Shri Hare-Krishna Sponge Iron IPO Opens June 24: Key Details Inside
By Shishta Dutta | Updated at: Jun 20, 2025 08:44 AM IST
Kolkata, Jun 19, 2025 — Shri Hare-Krishna Sponge Iron Limited is set to launch its initial public offering (IPO) on Tuesday, June 24, with a 100% book-built issue of 50.70 lakh equity shares. The Shri Hare-Krishna Sponge Iron IPO will be listed on the NSE SME platform (NSE Emerge) and comprises a fresh issue only, with no offer for sale (OFS) component.
The company has not yet disclosed the price band, but it will be announced at least two working days prior to the opening date.
IPO Snapshot
| Detail | Info |
|---|---|
| Issue Opens | June 24, 2025 |
| Issue Closes | June 26, 2025 |
| Price Band | ₹[To be announced] |
| Issue Size | 50,70,000 shares (Fresh Issue only) |
| Market Maker | 2,58,000 shares |
| Net Issue | 48,12,000 shares |
| Listing Exchange | NSE Emerge (SME platform) |
| Allotment Date | To be updated |
| Listing Date | To be updated |
Company Background
Incorporated in 2003 and headquartered in Kolkata, Shri Hare-Krishna Sponge Iron Limited operates a sponge iron manufacturing facility in Siltara, Raipur, Chhattisgarh, spread across 13.45 acres. The plant has a current production capacity of 30,000 MTPA.
Sponge iron is a critical raw material used in electric arc and induction furnaces for steel production, and the company serves customers in key markets like Chhattisgarh, Maharashtra, and Madhya Pradesh.
Financial Highlights
Here’s a summary of the company’s financial performance (₹ in lakhs):
| FY Ended March 31 | FY23 | FY24 | FY25 |
|---|---|---|---|
| Revenue from Ops | 9,425.17 | 8,226.63 | 8,047.00 |
| Profit After Tax | 1,052.53 | 1,017.44 | 919.80 |
| Net Worth | 5,421.94 | 6,439.38 | 7,359.18 |
| Total Assets | 5,858.45 | 7,573.53 | 9,315.59 |
| EPS (Basic & Diluted) | ₹7.45 | ₹7.21 | ₹6.51 |
| ROE (approx.) | 19.41% | 15.80% | 12.50% |
The company has shown consistent profitability with a moderate decline in revenues but strong growth in net worth and asset base.
IPO Objectives
The primary objective of the issue is to fund a captive power plant at the existing Raipur facility, with an estimated capital outlay of ₹2,300 lakh, and meet general corporate purposes.
Promoters and Shareholding
The company is promoted by Anita Tradelinks Pvt Ltd, Buxom Trexim Pvt Ltd, and the Parasrampuria family. Post-issue, the promoter holding will be diluted from 100% to approximately 73.58%, ensuring regulatory compliance for SME IPOs.
Lead Manager and Registrar
- BRLM: Hem Securities Limited (ib@hemsecurities.com, +91-22-49060000)
- Registrar: KFin Technologies Ltd (shrihare.ipo@kfintech.com, +91 40 67162222)
What to Watch
- Dependency on a single product line (Sponge Iron) — over 95% of revenue.
- High customer concentration — top 5 customers contribute over 70% of revenues.
- Past regulatory issue — SEBI settlement in 2024 over historical trades.
- Capex risk — Power plant project execution is critical to margin improvement.
The Shri Hare-Krishna Sponge Iron IPO opens on June 24 and closes on June 26, with anchor investor participation scheduled for June 23. The listing is expected shortly after the allotment finalization.
Stay tuned for the announcement of the price band and lot size, which will be made available on the SME platform of NSE and in national newspapers.
REF: https://nsearchives.nseindia.com/emerge/corporates/content/ShriHare-KrishnaSpongeIronLimited_RHP.pdf
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