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Subscription status of Super India Foundry IPO

Super Iron Foundry IPO
(Closed on 13 March 2025)

Price Rs. 108 Lot 1200 shares, Rs. 68.05 Crore

QIB NII x RII x Total x Applications
  1.34 1.79 1.56 6,315
Amount wise bids recd. Rs. ? Crore
Note: 

 


 

 

 

What is the business of Super India Foundry?

Super Iron Foundry Limited was incorporated in July 1988 and specializes in the manufacturing of a wide range of castings, including municipal castings, ductile iron pipe fittings, automotive castings, agricultural castings (such as rollers and crosskills), railway castings, and cast-iron counterweights.

The company’s products play a crucial role in major construction projects, providing access covers for stormwater, sewerage, telecommunications, and other utility networks.

Product Range:

  • Municipal Castings
  • Ductile Iron Pipe Fittings
  • Ductile Iron Automotive Castings
  • Ductile Iron Agricultural Castings (rollers and crosskills)
  • Railway Castings
  • Cast Iron Counterweights
  • Screw Piles

Super Iron Foundry manufactures and exports its products globally, adhering to international standards such as EN124. The company’s product applications span automotive and agricultural equipment, focusing on enhancing weight balancing and stability.

Equipped with a modern robotic production facility, Super Iron Foundry ensures consistent quality and sustainable practices, positioning itself as a trusted provider for all casting requirements. The company’s products are exported to European and Middle Eastern markets.

Notable projects include design solutions and castings for prestigious Middle Eastern developments like the New Hamad Port Project, New Turkish Air Base, Oman Airport Expansion, Dubai South, Lusail FIFA Stadium, and Al Barwah in Doha. While business in the Middle East remains steady year-round, construction slows during Ramadan.

The company’s manufacturing facility and warehouse in Durgapur, West Bengal spans 20 acres. It is certified for quality, health, safety, and environmental management under ISO 9001:2015 and ISO 14001:2018, producing ductile and grey iron castings for diverse industries such as municipal, sanitary, automotive, agricultural, railway, and electrical transmission.

Get more information about the company @ www.superironfoundry.com

Super India Foundry IPO Details

IPO opens on  11 March 2025
IPO closes on  13 March 2025
Issue Type Book Built Issue IPO
Issue Size 6301200 Shares /
Rs 68.05 Crore
* Fresh Issue 6301200 Shares /
Rs 68.01 Crore
* Offer for Sale – – shares /
Rs.- crore
Market Maker Portion 315600 Shares
Net offer to Public 5985600 Shares/
Rs 64.64 Crore
Face Value per share Rs. 10
Price Band Rs. 108
Employee discount  Rs. 0 per share
Retail Lot Size  1200 Shares
Listing will at  BSE SME

Shares offered in IPO

  Shares Rs. (Crore)
QIB (0%)
HNI (50%) 2992800 32.32
RII  (50%) 2992800 32.32
Total Shares  5985600 64.64
Retail portion will be
oversubscribed by 
1871
Forms
How much Shares to Apply in this IPO?
Min Retail Application 1600 Shares Rs.144000
Min HNI Application  3200 Shares Rs. 288000

Who are the Promoters of Super India Foundry?

The promoters of the company are Abhishek Saklecha, Akhilesh Saklecha, Neha Saklecha and Priyanka Saklecha.

What are the Objects of Super India Foundry IPO?

The Company proposes to utilize the Net Proceeds from Issue towards funding the following objects:

  1. Funding of working capital requirements of the Company

  2. Repayment/pre-payment, in full or in part, of certain borrowings availed by the Company

  3. General corporate purposes

Tentative timetable

IPO opens on 11 March 2025
IPO Closes on 13 March 2025
IPO Allotment on  17 March 2025
Refund Initiation  18 March 2025
Credit of Shares 18 March 2025
Listing on 19 March 2025
Registered Office of the Company
Aspiration Vintage 12, Pretoria Street,
1st Floor, Suite 1B,
Kolkata – 700 071
Who is the Lead Manager of this IPO?
Horizon Management Private Limited

Who is the Registrar to IPO?

MUFG INTIME INDIA PRIVATE Ltd

Super India Foundry IPO GMP grey market premium, review, Subscription, allotment, listing estimate

Super India Foundry IPO Financial & Analytical Ratios

Year Total
Income
Net
Profit
EPS RoNW
  Rs.in Crore Rs.in Crore Rs. %
2021-22 132.31 0.88
2022-23 126.23 1.28
2023-24 156.87 3.94 2.31 6.97
Book Value of the
Share on 31.03.2024
     
BV of the Share at
cap price after IPO
Rs.      
Offer Price/upper band Rs. 108    

Key Performance
indicators

Price/EPS of 23-24 46.84
Price/BV Ratio 3.15
Debt/Equity Ratio 6.26

How Super India Foundry IPO compares with the Peers?

As per RHP  FV Price to  PE
    Book Value Ratio
Super India Foundry   3.18 46.84
Bhagwati Autocast   2.75 20.40
United Auto Foundry   2.71 79.10
       
       
       

# 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.

Super India Foundry IPO Review by Paresh Gordhandas, CA & Research Analyst.

Super Iron Foundry manufactures and exports its products globally, adhering to international standards such as EN124. The company’s product applications span automotive and agricultural equipment, focusing on enhancing weight balancing and stability.

Equipped with a modern robotic production facility, Super Iron Foundry ensures consistent quality and sustainable practices, positioning itself as a trusted provider for all casting requirements. The company’s products are exported to European and Middle Eastern markets.

The size of the IPO Rs. 64.64 crore is somewhat large and with 1871 applications, the retail portion can get one time subscribed.

The shares are offered at PE multiple of 46.84 which is somewhat on higher side. The company has shown sharp rise in the topline and the bottomline during the last 3 years. The inventory level and the trade receivables appear to be on higher side compared to the total income of the company.

+ from fundamental angle: So-So

+ from grey market angle: so-so

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Super India Foundry IPO

Super India Foundry IPO

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