Stocks
Invest in Stocks
Invest in stocks, ETFs, IPOs with fast orders. Track returns on your stock holdings and view real-time P&L on your positions.
F&O
Mutual Funds
Invest in Mutual Funds
Invest in direct mutual funds at zero charges via lump sump investments or SIPs
Kasturi Metal IPO
Kasturi Metal Composite Ltd
₹2,44,000 /4000 sharesMinimum investment
IPO listing details
Listed on
3 Feb '26
Issue price
₹64.00
Listing price
₹64.00
Listing gains
₹0.00 (0.00%)
Exchange
--
IPO details
Minimum investment
₹2,44,000
Price range
₹61 - ₹64
Lot size
2,000
Issue size
17.61 Cr
Face value
10
IPO document
Subscription rate
Qualified Institutional Buyers4.00x
Non-Institutional Investor28.95x
Retail Individual Investor15.69x
Total16.17x
As of 29 Jan'26, 05:01 PM
Schedule
27 Jan 2026
IPO open date
29 Jan 2026
IPO close date
30 Jan 2026
Allotment date
30 Jan 2026
Funds unblock or debit
3 Feb 2026
Tentative listing date
About
Founded in
2005
MD/CEO
Mr Samit Surendra Singhai
Parent organisation
Kasturi Metal Composite Ltd
Kasturi Metal Financials
Revenue
Total Assets
Profit
All values are in ₹ Cr
Strengths & Risks
Strengths
Risks
Kasturi Metal Composite operates three dedicated manufacturing units in Maharashtra, each focusing on a distinct production process. The company claims to have equipped these facilities with modern machinery and automation systems to support fine wire drawing, high-performance steel fibre manufacturing, and steel wool fibre production.
The company manufactures a wide range of steel fibre products, catering to fibre-reinforced concrete applications. It also produces steel wool fibres used in friction linings for automotive brake pads and clutches. Through its subsidiary, it claims to offer industrial flooring solutions and Factory Mutual (FM) certified services.
The company claims to have established customer relationships across more than 10 Indian states and four international markets – the US, Bhutan, New Zealand, and Nepal.
The company is ISO 9001:2015 certified for quality management systems and has also received zero effect, zero defect (ZED) silver and bronze certifications for its steel fibres and steel wool fibres.
The company has witnessed a consistent increase in revenue from operations. It increased from Rs 37.12 crore in FY23 to Rs 49.74 crore in FY24 and Rs 56.97 crore in FY25.
The top 10 suppliers contributed Rs 13.42 crore (84.89 percent) of total sales for the period ended September 30, 2025; Rs 24.03 crore (76.79 percent) in FY25; Rs 29.24 crore (90.54 percent) in FY24, and Rs 25.93 crore (99.74 percent) in FY23. Any disruption in supplies from one or more of these suppliers could adversely affect the company’s business and finances.
The top 10 customers of Kasturi Metal Composite contributed Rs 21.14 crore (65.98 percent) to the company’s total sales for the period ended September 30, 2025; Rs 37.15 crore (65.19 percent) in FY25; Rs 34.90 crore (70.16 percent) in FY24, and Rs 30.49 crore (82.14 percent) in FY23. Any failure to retain these key customers, expand the customer base, or a loss of business from these clients can adversely affect the company’s business and financial standing.
The cost of raw materials consumed accounted for 41.08 percent, 52.22 percent, 56.27 percent, and 65.38 percent of revenue from manufacturing activities for the period ended September 30, 2025; FY25; FY24, and FY23. Any increase in raw material prices, supply disruptions, or inability to pass on higher costs could hurt the company’s profitability, cash flows, and financial condition.
The company operates all three of its manufacturing units from a single location at Amravati, Maharashtra. Any disruption in the business environment of this state can adversely impact the company’s operations and financial performance.
The company reported negative cash flow from investing activities, amounting to Rs 5.68 crore (consolidated) for the period ended September 30, 2025; Rs 2.09 crore (consolidated) in FY25; Rs 0.97 crore (standalone) in FY24, and Rs 1.79 crore in FY23. Additionally, negative cash flow from financing activities amounted to Rs 0.11 crore (consolidated) for the period ended September 30, 2025, and Rs 1.50 crore (standalone) in FY24. Any adverse change in the company’s ability to generate sufficient cash flows in the future can adversely affect its growth plans, business, and financial condition.
A significant portion of the company’s revenue is derived from a single product, Duraflex steel fibre. This product accounted for Rs 12.05 crore (37.62 percent) of the company’s total product sold for the period ended September 30, 2025 (consolidated); Rs 23.43 crore (41.13 percent) in FY25 (consolidated); Rs 30.42 crore (61.15 percent) in FY24 (consolidated), and Rs 24.38 crore (65.68 percent) in FY23 (standalone). Any decline in the demand for this product due to competition, pricing pressure, or market shifts may adversely affect the company’s revenue.
As of September 30, 2025, the company had contingent liabilities of Rs 6.84 crore. If any of these contingent liabilities materialise, it could adversely affect the company’s financial position.
Tamil Nadu accounted for Rs 12.23 crore (38.16 percent) of the company’s total revenue for the period ended September 30, 2025; Rs 15.85 crore (27.82 percent) in FY25; Rs 14.16 crore (28.47 percent) in FY24, and Rs 10.51 crore (28.31 percent) in FY23. Any adverse developments in the business environment of this key region could negatively impact the company’s revenue and operations.
The company, its subsidiaries, promoters, and directors are involved in certain ongoing legal proceedings, including direct and indirect tax cases, statutory matters, and other disputes. Any adverse judgment in any of these cases could be detrimental to the company’s business prospects.
As of September 30, 2025, Kasturi Metal Composite had outstanding financial indebtedness of Rs 14.54 crore (consolidated). Any failure to service or repay these loans can hurt the company’s operations and financial position.
Application details
For Kasturi Metal IPO, eligible investors can apply as Individual investor.
| Apply as | Price band | Apply range | Lot size |
|---|---|---|---|
| Individual investor | ₹61 - ₹64 | ₹2 - ₹5 Lakhs | 2000 |