The company has fixed a price band of Rs 82–87 per share, with a lot size of 3,200 shares for retail investors.
On August 21, Classic Electrodes raised Rs 11.69 crore from anchor investors, allotting 13.44 lakh shares ahead of the IPO. The shares are set to list on the NSE SME platform on September 1.
Company background
Founded in 1997, Classic Electrodes is a well-known player in the welding consumables space. Its product portfolio includes mild steel electrodes, stainless steel electrodes, cast iron electrodes, deep penetration electrodes, and MIG wires, catering to diverse industrial needs.
The company operates two manufacturing units in Dhulagarh (West Bengal) and Jhajjar (Haryana), while a third unit in Bahadurgarh (Haryana) was shut in FY24. With 95 permanent employees, Classic Electrodes serves both domestic and select international markets, focusing on industrial clients and distributors.
Financials
For the 11 months ending February 2025, the company reported revenue of Rs 188 crore and a net profit of Rs 9.6 crore.
Objects of the issue
The IPO proceeds will be utilised for funding purchase of new plant and machinery (Rs 10 crore), repayment of certain borrowings (Rs 10 crore) and working capital requirements (Rs 16.6 crore)
Analysts will be watching the subscription trends over the next two days for determining listing prospects.
