Shri Hare-Krishna Sponge Iron Ltd IPO
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Shri Hare-Krishna Sponge Iron Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 50.7 L | TBA | TBA | ₹ 141.21 L | NSE | ₹ 29.91 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 24 Jun, 25 | 26 Jun, 25 | 2000 | ₹ 1,12,000 | Book Building - SME | 01 Jul, 25 |
Shri Hare-Krishna Sponge Iron Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Steel - Sponge Iron |
| Sub Sector | NA |
| Issue Type | Book Building - SME |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 0x | 0 | 0 |
| NII | 0x | 0 | 0 |
| Retail | 0x | 0 | 0 |
| Employee | 0x | 0 | 0 |
| Total | 0x | 5070000 | 0 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Shri Hare-Krishna Sponge Iron Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 14.68 | 14.86 | 12.83 |
| EBITDA | 15.67 | 15.47 | 13.48 |
| PAT | 10.17 | 10.53 | 8.94 |
| Total Assets | 59.07 | 40.24 | 41.94 |
| Share Capital | 14.12 | 14.12 | 14.12 |
| Total Borrowings | 15.84 | 4.32 | 12.16 |
| Operating Activities (Net Cash) | 11.16 | 11.14 | 9.59 |
| Investing Activities (Net Cash) | 1.14 | 1.99 | 1.25 |
| Financing Activities (Net Cash) | 15.84 | 4.32 | 12.16 |
| Net Cashflow | 39.00 | 27.33 | 17.16 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Shri Hare-Krishna Sponge Iron Ltd
Our Company was originally incorporated as private limited company under the name of Shri Hare-Krishna Sponge Iron Private Limited on May 02, 2003 under the provisions of Companies Act, 1956 with the Registrar of Companies, West Bengal, bearing CIN No. U27109WB2003PTC096152. Further, the name of our company was changed from Shri Hare-Krishna Sponge Iron Private Limited to Shri Hare-Krishna Sponge Iron Limited pursuant to a fresh certificate of incorporation issued by the Registrar of Companies, West Bengal on June 20, 2007 bearing CIN U27109WB2003PLC096152.
India's iron ore production is estimated to stand at 257.85 MT in FY23, while it stood at 253.97 MT in FY22 - a sharp increase of 23% compared with 205.04 MT in FY21. In 2022-23, exports of iron ore stood at US$ 1.75 billion as compared to US$ 3.18 billion in 2021- 22. In FY24 (until January 2024), the production of crude steel and finished steel stood at 118 MT and 114 MT respectively. In FY23, India produced about 193.16 MT of crude steel, while finished steel production stood at 89.55 MT. In April 2024, crude steel production in India stood at 11.9 MT. In April 2024, finished steel production stood at 11.2 MT. Steel Authority of India Limited (SAIL), achieved the best-ever annual production during the financial year 2022-23. The company recorded 18.289 million tonnes (MT) of crude steel production with a growth of 5.3% over the previous best. In FY24, SAIL's crude steel production stood at 19.23 MT and saleable steel production was 18.4 MT. Moreover, capacity increased to 142.2 million tonnes (MT) in FY20, and the figure is anticipated to rise to 300 MT by 2030-31.
Our Company is primarily engaged in the business of manufacturing and selling of Sponge Iron. Sponge Iron is mainly used as a raw material for steel production in electric arc furnaces and induction furnaces. Through our sponge iron business, we cater to the metallic requirements of steel producers in selected geographies. Our manufacturing facility is located in Siltara - Raipur, Chhattisgarh and is spread across an area of around 13.45 acres of land with an annual production capacity of 30,000 metric tonnes.
Peer Comparison:
- Shri Hare-Krishna Sponge Iron Limited
- Vraj Iron and Steel Limited
- Chaman Metallics Limited
Shri Hare-Krishna Sponge Iron Ltd IPO Key Points
Strengths
- In-house manufacturing facility.
- Stringent quality control mechanism ensuring standardized product quality.
- Long standing relationship with our customers.
- Well qualified and Experienced Management Team.
Risk
- The viability of our business operations for the Steel Division is dependent on cost of power and fuel, any volatility in energy prices may result into financial stress on the viability of the Steel operations which may lead to temporary shutdown of the plant, which had an affect our revenue and financial strength in the past and could effect the future too.
- Substantial portion of our revenues has been dependent upon few customers, with which we do not have any firm commitments. The loss of any one or more of our major customer would have a material adverse effect on our business, cash flows, results of operations and financial condition.
- In the past, our Company contravened certain provisions of the SEBI Act and Regulations, for which SEBI imposed a penalty amounting to Rs. 2,40,000/- on our Company. This penalty was imposed under Section 15HA of the SEBI Act, 1992, for alleged violations in relation to trading activities in the Stock Options Segment of the Bombay Stock Exchange (BSE) during the period from April 1, 2014, to September 30, 2015.
Strategy
- Continue to invest in our technological capabilities.
- Enhancing Brand image and meeting quality standards.
- Continue to strive for cost efficiency.
- Focus on consistently meeting quality standards.
- Maintaining cordial relationships with our Suppliers, Customers and Employees.
- In-house manufacturing facility.
- Stringent quality control mechanism ensuring standardized product quality.
- Long standing relationship with our customers.
- Well qualified and Experienced Management Team.
How To Apply for Shri Hare-Krishna Sponge Iron Ltd IPO Online?
Step 1:
Log in to the BlinkX stock market app and click ‘IPO’ in the Xplore section.
Step 2:
From the list of open IPOs, select the IPO you want to invest.
Step 3:
Go through the IPO details like lot size, price band, about the company, etc.
Step 4:
Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.
