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Karbonsteel Engineering IPO Details

Bookbuilding IPO | ₹59 Cr | Listed at BSE SME | Tue, Sep 9, 2025 - Thu, Sep 11, 2025

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Karbonsteel Engineering IPO Logo

Karbonsteel Engineering IPO is a book build issue of ₹59.30 crores. The issue is a combination of fresh issue of 0.30 crore shares aggregating to ₹48.33 crores and offer for sale of 0.07 crore shares aggregating to ₹10.97 crores.

Karbonsteel Engineering IPO bidding started from Sep 9, 2025 and ended on Sep 11, 2025. The allotment for Karbonsteel Engineering IPO was finalized on Sep 12, 2025. The shares got listed on BSE SME on Sep 16, 2025.

Karbonsteel Engineering IPO price band is set at ₹159 per share. The lot size for an application is 800. The minimum amount of investment required by an individual investor (retail) is ₹2,54,400 (1,600 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (2,400 shares), amounting to ₹3,81,600.

Seren Capital Pvt.Ltd. is the book running lead manager and Maashitla Securities Pvt.Ltd. is the registrar of the issue. The Market Maker of the company areRikhav Securities Ltd., SS Corporate Securities Ltd..

Refer to Karbonsteel Engineering IPO RHP for detailed Information.

IPO Open

Tue, Sep 9, 2025

IPO Close

Thu, Sep 11, 2025

Issue Price

₹159 per share

Market Cap (Pre-IPO)

₹224.85 Cr

IPO Details

IPO Date9 to 11 Sep, 2025
Listed onTue, Sep 16, 2025
Face Value₹10 per share
Price Band₹151 to ₹159
Issue Price₹159 per share
Lot Size800 Shares
Sale TypeFresh capital cum OFS
Issue TypeBookbuilding IPO
Listing AtBSE SME

Total Issue Size37,29,600 shares
(agg. up to ₹59 Cr)
Reserved for Market Maker
1,88,000 shares
(agg. up to ₹3 Cr)
SS Corporate Securities Ltd.
Rikhav Securities Ltd.
Fresh Issue
(Ex Market Maker)		28,51,600 shares
(agg. up to ₹45 Cr)
Offer for Sale6,90,000 shares of ₹10
(agg. up to ₹11 Cr)
Net Offered to Public35,41,600 shares
(agg. up to ₹56 Cr)
Share Holding Pre Issue1,11,02,222 shares
Share Holding Post Issue1,41,41,822 shares
BSE Script Code 544511
ISININE0V8A01016

IPO Timetable

IPOs Timetable

Issue Reservation

Karbonsteel Engineering IPO comprises a total issue size of 37,29,600 shares. The net offer to the public is 35,41,600 shares, after excluding 1,88,000 shares allotted on a firm basis. Of the Net offer 17,68,800 (49.94%) are allocated to QIB, 5,32,800 (15.04%) allocated to NII 12,40,000 (35.01%) allocated to RII.

Investor Category Shares Offered % of Net Issue% of Total Issue
QIB Shares Offered 17,68,80049.94%47.43%
  − Anchor Investor Shares Offered 10,60,80028.44%
  − QIB (Ex. Anchor) Shares Offered 7,08,00018.98%
NII (HNI) Shares Offered 5,32,80015.04%14.29%
  − bNII > ₹10L 3,55,2009.52%
  − sNII < ₹10L 1,77,6004.76%
Retail Shares Offered 12,40,00035.01%33.25%
Firm Reservations
Market Maker Shares Offered 1,88,0005.04%
Total Shares Offered 37,29,600100.00%100.00%

IPO Lot Size

Investors can bid for a minimum of 1,600 shares and in multiples of 800 shares thereof. 

Application Lots Shares Amount
Individual investors (Retail) (Min) 2 1,600 ₹2,54,400
Individual investors (Retail) (Max) 2 1,600 ₹2,54,400
S-HNI (Min) 3 2,400 ₹3,81,600
S-HNI (Max) 7 5,600 ₹8,90,400
B-HNI (Min) 8 6,400 ₹10,17,600
IPO Subscription Details

IPO Anchor Investors

Karbonsteel Engineering IPO raises ₹16.87 crore from anchor investors. Karbonsteel Engineering IPO Anchor bid date is September 4, 2025.
📝 Anchor Investors Letter (PDF)

Bid DateThu, Sep 4, 2025
Shares Offered10,60,800
Anchor Portion (₹ Cr.)16.87
Anchor lock-in period end date for 50% shares (30 Days)Wed, Oct 15, 2025
Anchor lock-in period end date for remaining shares (90 Days)Mon, Dec 15, 2025
IPO Anchor Investors List

About Karbonsteel Engineering Ltd.

Incorporated in 2011, Karbonsteel Engineering Limited is an engineering solutions provider, specializing in designing, manufacturing, and supplying high-quality products across various industries.

The company provides structural engineering and fabrication solutions for steel plants, railway bridges, oil & gas plants, refineries, and other industries, supporting construction, expansion, and modernization of large-scale projects.

The company operates two manufacturing facilities in Gujarat and Maharashtra, producing heavy steel structures, PEBs, and steel bridges, with a combined capacity of 32,400 MT per year.

Services Offers:
  • Heavy Steel Fabricated Structures: Large steel components supporting heavy loads in industrial and infrastructure projects.
  • Precision Fabricated Steel Structures: Customized steel components requiring high accuracy for industrial and process applications.
  • Steel Bridge Structures: Steel components for constructing railway and road bridges with high load-bearing capacity.
  • Pre-Engineered Buildings (PEBs): Customized steel systems for efficient, cost-effective industrial and commercial building construction.
As of January 31, 2025, the company had a total workforce of 349 employees across locations.
Competitive Strengths:
  • Capabilities to execute large-scale industrial and infrastructure projects
  • Strong Order Book
  • In-House manufacturing and testing capabilities
  • Strong relationship with customers
  • Experienced Promoters with strong management team having domain knowledge

Company Financials (Restated)

Karbonsteel Engineering Ltd.'s revenue increased by 25% and profit after tax (PAT) rose by 50% between the financial year ending with March 31, 2025 and March 31, 2024.

Period Ended31 Mar 202531 Mar 202431 Mar 2023
Assets232.76176.14143.76
Total Income273.91218.77155.89
Profit After Tax14.169.425.11
EBITDA36.6125.7916.22
NET Worth60.3743.8028.74
Reserves and Surplus49.2738.4123.74
Total Borrowing78.5559.8348.52
Amount in ₹ Crore

IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

# Issue Objects Est Amt (₹ Cr.)
1 Funding of capital expenditure towards expansion of existing Umbergaon facility through construction of new sheds 12.29
2 Repayment of a portion of certain borrowings availed by the Company 3.08
3 To meet the Working Capital requirements 25.25
4 General Corporate Purpose 4.30

Key Performance Indicator (KPI)

KPIMar 31, 2025
ROE27.19%
ROCE24.63%
Debt/Equity1.30
RoNW23.45%
PAT Margin5.19%
EBITDA Margin13.41%
Price to Book Value2.92
Check IPO Peer Comparison here.
Pre IPOPost IPO
EPS (₹)12.7510.01
P/E (x)12.4715.88
Promoter Holding72.17%51.78%
Market Cap₹224.85 Cr.
Shrenik Kirit Shah and Mittal Shrenik Shah are the promoters of the company.
  • The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2025 available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2025 available in RHP.

IPO Review

[Dilip Davda]
KEL is engaged in the business of structural engineering and fabrication especially large-scale developments, that is ongoing. The company enjoys niche place in the segment with high margin large structural works. It marked growth in its top and bottom lines for the reported periods. It has Rs. 330 cr. worth orders on hand as of July 31, 2025. Based on its recent financial data, the issue appears fully priced. Investors may park funds for the long term.
Read detail review...

Karbonsteel Engineering IPO Recommendations

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Karbonsteel Engineering IPO Subscription Status (Bidding Detail)

The Karbonsteel Engineering IPO is subscribed 76.59 times on September 11, 2025 5:04:36 PM (Day 3). The public issue subscribed 46.84 times in the individual investors category, 121.61 times in the QIB category, and 85.99 times in the NII category. Check Day by Day Subscription Details (Live Status)

Category Subscription (times) Shares Offered Shares bid for Total Application
QIB (Ex Anchor)121.617,08,0008,60,98,4000
NII*85.995,32,8004,58,15,2000
    bNII (bids above ₹10L)102.583,55,2003,64,37,600
    sNII (bids below ₹10L)52.801,77,60093,77,600
Individual Investors46.8412,40,0005,80,81,6000
Total76.5924,80,80018,99,95,20045,691

Total Application : 45,691

*Market Maker portion is not included to NII/HNI.

IPO Expenses

# Issue Expenses Est Amt (₹ Cr.)
1 Book Running Lead Manger Fees (including underwriting commission and all other fees by whatever name called) 3.50
2 Fees Payable to Registrar to the Issue 0.04
3 Fees Payable for Advertising and Publishing Expenses 0.24
4 Fees Payable to Regulators including Stock Exchanges 0.19
5 Fees Payable to StatutoryAuditor, Legal Advisors and other Professionals 0.15
6 Others (Commission/processing fee for SCSBs, Sponsor Bank and Banker(s) to the Issue and brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs and Miscellaneous Expenses) 0.07

Listing Day Trading Information

Price DetailsBSE SME
Final Issue Price₹159.00
Open₹185.10
Low₹185.10
High₹194.35
Last Trade₹194.35

Check IPO Performance…

IPO Registrar

Maashitla Securities Pvt.Ltd.

Contact Details

Karbonsteel Engineering Ltd. Address
B-8 Ratnadeep Cosmopolitan Chs Ltd,
140-141 S.V. Road, Nr. Shoppers Stop, Andheri (W),
Mumbai, 400058
Mumbai, Maharashtra, 400058
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IPO FAQs

Karbonsteel Engineering IPO is a SME IPO of 37,29,600 equity shares of the face value of ₹10 aggregating up to ₹59 Crores. The issue is priced at ₹159 per share. The minimum order quantity is 800.

The IPO opens on Tue, Sep 9, 2025, and closes on Thu, Sep 11, 2025.

Maashitla Securities Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.

Zerodha customers can apply online in Karbonsteel Engineering IPO using UPI as a payment gateway. Zerodha customers can apply in Karbonsteel Engineering IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Karbonsteel Engineering IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Karbonsteel Engineering IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. Submit IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Karbonsteel Engineering IPO opens on Tue, Sep 9, 2025 and closes on Thu, Sep 11, 2025.

Karbonsteel Engineering IPO lot size is 800, and the minimum amount required for application is ₹2,54,400, with 2 lots being the minimum application size.

You can apply in Karbonsteel Engineering IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.

The finalization of Basis of Allotment for Karbonsteel Engineering IPO will be done on Friday, September 12, 2025, and the allotted shares will be credited to your demat account by Mon, Sep 15, 2025. Check the Karbonsteel Engineering IPO allotment status.

The Karbonsteel Engineering IPO listing date is on Tue, Sep 16, 2025.

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