Super Iron Foundry IPO subscribed 1.6 times on Day 3: Check GMP, price band and other details

The SME initial public offering (IPO) of Super Iron Foundry, which opened for public bidding on March 11, had an overall subscription of 1.56 times on the final day of bidding on Thursday. The company aims to raise Rs 68 crore through a fresh issue of 63.01 lakh shares, with the issue closing on March 13.

The retail portion of the issue was subscribed by 1.79 times, while the issue was subscribed by 1.34 times in the non-institutional investors category on the final day of bidding.

Super Iron Foundry GMP on Day 3

Ahead of listing, the company's shares were trading with a GMP of Rs 15 in the unlisted market on Thursday, indicating a premium of 14% over the upper end of the IPO price band of Rs 108.

Proceeds from IPO

Super Iron Foundry's IPO aims to utilize the net proceeds for funding working capital requirements, repaying or pre-paying certain borrowings, and covering general corporate purposes.

Super Iron Foundry IPO price band

The company has priced the IPO at Rs 108 per share, where investors can bid for 1,200 shares in one lot.

About Super Iron Foundry

Incorporated in July 1988, Super Iron Foundry Limited specializes in manufacturing municipal castings, ductile iron pipe fittings, automotive castings, agricultural castings, railway castings, and cast-iron counterweights. Its products play a vital role in major construction projects, providing access covers for stormwater, sewerage, telecommunications, and other utility networks.

Super Iron Foundry financials

For the 9-month ended FY25, the revenue from operations stood at Rs 45 crore. For FY24, FY23 and FY22, the topline stood at Rs 68 crore, 55.32 crore and Rs 78.56 crore, respectively.

The 9-month Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) stood at Rs 23.74 crore. For FY24, FY23 and FY22, EBITDA stood at Rs 18.34 crore, Rs 13.44 crore and Rs 10.73 crore, respectively.

Its debt-to-equity ratio as on December 31, 2024 stood at 4.48, down from 6.26 in FY24, 8.65 in FY23 and 11.36 in FY22.

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