Shri Hare-Krishna Sponge Iron Ltd. Announces IPO on NSE Emerge

Shri Hare-Krishna Sponge Iron Limited, a notable player in the sponge iron manufacturing sector, has unveiled plans to launch its Initial Public Offering (IPO) on the NSE Emerge platform. The planned issuance, scheduled to kick off on June 24, 2025, seeks to streamline resources for expanded operational endeavors.

The IPO is slated to close by June 26, 2025, offering a price range of ₹56 to ₹59 per equity share, each having a nominal face value of ₹10. The offering encompasses a fresh issuance of 50,70,000 shares, aiming to accrue ₹29.91 crore at its upper price limit, under the stewardship of Hem Securities Limited with KFin Technologies Limited acting as the registrar.

Allotment caters to diverse investor categories: 24,02,000 shares earmarked for Qualified Institutional Buyers (QIB), 7,24,000 for Non-Institutional Investors (NII), 16,86,000 for Retail Individual Investors (RII), and 2,58,000 set aside for Market Makers. The proceeds are designated for the setup of a captive power plant and general corporate purposes.

(With inputs from agencies.)