Super Iron Foundry to raise up to Rs 68.05 cr via IPO opening March 11

Based Super Iron Foundry Ltd, a company specializing in manufacturing and exports of Manhole Covers & Sanitary Castings, is planning to raise up to Rs. 68.05 crore from its SME public issue.

- TBG NETWORK

The company has received approval to launch its public issue on BSE SME Platform. The public issue open for subscription on March 11 and closes on March 13. The Proceeds of the public issue will be used for business expansion, including Funding working capital requirements, Repayment/pre-payment, in full or in part, of certain borrowings availed by the company and general corporate purposes. Horizon Management Private Limited is the lead manager of the issue. Highlights:

* Fresh Public issue of Rs. 68.05 crore opens for subscription from March 11 to March 13

* Minimum lot size for application is 1200 shares; Minimum IPO application amount Rs. 1,29,600

* Funds raised through the issue will be used for working capital requirements, Repayment/prepayment of certain borrowings and general corporate purposes

* For FY23-24, the company reported revenues of Rs. 154.83 crore and Net Profit of Rs.. 3.94 crore; For the nine months of FY25 ended December 2024, the company reported revenue of Rs. 87.19 crore and Net Profit of Rs. 9.52 crore