NSE SME IPO of Classic Electrodes (India) subscribed 1.78 times

The initial public offer (IPO) of Classic Electrodes (India) received bids for 60,96,000 shares as against 34,27,000 shares on offer, as per NSE data as of 17:00 hours on Friday (22 August 2025). The issue was subscribed 1.78 times. The issue opened for bidding on Friday (22 August 2025) and it will close on Tuesday (26 August 2025). The price of the IPO is fixed between Rs 82 – Rs 87 per share . The minimum order quantity is 1,600 equity shares. The equity shares will list on NSE’s SME platform. The IPO comprises fresh issue of 47,71,200 shares. The promoter shareholding in the company will dilute to 71.77% post- IPO from 97.73% pre-IPO. About 2,78,400 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 44,92,800 equity shares. The issue and the net issue will constitute 26.56% and 25.01% respectively of the post issue paid up equity share capital of the company. The company intends to utilize the net proceeds for capital expenditure to purchase plant and machinery, prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company, working capital requirements and general corporate purposes. Classic Electrodes (India) engaged in the business of manufacturing welding electrodes and providing engineering solutions to customers both in domestic and international market. The company provides a wide range of product offerings including general purpose electrodes, low alloy electrodes, low hydrogen electrodes, stainless steel electrodes, hard facing electrodes, cast iron electrodes, non-ferrous electrodes, low heat input electrodes, cutting and gauging electrodes, Mig wires etc. The firm designs, develops and manufactures complex and specialized industrial equipment and components for OEM’s and end user industries. As of 28 February 2025, the company had 95 employees. Ahead of the IPO, Classic Electrodes (India) on Thursday, 21 August 2025, raised Rs 11.69 crore from anchor investors. The board allotted 13.44 lakh shares at Rs 87 each to 10 anchor investors. The company recorded revenue from operations of Rs 187.60 crore and net profit of Rs 9.57 crore for the period ended 28 February 2025.