The issue opened for bidding on Tuesday (11 March 2025) and it will close on Thursday (13 March 2025). The issue price of the IPO is fixed at Rs 108 per share. The minimum order quantity is 1,200 equity shares. The equity shares will list on BSE’s SME platform.

The IPO comprises fresh issue of 63,01,200 equity shares. The promoter and promoter group shareholding will dilute to 70.53% from 96.53% pre-issue.

About 3,15,600 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 59,85,600 equity shares. The issue and the net issue will constitute 26.94% and 25.59% respectively of the post issue paid up equity share capital of the company.

The company intends to utilize the net proceeds to meet funding of the working capital requirements, repayment/pre-payment, in full or in part, of certain borrowings availed by the company and general corporate purposes.

Super Iron Foundry is engaged in the casting and manufacturing of access covers and gully grates used in roadway construction. It is noted that the company’s products are essential for major construction projects, providing covers for stormwater, sewerage, telecom, and other utility networks. The company manufactures and exports these products globally, ensuring that they meet international standards such as EN124.

The company produces a wide range of products, including municipal castings, ductile iron pipe fittings, automotive castings, agricultural castings (such as rollers and cross skills), railway castings, and cast-iron counterweights. It is mentioned that municipal castings are primarily used in roadway construction, while the other product categories are used in industries like automotive and agriculture, where weight balancing and stability are crucial. As on 31 December 2024, the company had 189 employees on payroll.

The company recorded revenue from operations of Rs 87.19 crore and net profit of Rs 9.52 crore for the period as of 31 December 2024.