Should You Subscribe? Shri Hare-Krishna Sponge Iron IPO Opens for Bids

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The Shri Hare-Krishna Sponge Iron IPO is now open for subscription, and if you’re considering putting your money in, here’s a quick, no-nonsense look at the important details.

Key Highlights:

The IPO runs from June 24 to June 26, 2025. It’s a fresh issue of 50.7 lakh shares, aiming to raise about ₹29.9 crore.
The price band is ₹56 to ₹59 per share, and you’ll need to apply for at least one lot of 2,000 shares. That means the minimum investment is ₹1,18,000, so this isn’t exactly a small-ticket IPO.
Shri Hare-Krishna Sponge Iron is based in Raipur and has been around since 2003. They make sponge iron, which is a key ingredient for steel makers. Their plant can produce 30,000 metric tonnes a year.
The money raised will go mainly toward building a captive power plant at their facility, plus some general corporate uses.

Financially, the company reported revenue of around ₹80-83 crore in FY25, with a profit after tax of ₹9.2 crore. However, profits are down about 10% from last year. Margins and returns are decent, but not spectacular.

After the IPO, the promoters’ stake will drop from 100% to about 74%.

Allotment is expected on June 27, and the shares should list on the NSE SME platform by July 1.

Source: Economic Times, Business Standard, Moneycontrol, IPOPremium, Zerodha, Value Research Online