SK Minerals & Additives IPO Sees Retail Subscription at 0.38x as Day 2 Closes, Total IPO Subscribed 0.21x by Monday Morning

Mumbai, 13 October 2025: The ₹41.15-crore Initial Public Offering (IPO) of SK Minerals & Additives Ltd continued to witness gradual investor participation on Monday, with the retail category recording a subscription of 0.38 times as of 10:54 AM, while the overall public issue stood at 0.21 times subscribed. Institutional and non-institutional investor activity remains limited, highlighting a measured interest as the IPO approaches its final closing phase.

Incorporated in 2022, SK Minerals & Additives Ltd manufactures and trades specialty chemicals and mineral-based additives catering to food, feed, petroleum, and plywood industries. Key products include Zinc, Copper, and Magnesium Glycinates, Calcium Propionate, Ferric Pyrophosphate, Technical Grade Urea, and By-Pass Fat. The company operates a DSIR-certified R&D facility in Khanna, Ludhiana, and adheres to ISO 9001:2015 and ISO 22000:2018 standards, with branch operations in Mumbai supporting its distribution network.

Retail Investors Drive IPO Demand with 0.38x Subscription, While QIBs Remain Inactive

Retail individual investors emerged as the primary contributors to the IPO subscription, bidding for 4.12 lakh shares out of the 10.78 lakh shares allocated to this category. The qualified institutional buyers (QIBs), excluding anchor investors, have not yet participated, with 0 shares bid against 6.15 lakh shares on offer. Non-institutional investors (NII) recorded a modest 0.08 times subscription, equating to 39,000 shares out of 4.62 lakh shares, primarily concentrated in bids below ₹10 lakh. The limited institutional engagement suggests that market participants are assessing pricing levels carefully.

IPO Pricing Concentrated Near Upper Band, Anchor Book Raises ₹11.72 Crore

Ahead of the public offering, SK Minerals & Additives allocated 9.23 lakh equity shares to six institutional anchor investors at ₹127 per share, the upper end of the ₹120–₹127 price band, raising ₹11.72 crore. The bidding patterns indicate that investors are favouring entry points close to the lower end of the price band, with applications reflecting cautious participation as the subscription period enters its final stages.

IPO Details: ₹41.15-Crore Issue on BSE SME with 1,000 Share Lot Size

The IPO comprises 32.4 lakh shares, priced between ₹120-₹127 per share, with a minimum investment of ₹1,27,000 for a lot size of 1,000 shares. The public subscription period runs from 10-14 October 2025, with listing scheduled for 17 October 2025 on the BSE SME platform. Khambatta Securities Ltd acts as the lead manager, with Maashitla Securities Pvt Ltd as the registrar.

Application Trends Suggest Cautious Approach Amid Selective Retail Uptake

As of Monday morning, total bids across all categories reached 4.51 lakh shares, aggregating ₹5.73 crore in applications. Retail investors continue to dominate the subscription landscape, whereas institutional appetite remains subdued, reflecting measured market engagement and price sensitivity.

The SK Minerals & Additives IPO is progressing steadily, with retail investors leading the subscription while institutional participation remains limited. The pricing trends and allocation patterns highlight a cautious yet deliberate approach from market participants as the IPO nears its final closing days.

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