BSE SME Super Iron Foundry slides on listing day

The scrip was listed at 107.95, a discount of 0.05% compared with the initial public offer (IPO) price. The stock was currently frozen at its lower limit of 5% over its listing price.

The counter hit a high of Rs 107.95 and a low of Rs 102.60. About 22.10 lakh shares of the company changed hands at the counter.

Super Iron Foundry's IPO was subscribed 1.53 times. The issue opened for bidding on 11 March 2025 and it closed on 13 March 2025. The issue price of the IPO was set at Rs 108 per share.

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

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 manufactures and exports a diverse range of castings, including essential access covers and gully grates for roadway construction, meeting international standards like EN124. It also produces specialized castings for automotive, agricultural, railway, and other industries where weight balancing and stability are critical. 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.