/E (x) |
46.84 |
19.89 |
Note: The Pre-IPO EPS is determined using the shareholding before the issue as stated in the RHP and the latest financial year earnings as of March 31, 2024, available in the RHP. The Post-Issue EPS is calculated based on the shareholding after the issue and the annualised earnings for the financial year up to December 31, 2024, as mentioned in the RHP.
Super Iron Foundry IPO Prospectus
Super Iron Foundry IPO Registrar and Lead Managers
Super Iron Foundry IPO Lead Managers
- Horizon Management Private Limited
Registrar for Super Iron Foundry IPO
Link Intime India Private Limited
- Contact Number:+91-22-4918 6270
- Email Address: superiron.smeipo@linkintime.co.in
Super Iron FoundryIPO Registrar
Financial Performance of Super Iron Foundry Limited
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 |
|---|---|---|
| Revenue from Operation (in ₹ lakh) | 15,482.99 | 12,480.27 |
| Profit After Tax (PAT) (in ₹ lakh) | 394.07 | 128.33 |
| EPS (Earnings per Share in ₹) | 2.39 | 0.78 |
| Total Borrowings (in ₹ lakh) | 11,862.86 | 12,043.78 |
| Return on equity (%) | 7.22 | 2.47 |
| Return on capital employed (%) | 7.53 | 5.44 |
| EBITDA (in ₹ lakh) | 1,834.38 | 1,344.38 |
| PAT Margin (%) | 2.55 | 1.03 |
Know before investing
Strengths
8Super Iron Foundry offers 500+ products, including customised casting solutions.
Strong presence in Europe and the Middle East with global exports.
Recognised brand in municipal castings with over two decades of expertise.
ISO 9001:2015 and BSI-certified manufacturing ensures high-quality standards.
Cost-efficient production in West Bengal benefits from local skilled labour.
Long-term relationships with marquee clients across 12+ international markets.
Strategic expansion into mega projects in Saudi Arabia and beyond.
Led by an experienced management team with 19+ years in manufacturing.
Risks
8Any disruption at the Durgapur facility may impact production and revenue.
Fluctuations in raw material prices could affect financial stability and profits.
Conflicts of interest with promoters may impact business operations.
Dependence on a few key customers poses a risk to revenue stability.
Non-renewal of the registered office lease may disrupt operations.
Failure to obtain necessary approvals could affect business continuity.
High capital requirements and debt levels may strain financial health.
Export dependency (95%) makes the company vulnerable to trade policy changes.
Peer Comparison of Super Iron Foundry Limited
| Company Name | EPS (Basic) | NAV (per share) (₹) | RoNW (%) | P/BV Ratio |
|---|---|---|---|---|
| Super Iron Foundry Limited | 2.39 | 34.28 | 6.97 | 3.18 |
| Bhagwati Autocast Limited | 24.10 | 142 | 18.4 | 2.75 |
| Universal Autofoundry Limited | 3.93 | 58.66 | 6.7 | 2.71 |
