Sri Kanha Stainless Opens SME IPO at ₹90; Plans Debt Repayment and Capacity Upgrade with Proceeds

Wednesday, December 03, 2025: The ₹46.28 crore IPO of Sri Kanha Stainless will open today on Wednesday, December 03. The company, based in Rajasthan, is a specialist in manufacturing precision steel cold rolled strips and also manufactures ultra-thin and thin gauge metal sections. The company’s output is used by a wide range of sectors including textiles, chemicals, and engineering goods. The company’s open order book is ₹12.73 crore as of November 2025.

The issue shall remain open until Friday, December 05, 2025, and is scheduled for a listing on the NSE SME Exchange on December 10, 2025.

IPO Details, Price Band and Lot Size

This is a fresh issue of ₹46.28 crores. The issue does not have a price band but a fixed offer price of ₹90 per share. The lot size is 3200 shares (for retail investors) making the minimum application amount ₹2.88 lakhs (Retail investors can bid for a minimum 3200 shares and in multiple of 1600 shares thereafter). 

IPO Objectives and Funds Usage

The company intends to use the proceeds of Sri Kanha Stainless IPO in different areas. Around ₹12 crore will be utilised for upgrading the existing manufacturing facilities and installation of new machinery. ₹18 crore will be used for repayment of debt and other borrowings. Around ₹5.48 crore will be used for meeting the working capital requirements of the company. The remaining amount (₹5 crore) are earmarked for general corporate purposes. 

IPO Registrar and Fund Managers

Kreo Capital Pvt. Ltd. is the book running lead manager. The registrar of the IPO is MAS Services Ltd. The Market Maker of the company is Giriraj Stock Broking Pvt. Ltd.

Recent Financial Performance

The company has performed reasonably well in the past few quarters. For FY25, the total revenue reached ₹146.39 crore compared to ₹131 crore in FY 24. Besides the 12% increase in the total revenues of the company, there was an increase of more than two times in the PAT which reached to ₹5.79 crore in FY25 compared to ₹2.6 crore in FY24. 

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