Kasturi Metal Composite IPO (SME)
Kasturi Metal Composite IPO is a book building SME issue of Rs. 17.61 crore, comprising a fresh issue of 0.28 crore equity shares aggregating to Rs. 17.61 crore and an offer for sale of 0.00 crore equity shares aggregating to Rs. 0.00 crore. The IPO opens for subscription on Tuesday, January 27, 2026 and closes on Thursday, January 29, 2026. The allotment is expected to be finalised on Friday, January 30, 2026, and the shares are proposed to be listed on the BSE SME platform with a tentative listing date of Tuesday, February 3, 2026.
The IPO is offered in a price band of Rs. 61 to Rs. 64 per share with a lot size of 2,000 shares. At the upper price band, the minimum investment for retail investors works out to Rs. 2,56,000 for 2 lots (4,000 shares), while HNI investors are required to apply for a minimum of 3 lots (6,000 shares), amounting to Rs. 3,84,000. Hem Securities Ltd. is the Book Running Lead Manager to the issue, Bigshare Services Pvt. Ltd. is the Registrar, and Hem Finlease Pvt. Ltd. is the Market Maker for the IPO.
🕗 Last Update: 20 January 2026, 6.00 AM
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IPO Snapshot
| Particulars | Details |
|---|---|
| IPO Type | Book Building SME IPO |
| Issue Size | Rs. 17.61 Cr |
| Fresh Issue | 27,52,000 shares (agg. up to Rs. 17.61 Cr) |
| Offer for Sale | — |
| Face Value | Rs. 10 per share |
| Price Band | Rs. 61 to Rs. 64 |
| Lot Size | 2,000 shares |
| Listing Platform | BSE SME |
| Market Cap (Pre-IPO) | Rs. 66.53 Cr |
| Total Issue Size | 27,52,000 shares (agg. up to Rs. 17.61 Cr) |
| Market Maker Reservation | 1,38,000 shares (agg. up to Rs. 0.88 Cr) |
| Net Offered to Public | 26,14,000 shares (agg. up to Rs. 16.73 Cr) |
IPO Timetable (Tentative)
| Event | Date |
|---|---|
| IPO Opens | Tue, Jan 27, 2026 |
| IPO Closes | Thu, Jan 29, 2026 |
| Allotment | Fri, Jan 30, 2026 |
| Refunds | Mon, Feb 2, 2026 |
| Credit of Shares | Mon, Feb 2, 2026 |
| Listing | Tue, Feb 3, 2026 |
IPO Reservation Structure
| Investor Category | Shares Offered | % of Issue |
|---|---|---|
| Market Maker | 1,38,000 | 5.01% |
| QIB (Total) | 13,04,000 | 47.38% |
| â”” Anchor Investors (within QIB) | 7,82,000 | 28.42% |
| â”” QIB (Ex-Anchor) | 5,22,000 | 18.97% |
| NII (HNI) | 3,94,000 | 14.32% |
| â”” bNII (> Rs. 10L) | 2,62,000 | 9.52% |
| â”” sNII (< Rs. 10L) | 1,32,000 | 4.80% |
| Retail (RII) | 9,16,000 | 33.28% |
| Total | 27,52,000 | 100.00% |
IPO Lot Size & Investment Amount
| Category | Lots | Shares | Amount (Rs.) |
|---|---|---|---|
| Retail (Min & Max) | 2 | 4,000 | 2,56,000 |
| S-HNI (Min) | 3 | 6,000 | 3,84,000 |
| S-HNI (Max) | 7 | 14,000 | 8,96,000 |
| B-HNI (Min) | 8 | 16,000 | 10,24,000 |
Issue Management
| Role | Name |
|---|---|
| Registrar | Bigshare Services Pvt. Ltd. |
| Market Maker | Hem Finlease Pvt. Ltd. |
| Kasturi Metal Composite Ltd. Address | A30/3/1, MIDC, H. V. Nagar, Amravati, Maharashtra, 444605 |
| Phone / Email | +0721-2520293 | info@steelfiberindia.in |
| Lead Manager | Hem Securities Ltd. |
About the business
Kasturi Metal Composite Limited was incorporated in 2005 and is engaged in the manufacturing, supply, and export of steel fiber products for industrial applications.
The company manufactures steel wool fiber used in brake pads and clutches, trades Durocrete PP Fibers, and offers concrete flooring solutions through Durafloor Concrete Solution LLP.
The company markets Duraflex and Durabond product lines for industries such as construction, mining, and automotive, offering solutions for tunnels, roads, bridges, and industrial flooring applications.
The company operates three units in MIDC Amravati: Unit 1 for fine wire drawing, and Units 2 and 3 for steel fibers and mild steel wire production.
Products Portfolio
| Product / Solution | Use-case |
|---|---|
| Duraflex Steel Fibers | High-strength fibers for tunnels, mines, and rock stabilisation; improves ductility and load capacity |
| Industrial Flooring Fibers | Strengthens concrete in warehouses, factories, roads, and precast walls; improves crack resistance |
| Durabond Steel Wool Fiber | High thermal stability fibers; used for reinforcement; available in various grades |
As on October 31, 2025, the company has 98 permanent full-time employees.
Competitive Strengths
| Key Strength | Commentary |
|---|---|
| Strong manufacturing capabilities | Multiple units enabling integrated production and consistent output quality |
| Strong portfolio and diverse range of steel fiber products | Product suite across steel fibers, steel wool fiber, and flooring solutions |
| Stringent quality control mechanism | Standardised testing and QC systems for industrial-grade applications |
| Established relationships with customers across various geographical locations | Presence across multiple geographies and end-user industries |
| Experienced promoter and strong management team | Promoter-led business with domain experience |
Company Financials (Restated – Rs. Cr.)
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Total Assets | 44.43 | 35.57 | 33.45 | 21.71 |
| Total Income | 32.29 | 57.22 | 50.20 | 37.37 |
| EBITDA | 4.80 | 5.69 | 5.40 | 3.97 |
| PAT | 2.47 | 2.07 | 2.35 | 1.49 |
| Net Worth | 20.19 | 17.76 | 12.29 | 7.03 |
| Reserves & Surplus | 12.55 | 10.12 | 11.28 | 6.24 |
| Total Borrowings | 14.28 | 13.15 | 11.83 | 9.78 |
Key Performance Indicators (KPI)
| KPI | Sep 30, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 13.01% | 13.80% |
| ROCE | 12.35% | 13.76% |
| Debt / Equity | 0.71 | 0.74 |
| RoNW | 12.03% | 11.54% |
| PAT Margin | 7.71% | 3.64% |
| EBITDA Margin | 9.99% | 9.99% |
| Price to Book Value | 2.42 | 0.42 |
Valuation Snapshot
| Particulars | Pre-IPO | Post-IPO |
|---|---|---|
| EPS (Rs.) | 2.71 | 4.75 |
| P/E (x) | 23.59 | 13.47 |
| Promoter Holding | 92.35% | 67.90% |
Objects of the Issue
| No. | Object | Amount (Rs. Cr.) |
|---|---|---|
| 1 | Funding the capital expenditure towards mechanical and electrical works, interior work and procurement of plant and machinery for setting up a new manufacturing facility at Amravati, Maharashtra (Proposed Unit IV) | 13.29 |
| 2 | General corporate purpose | Balance |
Promoters
The promoters of the company are Mr. Samit Surendra Singhai, Mr. Akash Surendra Singhai, Mr. Surendra Fatechand Singhai, and Mrs. Lata Surendra Singhai.
IPO Registrar
Bigshare Services Pvt. Ltd.
+91-22-6263 8200
ipo@bigshareonline.com
Visit Website
IPO Lead Manager(s)
Hem Securities Ltd.
Contact Details
Kasturi Metal Composite Ltd. Address
A30/3/1,
MIDC,
H. V. Nagar, Amravati,
Amravati, Maharashtra, 444605
+0721-2520293
info@steelfiberindia.in
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Disclaimer
This coverage is for informational and educational purposes. Chanakya Ni Pothi does not deal in Grey Market Premiums or recommend investments based on GMP data. Please consult your SEBI-registered investment advisor.
