Karbonsteel Engineering Gears Up for IPO with Rs 17 Crore Anchor Investment

Engineering solutions provider Karbonsteel Engineering has successfully mobilized nearly Rs 17 crore from anchor investors, preparing for its Initial Public Offering (IPO) slated to open on September 8.

Among the investors in this anchor round were Subhkam Ventures I, Vikasa India EIF I Fund, and several others, as mentioned in a circular on the BSE website. Approximately 10.6 lakh equity shares have been allocated to ten entities at a price of Rs 159 per share, totaling a transaction value of Rs 16.86 crore.

The Rs 59.30-crore IPO, set to close on September 11, combines fresh issues of 30.39 lakh shares and an offer for sale of 6.9 lakh shares. The proceeds are earmarked for capital expenditure at the Umbergaon facility, debt repayment, and other corporate purposes. The company's financial performance for FY25 included a revenue of Rs 273.05 crore and a net profit of Rs 14.16 crore, with plans for its shares to be listed on the BSE's SME platform.