In the retail segment, the issue saw a subscription of 1.79 times, whereas the non-institutional investors category recorded a subscription rate of 1.34 times as bidding wrapped up.
Super Iron Foundry GMP on Day 3
Prior to listing, the company’s shares were trading at a GMP of Rs 15 in the unlisted market on Thursday, reflecting a premium of 14% above the upper limit of the IPO price band at Rs 108.
Use of IPO Proceeds
The proceeds from Super Iron Foundry’s IPO are intended to meet working capital needs, repay or prepay certain obligations, and support general corporate purposes.
Super Iron Foundry IPO Price Band
The IPO has been set at Rs 108 per share, with investors eligible to bid for a minimum of 1,200 shares per lot.
About Super Iron Foundry
Founded in July 1988, Super Iron Foundry Limited specializes in the production of municipal castings, ductile iron pipe fittings, automotive castings, agricultural castings, railway castings, and cast-iron counterweights. Its offerings are essential for key construction projects, providing access covers for stormwater management, sewerage systems, telecommunications, and various utility networks.
Super Iron Foundry Financial Overview
For the nine months ending in FY25, operations generated revenues of Rs 45 crore. The revenue figures for FY24, FY23, and FY22 were Rs 68 crore, Rs 55.32 crore, and Rs 78.56 crore, respectively.
The nine-month EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) was recorded at Rs 23.74 crore, while for FY24, FY23, and FY22, EBITDA amounts were Rs 18.34 crore, Rs 13.44 crore, and Rs 10.73 crore, respectively.
As of December 31, 2024, the company’s debt-to-equity ratio stood at 4.48, a decline from 6.26 in FY24, 8.65 in FY23, and 11.36 in FY22.
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