Krupalu Metals IPO Key Dates
| Anchor Investor Subscription | Â |
| IPO opens on | 8 Sept. 2025 |
| IPO Closes on | 11 Sept. 2025 |
| Allotment on | 12 Sept. 2025 |
| Credit of shares on | 15 Sept. 2025 |
| Tentative Listing on | 16 Sept. 2025 |
Krupalu Metals IPO Condenses Verdict
Krupalu Metals has demonstrated consistent growth in revenue and profitability over the last three years, with improved EBITDA margins and strengthening net worth. Its focus on brass and copper products, supported by a well-equipped Jamnagar facility, gives it a niche positioning. However, high inventory levels compared to monthly sales, coupled with dependence on maintaining lower raw material costs, pose risks to sustainability of margins. Investors must weigh the growth potential against these risks before taking exposure in this SME IPO
Final Subscription TallyÂ
| Size Rs.12.80Crore | ||||
| QIB | NII x | RII x | Total x | Applications |
| Â | 6.45 | 1.85 | 2.96 | 361 |
| Subscription Review: With few large applications, over subscription appears to be 2.96T |
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About Krupalu Metals
Incorporated in 2012, Krupalu Metals Limited is engaged in the manufacturing of a wide range of brass and copper products. The company’s product portfolio includes brass and copper sheets, strips, rods, inserts, pipe fittings, terminals, bus bars, and custom-made parts. It also undertakes job work services to cater to diverse client requirements.
The company operates a dedicated manufacturing facility at Plot No. 4345, GIDC Phase-III, Dared Udhyognagar, Jamnagar, Gujarat – 361009, which is equipped to deliver precision-engineered brass and copper products.
Products & Services
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Brass Sheets and Strips – available in various thicknesses and finishes.
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Brass and Copper Rods – used in multiple industrial applications.
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Sheet Metal Parts – customized pressed parts from brass and copper sheets.
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Brass Washers and Stamping Parts – high-precision industrial components.
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Brass Sheet Metal Components – including press components and terminals.
As of July 31, 2025, the company employed 13 permanent staff, while an additional 40 workers are engaged on a need basis.
Krupalu Metals IPO Details
|
Sector:Â |
|
| IPO opens on | 8 September 2025 |
| IPO closes on | 10 Septmeber 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 18,72,000 Shares / Rs 13.48 Crore |
| * Fresh Issue | – |
| * Offer for Sale – | – |
| Market Maker Portion | 94400 Shares |
| Net offer to Public | 17,77,600 Shares Rs. 12.80 Crores |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 72 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 1600 Shares |
| Listing will at | BSE SME |
How shares are being offered
| Investor Category | Shares Offered |
| Market Maker Shares Offered | 94,400 (5.04%) |
| NII (HNI) Shares Offered | 8,88,000 (47.44%) |
| Retail Shares Offered | 8,89,600 (47.52%) |
| Total Shares Offered | 18,72,000 (100.00%) |
| Application | Lots | Shares | Amount Rs. |
| Retail (Min) | 2 | 3,200 | 2,30,400 |
| Retail (Max) | 2 | 3,200 | 2,30,400 |
| HNI (Min) | 3 | 4,800 | 3,45,600 |
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Who are the Promoters of Krupalu Metals IPO?
The promoters hold 100% of the pre-IPO capital
What are the Objects of Krupalu Metals IPO?
The Company proposes to utilize the Net Proceeds from Issue towards funding the following objects
+ Funding Capital Expenditure towards purchase of additional plant and machinery Rs. 5.18 Crore
+ Working Capital Requirements Rs. 5.70 Crore
+Issue Related Expenses Rs. 1.49 CroreÂ
+ General Corporate purposes
Krupalu Metals IPO Lead Managers
Finshore Management Services ltd
| Registered Office of the Company |
| Krupalu Metals Ltd. Plot No 4345, GIDC Phase-III, Dared Udhyognagar, Jamnagar, Gujarat, 361009 Email: compliance@krupalumetals.com |
| Who is the Registrar to the IPO? Cameo Corporate Services ltd https://ipo.cameoindia.com/ |
Krupalu Metals Financials Snapshot
| Period Ended | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
| Assets | 20.03 | 19.46 | 15.25 |
| Total Income | 48.5 | 37.12 | 33.58 |
| Profit After Tax | 2.15 | 1.55 | 0.42 |
| EBITDA | 3.7 | 2.57 | 1.08 |
| Net Worth | 6.12 | 4.06 | 2.56 |
| Reserves and Surplus | 2.12 | 1.66 | 0.16 |
| Total Borrowing | 8.37 | 9.57 | 7.44 |
| Amount in Rs. Crore | |||
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Performance Indicators
| KPI | Values |
| ROCE | 48.45% |
| Debt/Equity | 1.37 |
| RoNW | 35.12% |
| PAT Margin | 4.45% |
| EBITDA Margin | 7.65% |
| Price to Book Value | 7.09 |
| EPS | 5.38 |
| PER | 13.39 |
How Krupalu Metals IPO compares with the Peers?
| Company Name | P/EÂ (x) | RoNWÂ (%) |
| Krupalu Metals Limited | 13.39 | 35.12 |
| Sprayking Limited | 5.33 | 7.45 |
| Poojawestern Metaliks | 18.3 | 11.46 |
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Krupalu Metals IPO Review
 by Paresh Gordhandas, CA & Research Analyst
For FY 2024-25, Krupalu Metals Limited reported a Total Income of Rs. 48.50 crore, up from Rs. 37.12 crore in FY 2023-24 and Rs. 33.58 crore in FY 2022-23, showing steady revenue growth. Profit After Tax improved to Rs. 2.15 crore in FY 2024-25 compared to Rs. 1.55 crore in FY 2023-24 and Rs. 0.42 crore in FY 2022-23. EBITDA also grew to Rs. 3.70 crore in FY 2024-25 from Rs. 2.57 crore in the previous year.
The company’s Net Worth increased to Rs. 6.12 crore as on March 31, 2025, against Rs. 4.06 crore a year earlier, supported by growing reserves. Borrowings stood at Rs. 8.37 crore, lower than Rs. 9.57 crore in FY 2023-24.
A notable point is that compared to its average monthly revenue of Rs. 4.03 crore, the company is carrying inventory worth Rs. 14.40 crore, which appears relatively high.
During earlier years, the cost of material consumed was 94.96% of revenue, while in FY 2024-25 it has declined to 90.55%. This improvement has aided profitability. However, if the company fails to maintain such lower material costs in the future, margins could come under pressure.
Chanakya’s Verdict
Krupalu Metals has demonstrated consistent growth in revenue and profitability over the last three years, with improved EBITDA margins and strengthening net worth. Its focus on brass and copper products, supported by a well-equipped Jamnagar facility, gives it a niche positioning. However, high inventory levels compared to monthly sales, coupled with dependence on maintaining lower raw material costs, pose risks to sustainability of margins. Investors must weigh the growth potential against these risks before taking exposure in this SME IPO.
The IPO is a fixed price issue of Rs. 13.48 crore, comprising a fresh issue of 19 lakh equity shares.
The IPO opens on August 8, 2025, and closes on August 12, 2025.
The issue price is Rs. 72 per share, with a lot size of 1,600 shares. Minimum investment is Rs. 2,30,400 for retail investors.
For FY 2024-25, the company reported Total Income of Rs. 48.50 crore and PAT of Rs. 2.15 crore. Net worth stood at Rs. 6.12 crore with borrowings of Rs. 8.37 crore.
High inventory levels and the risk of rising material costs could put pressure on profitability in the future.
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