June 23, 2025
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What is the last grey market premium of Shri Hare-Krishna Sponge Iron IPO?
Listing Review: Will update on listing.
Subscription status of Shri Hare-Krishna Sponge Iron IPO
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Shri Hare-Krishna Sponge Iron IPO Price Rs. 59 Lot 2000 shares, Rs.28.39 Crore |
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| QIB | NII x | RII x | Total x | Applications |
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AJC Jewel Manufacturers IPO Allotment Link:
What is the business of Shri Hare-Krishna Sponge Iron?
About Shri Hare-Krishna Sponge Iron Limited
Established in May 2003, Shri Hare-Krishna Sponge Iron Limited is a trusted name in the production and supply of high-quality Sponge Iron, a vital raw material in steel manufacturing used in both induction and electric arc furnaces.
Its manufacturing facility is strategically located in Siltara, Raipur (Chhattisgarh), sprawling across 13.45 acres and equipped with an annual production capacity of 30,000 metric tonnes.
The company is proud to uphold the highest standards of quality, environmental care, and workplace safety, with certifications including:
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ISO 9001:2015 – Quality Management
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ISO 14001:2015 – Environmental Management
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ISO 45001:2018 – Occupational Health & Safety Management
Its market reach spans Chhattisgarh, Maharashtra, and Madhya Pradesh, where it continues to serve a strong base of industrial customers with dependable supply and service.
As of April 30, 2025, its team is 92 strong—committed professionals who drive its mission of excellence in every aspect of production and customer service.
Its Core Product:
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Sponge Iron – The essential feedstock for steelmakers, ensuring efficient and high-quality output in modern steel plants.
Get more information about the company @ https://shkraipur.com
Shri Hare-Krishna Sponge Iron IPO Details
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Sector: |
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| IPO opens on | 24 June 2025 |
| IPO closes on | 26 June 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 4812000 Shares / Rs 28.39 Crore |
| * Fresh Issue | 4812000 Shares / Rs 28.39 Crore |
| * Offer for Sale – | – |
| Market Maker Portion | 258,000 Shares |
| Net offer to Public | 4554000 Shares Rs.26.87 Crores |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 56-59 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 2000 Shares |
| Listing will at | NSE SME |
| Category | Shares Offered | % of offer | Rs. In Cr. |
| Market Maker | 258,000 | 5.36% | |
| QIB | 2277,000 | 47.32% | |
| Anchor Investors | 1366,200 | 28.39% | |
| QIB (Ex. Anchor) |
910,800 | 18.93% | 5.37 |
| NII (HNI | 6,83,100 | 14.20% | 4.03 |
| Retail | 1593,900 | 33.12% | 9.40 |
| Total Shares | 4812,000 | 100.00% | |
| RII portion will be oversubscribed by | forms | ||
| Lot | Shares | Amount | |
| RII-Min | 1 | 2000 | 1,18,000 |
| RII-Max | 1 | 2000 | 1,18,000 |
| HNI-Min | 2 | 4000 | 2,58,000 |
Who are the Promoters of Shri Hare-Krishna Sponge Iron?
The promoters of the company are Anita Tradelinks Private Limited, Buxom Trexim Private Limited, Shyam Sunder Parasrampuria, Manoj Parasrampuria and Manish Parasrampuria.
What are the Objects of Shri Hare-Krishna Sponge Iron IPO?
1. Funding of Capital Expenditure requirements of the company towards setup of Captive Power Plant at Siltara – Raipur Rs. 23 Cr.
2. General Corporate Purpose
Tentative timetable |
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| IPO opens on | 24 June 2025 |
| IPO Closes on | 26 June 2025 |
| IPO Allotment on | 27 June 2025 |
| Refund Initiation | 30 June 2025 |
| Credit of Shares | 30 June 2025 |
| Listing on | 1 July 2025 |
| Registered Office of the Company Shri Hare-Krishna Sponge Iron Ltd Flat No 2-D, 2nd Floor, Tower No. 1, Alcove Gloria Municipal Premises No. 403/1, Dakshindari Road, VIP Road,Sreebhumi, Kolkata North 24 Parganas district, West Bengal, 700048 |
| The Lead Manager of this IPO Hem Securities ltd |
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Who is the Registrar to IPO? Kfin Technoliges ltd |
Shri Hare-Krishna Sponge Iron IPO GMP grey market premium, review, Subscription, allotment, listing estimate
Shri Hare-Krishna Sponge Iron Financials
| Period Ended | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
| Assets | 93.16 | 75.74 | 58.58 |
| Revenue | 83.6 | 84.93 | 95.25 |
| Profit After Tax | 9.2 | 10.17 | 10.53 |
| EBITDA | 10.78 | 12.11 | 13.97 |
| Net Worth | 73.59 | 64.39 | 54.22 |
| Reserves and Surplus | 59.47 | 50.27 | 40.1 |
| Total Borrowing | 11.39 | 7.24 | 0.75 |
| Amount in Rs. Crore | |||
Performance Indicators
| KPI | Values |
| ROE | 13.33% |
| ROCE | 14.70% |
| Debt/Equity | 0.15 |
| RoNW | 12.51% |
| PAT Margin | 11.43% |
| EBITDA Margin | 13.40% |
| Price to Book Value | 1.29 |
| EPS Rs. | 6.51 |
| PE Ratio | 9.06 |
How Shri Hare-Krishna Sponge Iron IPO compares with the Peers?
| Company Name | P/E (x) | RoNW (%) |
| Shri Hare-Krishna Sponge Iron | 15.8 | |
| Vraj Iron And Steel | 12.54 | 11.11 |
| Chaman Metallics | 36.05 | 9.83 |
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Shri Hare-Krishna Sponge Iron IPO Review by Paresh Gordhandas, CA & Research Analyst.
Incorporated in May 2003, Shri Hare-Krishna Sponge Iron Limited has established itself as a reliable player in the production and supply of high-quality sponge iron — a crucial raw material used in the steel industry, particularly in induction and electric arc furnaces.
The company’s manufacturing facility is strategically located at Siltara, Raipur (Chhattisgarh), covering 13.45 acres, and has an annual production capacity of 30,000 metric tonnes.
IPO Details:
The company is launching an Initial Public Offering (IPO) with a net issue size of Rs.26.87 crore. A total of 15,93,900 equity shares are earmarked for retail investors.
Financial Performance:
Over the past three financial years, the company has reported the following total income and net profit:
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FY23: Rs.95.25 crore / Rs.10.53 crore
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FY24: Rs.84.93 crore / Rs.10.17 crore
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FY25: Rs.83.60 crore / Rs.9.20 crore
While the profitability has remained stable, the absence of revenue growth over these three years is a notable concern.
Key financial metrics over the same period include:
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Average EPS: ₹6.90
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Average Return on Net Worth (RoNW): 14.76%
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Price-to-Book Value (P/BV): 1.13 (based on NAV of ₹52.11 as of March 31, 2025)
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Price-to-Earnings (P/E) Ratio: 9.06 — considered reasonable within the industry.
Peer Comparison:
According to the Draft Red Herring Prospectus (DRHP), listed peers include Vraj Iron and Chaman Metallics, currently trading at P/E multiples of 12.9 and 39.9, respectively (as of June 20, 2025). However, these companies are not strictly comparable due to operational and scale differences.
Balance Sheet Insights:
As of March 31, 2025, the company reported:
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Debtors: Rs.1.39 crore
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Cash & Bank Balance: Rs.38.86 crore — equivalent to approximately 5.8 months of sales.
This trend of maintaining unusually high cash reserves has persisted over the past three years, raising questions about capital utilization.
Investment Outlook:
Given the stagnant revenue, unusually high cash balances, and lack of investor enthusiasm in the grey market, prospective investors may consider avoiding this IPO at present.
+ from fundamental angle: May avoid
+ from grey market angle: May avoid
Quicklinks
Shri Hare-Krishna Sponge Iron IPO
AJC Jewel Manufacturere
IPO
