Classic Electrodes IPO

₹1,31,200/1,600 shares

Minimum Investment

IPO Details

Open Date

22 Aug 25

Close Date

26 Aug 25

Minimum Investment

₹1,31,200

Lot Size

1,600

Price Range

₹82 to ₹87

Listing Exchange

NSE

Issue Size

₹41.51 Cr

Listing Date

01 Sep 25

Open Free Demat Account

Classic Electrodes IPO Timeline

Bidding Start

22 Aug 25

Bidding Ends

26 Aug 25

Allotment Finalisation

28 Aug 25

Refund Initiation

28 Aug 25

Demat Transfer

29 Aug 25

Listing

01 Sep 25

Classic Electrodes (India) Ltd.

Established in 1997 and headquartered in Kolkata, West Bengal, Classic Electrodes (India) Limited is a leading Indian manufacturer of welding consumables, including electrodes and MIG wires. The company serves both domestic and international customers, providing high-quality welding products and engineering solutions. Its diverse product range includes mild steel, stainless steel, cast iron, deep penetration electrodes, and MIG wires for various industrial applications. With manufacturing units in Dhulagarh, West Bengal, and Jhajjar, Haryana, the strategically located facilities ensure efficient distribution, raw material sourcing, and customer access across regions.

Classic Electrodes Limited Overview

Classic Electrodes IPO is a book-built issue worth ₹41.51 crores, comprising entirely a fresh issue of 0.48 crore shares. The IPO dates are yet to be announced. The price band for the shares is set between ₹82 and ₹87, with a lot size of 1,600 shares. Retail investors can apply with a minimum investment of ₹1,31,200, while HNI investors must apply for at least 2 lots (3,200 shares), amounting to ₹2,78,400. GYR Capital Advisors Pvt. Ltd. is the book running lead manager, and MUFG Intime India Pvt. Ltd. is the registrar of the issue.

Classic Electrodes Limited IPO Details

Particulars	Details
IPO Date	22 August 2025 to 26 August 2025
Listing Date	1 September 2025 (Tentative)
Face Value	₹10 per share
Issue Price Band	₹82 to ₹87 per share
Lot Size	1,600 Shares
Total Issue Size	47,71,200 shares (₹41.51 Cr)
Fresh Issue	47,71,200 shares (₹41.51 Cr)
Offer for Sale	NA
Issue Type	Bookbuilding IPO
Listing At	NSE SME
Share Holding Pre Issue	1,31,93,750 shares
Share Holding Post Issue	1,79,64,950 shares
Market Maker Portion	2,78,400 shares

Classic Electrodes Limited IPO Reservation

Investor Category	Shares Offered
QIB	Not more than 50% of the Net Issue
Retail	Not less than 35% of the Net Issue
NII (HNI)	Not less than 15% of the Net Issue

Classic Electrodes Limited IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	2	3,200	₹2,78,400
Retail (Max)	2	3,200	₹2,78,400
S-HNI (Min)	3	4,800	₹4,17,600
S-HNI (Max)	7	11,200	₹9,74,400
B-HNI (Min)	8	12,800	₹11,13,600

Classic Electrodes Limited IPO Promoter Holding

Shareholding Status	Percentage
Pre-Issue	97.73%
Post-Issue	71.77%

Classic Electrodes Limited IPO Valuation Overview

KPI	Value
Earnings Per Share (EPS)	7.26
Price/Earnings (P/E) Ratio	21.95
Return on Net Worth (RoNW)	21.95%
Net Asset Value (NAV)	33.05
Return on Equity	24.66%
Return on Capital Employed (ROCE)	17.68%
EBITDA Margin	10.24%
PAT Margin	5.10%
Debt to Equity Ratio	1.23

Objectives of the Proceeds

Funding capital expenditure to purchase plant and machinery – ₹100 Million

Repayment of a portion of certain outstanding borrowings – ₹100 Million

Funding working capital requirements – ₹166 Million

General corporate purposes – Amount not specified

Key Financials (in ₹ Crores)

Particulars	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	92.2	76.79	74.99
Revenue	194.41	151.13	134.37
Profit After Tax	12.28	2.08	1.45
Reserves and Surplus	28.64	16.36	1,427.56
Total Borrowings	45.73	43.11	39.21

SWOT Analysis of Classic Electrodes IPO

Strength and Opportunities

Strong brand recognised for quality and performance in welding consumables.
Wide product range covering mild steel, stainless steel, cast iron electrodes, and MIG wires.
Modern manufacturing facilities with automated production ensuring efficiency and consistency.
Efficient supply chain and strong dealer network ensures timely product delivery.
In-house R&D enables innovation and adaptation to industry requirements.

Risks and Threats

High dependence on raw material imports increases cost volatility.
Limited global presence compared to some international competitors.
Debt-to-equity ratio is moderate, indicating reliance on borrowings.
Exposure to fluctuations in industrial demand may impact revenue.
Regulatory changes in the industrial and export sectors may affect operations.

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About Classic Electrodes (India) Ltd

Classic Electrodes IPO Strengths

Well-established brand recognised for superior quality, consistent performance, and reliability across domestic and select international markets.

Offers a comprehensive range of welding consumables, including mild steel, stainless steel, cast iron, deep penetration electrodes, and MIG wires.

Operates a modern, automated manufacturing facility in West Bengal, ensuring high production efficiency and product consistency.

Maintains a strong emphasis on quality standards and industry certifications across all product lines.

Efficient supply chain and robust dealer network guarantee timely delivery of products to customers.

Dedicated in-house Research & Development team drives innovation and product improvements.

Peer Comparison

Company Name	EPS (Basic)	EPS (Diluted)	NAV (₹)	P/E (x)	RoNW (%)	P/BV Ratio
Classic Electrodes (India) Ltd.	7.26	7.26	33.05	–	21.95	–
Peer Group
D & H India Ltd	6.40	6.40	57.38	28.93	10.97	3.25
Ador Welding Ltd	34.51	34.51	291.38	28.55	11.84	3.38
Diffusion Engineers Ltd	9.59	9.59	98.56	33.91	9.73	3.32

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