Classic Electrodes (India) Ltd, a manufacturer specializing in welding electrodes and MIG wires, has set the price band for its upcoming initial public offering (IPO) at Rs 82–87 per share, according to a statement on Monday. The entirely fresh issue of 47.71 lakh equity shares is expected to raise around Rs 41.50 crore.
The IPO subscription window is scheduled to open on August 22 and close on August 26, 2025. Following the issue, the company’s shares are planned to be listed on NSE’s SME platform, Emerge, with a tentative listing date of September 1.
GYR Capital Advisors has been appointed as the sole book-running lead manager, while MUFG Intime India will serve as the registrar for the issue.
Proceeds from the IPO are intended for capital expenditure on plant and machinery, repayment of certain borrowings, and funding working capital requirements.
Classic Electrodes operates two manufacturing plants, one in West Bengal and another in Haryana, with a combined annual installed capacity of 10,608 metric tonnes of electrodes and 8,600 metric tonnes of MIG wires.
For the 11 months ended February 28, 2025, the company reported revenue of Rs 187.60 crore and a net profit of Rs 9.51 crore. In FY24, it recorded revenue of Rs 194.40 crore with a profit after tax of Rs 12.29 crore.
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