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Shri Hare Krishna Sponge Iron IPO
Shri Hare-Krishna Sponge Iron Ltd
₹1,12,000 /2000 sharesMinimum Investment
Shri Hare Krishna Sponge Iron IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹59.00 | ₹64.80 | ₹5.80 (9.83%) |
Shri Hare Krishna Sponge Iron IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 24 Jun ‘25 - 26 Jun ‘25 | ₹1,12,000 | 2,000 | ₹56 - ₹59 |
| Issue Size | IPO Doc |
|---|---|
| 29.91Cr | RHP PDF |
Subscription rate
As of 26 Jun'25, 05:00 PM
| Qualified Institutional Buyers | 10.98x |
| Non-Institutional Investor | 10.44x |
| Retail Individual Investor | 2.81x |
| Total | 6.29x |
About Shri Hare Krishna Sponge Iron
Founded in
2003
Managing director
Mr Manoj Parasrampuria
Parent organisation
Shri Hare-Krishna Sponge Iron Ltd
Strengths & Financials of Shri Hare Krishna Sponge Iron
Strengths
Risks
Shri Hare-Krishna Sponge Iron operates its manufacturing facility from Siltara, Raipur, Chhattisgarh, spread over 13.45 acres with an annual production capacity of 30,000 metric tonnes. The company claims this facility is located near sources of key raw materials such as coal, iron ore, and dolomite, which are locally available in Raipur. The company further claims this proximity enables it to reduce logistics costs and improve cost efficiency in raw material procurement.
The company claims to have an in-house testing laboratory at its Raipur facility equipped with instruments like barometers, combustion furnaces, muffle furnaces, and other tools for quality checks. It also claims to employ a stringent quality control mechanism at various stages of production to ensure raw material suitability and product consistency.
Shri Hare-Krishna Sponge Iron supplies its products primarily to steel manufacturers in Maharashtra, Madhya Pradesh, and Chhattisgarh. While it does not rely on long-term contracts, the company claims to have developed longstanding relationships with several repeat customers. The company further claims these relationships have contributed to sustained demand and stable sales over the years.
The company has received ISO 9001:2015 certification for its quality management systems, ISO 14001:2015 certification for its environmental management systems, and ISO 45001:2018 certification for its occupational health and safety management systems.
The company has witnessed a consistent decline in revenue from operations and profit after tax (PAT). Revenue from operations decreased from Rs 94.25 crore in FY23 to Rs 82.27 crore in FY24 and Rs 80.47 crore in FY25. PAT decreased from Rs 10.52 crore in FY23 to Rs 10.17 crore in FY24 and Rs 9.20 crore in FY25.
The top five customers accounted for 70.22 percent, 76.25 percent, and 61.51 percent of the company’s revenue in FY25, FY24, and FY23, respectively. 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 accounted for Rs 62.28 crore (77.39 percent) of the company’s revenue in FY25, Rs 61.16 crore (74.34 percent) in FY24, and Rs 72.47 crore (76.89 percent) in FY23. Any volatility in the pricing of these raw materials could have an adverse impact on the company’s business, financial condition and results of operations.
A significant portion of the company’s revenue is derived from Chhattisgarh. It accounted for Rs 48.84 crore (60.70 percent) of the company’s revenue in FY25, Rs 69.60 crore (84.61 percent) in FY24, and Rs 62.21 crore (66.00 percent) in FY23. Any business or economic disruption in this region could severely impact the company’s revenue and results of operations.
A significant portion of the company’s revenue is derived from the sponge iron business segment. It accounted for 95.67 percent, 96.53 percent, and 96.51 percent of the company’s revenue in FY25, FY24, and FY23, respectively. Any reduction in the demand for products in this segment or increased competition from regional and national players could adversely affect the company’s revenue from operations and growth prospects.
The company, its directors, and promoters are involved in certain ongoing legal proceedings. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
As of FY25, the company had contingent liabilities amounting to Rs 7.27 crore, a sharp increase from Rs 3.36 crore in FY24 and Rs 0.86 crore in FY23. If any of these contingent liabilities materialise, it could adversely affect the company’s financial condition.
As of FY25, the company had outstanding financial indebtedness amounting to Rs 18.66 crore. Any failure to service or repay these loans can harm the company’s operations and financial position.
Shri Hare Krishna Sponge Iron Financials
*All values are in Rs. Cr
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Application Details of Shri Hare Krishna Sponge Iron IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Regular | ₹56 - 59 | ₹2 - 5 Lakh |
| High Networth Individual | ₹56 - 59 | ₹2 - 5 Lakh |
For Shri Hare Krishna Sponge Iron IPO, eligible investors can apply as Regular.