₹1,27,200 / 800 shares
Karbonsteel Engineering IPO Details
RHP/DRHPIssue Date
09 Sep - 11 Sep'25
Investment/lot
₹1,27,200
Price Range
₹151 - ₹159
Lot Size
800
IPO Size
₹42.43 Cr
IPO Listing Details
Listing On
16 Sep'25
Issue Price
₹159
Listed Price
₹ 185.1
Retail Gain/Listing Gain
▲16.42%
Schedule of Karbonsteel Engineering
Start date
09/09/2025
End date
11/09/2025
Allotment of bids
12/09/2025
Refund Initiation
Listing on exchange
16/09/2025
Karbonsteel Engineering IPO Subscription Status
(Last updated on 11 Sep 2025 04:45 PM)
| Day | Total | QIB | Retail | NII |
|---|---|---|---|---|
Day 1 09-Sep-2025 | 0.88x | 0.28x | 0.69x | 2.42x |
Day 2 10-Sep-2025 | 3.28x | 4.11x | 2.48x | 5.18x |
Day 3 11-Sep-2025 | 71.09x | 121.61x | 46.47x | 86.33x |
Subscription Rate
| Category | Subscription Rate |
|---|---|
Non-Institutional (HNI) | 86.33x |
Qualified Institutions | 121.61x |
Retail | 46.47x |
Total Subscription | 71.09x |
Karbonsteel Engineering IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
HNI (Min) | 2 | 1600 | ₹2,54,400 |
About Karbonsteel Engineering IPO
A 100% book-built issue, the IPO of Karbonsteel Engineering Ltd comprises a fresh issue of up to 30,39,600 equity shares. It also has an offer for sale of up to 6,90,000 equity shares. The price band is ₹151-₹159 per share and the lot size is 800. The IPO opens on September 8, 2025 and closes on September 10, 2025.
The listing date is on September 15, 2025 and the allotment date is on September 11, 2025. The credit of shares to the Demat account will take place on September 12, 2025, while the initiation of refund will take place on September 12, 2025.
Karbonsteel Engineering Ltd is a structural engineering and fabrication company engaged primarily in the design, fabrication and assembly of heavy and precision steel structures, customised to meet clients’ requirements across various industrial and infrastructure segments.
Objectives of Karbonsteel Engineering IPO
The company proposes to utilise the IPO proceeds for:
- Funding of capital expenditure towards expansion of existing Umbergaon facility through construction of new sheds
- Repayment of a portion of certain borrowings availed by the company
- Meeting working capital requirements
- General corporate purposes
Karbonsteel Engineering IPO Valuation
| Detail | Information |
|---|---|
Upper Price Band | ₹159 |
Fresh Issue | Up to 30,39,600 equity shares |
Offer for Sale | Up to 6,90,000 equity shares |
EPS in ₹ for FY 25 | 12.78 |
Karbonsteel Engineering IPO Lot Size
| Application | Lots | Shares | Amount in INR |
|---|---|---|---|
Individual Investors Retail (Min) | 2 | 1600 | 2,54,400 |
Individual Investors Retail (Max) | 2 | 1600 | 2,54,400 |
S-HNI (Min) | 3 | 2400 | 3,81,600 |
S-HNI (Max) | 7 | 5600 | 8,90,400 |
B-HNI (Min) | 8 | 6400 | 10,17,600 |
Karbonsteel Engineering IPO Share Offer and Subscription Offer
| Investor Category | Shares Offered |
|---|---|
Market Maker | 5.04% of the offer size |
QIBs | Not more than 50% of the net offer |
Non-institutional Bidders | Not less than 15% of the net offer |
Individual Investors | Not less than 35% of the net offer |
Industry Outlook
Structural steel is a high-performance construction material specifically designed for use in the construction of buildings, bridges, and various other infrastructure projects where a high strength-to-weight ratio is desired. It’s renowned for its strength-to-weight ratio, making it both strong and lightweight, a crucial characteristic for supporting large structures with minimal material use.
It also exhibits excellent ductility, which allows it to bend and deform under stress without breaking, making it capable of withstanding bending, stretching, and other dynamic forces during construction and use.
The structural steel industry in India is a crucial part of infrastructure and industrial development. As urbanisation, industrialisation, and technological advancements progress, the demand for high-performance structural steel continues to grow. India, the second-largest crude steel producer, has also been a key player in the global steel market.
The country leverages its rich iron ore reserves and supportive government initiatives, such as the National Steel Policy 2017, to enhance its production capabilities. India’s crude steel production capacity has increased from 142.3 Mn tonnes in FY 2020 to 179.5 Mn Tonnes in FY 2024 (provision as per Ministry of Steel), registering a compounded annual growth of 6%.
Company Information
Karbonsteel Engineering Ltd is a structural engineering and fabrication company engaged primarily in the design, fabrication and assembly of heavy and precision steel structures, customized to meet clients’ requirements across various industrial and infrastructure segments. It has delivered structural engineering and fabrication solutions in diverse sectors including steel plants, railway bridges, oil & gas plants, refineries, chemical plants and other industrial units.
Its fabricated structures form an integral part of the construction, expansion or modernisation of industrial and infrastructure projects, including industrial plants, high rise buildings, railway bridges and other large-scale developments.
Strengths of Karbonsteel Engineering IPO
- 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
Risks of Karbonsteel Engineering IPO
- Loss of key customers may have adverse effect on business
- Delay in project execution and cost overrun may adversely impact business
- Slowdown in industrial and infrastructural sectors may negatively impact business
- Failure to comply with stringent quality standards may affect result of operations
- Lack of long-term agreements with suppliers may adversely affect business
All Financial Information about Karbonsteel Engineering IPO
Comparison with peers
| Company | Total Revenue (in ₹ crores) | EPS in ₹ | Return on Net Worth (in %) |
|---|---|---|---|
Karbonsteel Engineering Ltd | 273.0535 | 12.78 | 23.45 |
Atmastco Ltd | 289.5704 | 7.80 | 15.15 |
Goodluck India Ltd | 3935.8906 | 50.66 | 12.63 |
Anchor Investor Bidding Date
Anchor portion of the IPO will open for bidding on September 4, 2025.
IPO Registrar and Book Running Lead Manager
- IPO Registrar: Maashitla Securities Private Ltd
- Book Running Lead Manager: Seren Capital Private Limited
Business Model
Karbonsteel Engineering Ltd is a structural engineering and fabrication company engaged primarily in the design, fabrication and assembly of heavy and precision steel structures, customised to meet clients’ requirements across various industrial and infrastructure segments. Its structural engineering and fabrication solutions can broadly be classified into four verticals:
- Heavy Steel Fabricated Structures
- Precision Fabricated Steel Structures or Technological Structures
- Steel Bridge Structures for High-Speed Rail Projects
- Pre-Engineered Buildings
Company Growth Trajectory
The revenue from operations of Karbonsteel Engineering Ltd grew from ₹155.5803 crores in FY 23 to ₹273.0535 crores in FY 25, while EBITDA margin grew from 10.43% in FY 23 to 13.41% in FY 25. The company’s PAT margin grew from 3.28% in FY 23 to 5.19% in FY 25. Capabilities to execute large-scale industrial and infrastructure projects coupled with strong order book has helped the company grow over the years.
Market Position
Karbonsteel Engineering Ltd operates through two manufacturing facilities located at (i) Umbergaon, District Valsad, Gujarat and (ii) Khopoli, District Raigad, Maharashtra, with a combined installed fabrication capacity of 36,000 MT p.a. Some of its esteemed customers include Arcelor Mittal Nippon Steel India Limited, Tata Projects Limited, John Cockerill India Limited, Ray Engineering Pvt Ltd, JSW Severfield Structures Ltd and Panametrics Engineering Pvt Ltd.
Karbonsteel Engineering IPO Profit and Loss
| Parameter | FY25 | FY24 | FY23 |
|---|---|---|---|
Total Income (in ₹crores) | 273.9081 | 218.7730 | 155.8879 |
Profit / (Loss) Before Tax (in ₹crores) | 19.1110 | 12.6902 | 6.8092 |
EBITDA (in ₹crores) | 36.6093 | 25.7880 | 16.2217 |
Profit After Tax (in ₹crores) | 14.1593 | 9.4249 | 5.1070 |
EPS in ₹ | 12.78 | 9.42 | 5.11 |
Karbonsteel Engineering IPO Balance Sheet
| Parameter | FY25 | FY24 | FY23 |
|---|---|---|---|
Profit / (Loss) Before Tax (in ₹crores) | 19.1110 | 12.6902 | 6.8092 |
Net Cash Flow from Operating Activities (in ₹crores) | 4.6832 | 6.3944 | 13.4616 |
Net Cash Flow from Investing Activities (in ₹crores) | (9.4506) | (16.1918) | (4.8855) |
Net Cash Flow from Financing Activities (in ₹crores) | 5.8732 | 5.7735 | (0.2030) |
Cash and Cash Equivalents at the End of the Year (in ₹ crores) | 10.5116 | 9.4057 | 13.4296 |
How to Check Allotment Status of Karbonsteel Engineering IPO?
1. Visit the Registrar’s Website
- Go to the official website of Maashitla Securities Pvt Ltd
- Choose ‘Public’ Issues from ‘Allotment Status’
- Select Company Name and enter either your PAN No, Application No or Demat Account No
- Click on ‘Submit’ to know the status
2. Check on the Bombay Stock Exchange Website
The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to the BSE website and find the 'Investor Services' tab. Under 'Investors Services', click on 'Status of Issue Application'. This will take you to the IPO allotment status page. On the BSE IPO page, follow these steps:
- Choose the Issue Type
- Select the Issue Name from dropdown
- Put in either your application number or PAN number
- Check the box ‘I’m not a robot’
- Click on ‘Search’ to know allotment status
How to Apply for Karbonsteel Engineering IPO?
- Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
- Specify IPO details - Enter the number of lots and the price you wish to apply for.
- Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
- Mandate Notification - Your UPI app will receive a mandate notification to block funds.
- Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
Karbonsteel Engineering IPO FAQs
When is Karbonsteel Engineering IPO allotment?
Karbonsteel Engineering IPO will be allotted on 2025-09-12.
When is Karbonsteel Engineering IPO listing date?
Karbonsteel Engineering will list on 2025-09-16.
What is the issue size of Karbonsteel Engineering IPO?
42.43 is the issue size of Karbonsteel Engineering IPO.
What is the minimum lot size required for Karbonsteel Engineering IPO?
The minimum lot size is 800 shares and the investment required is ₹127200.
What is the price band of the Karbonsteel Engineering IPO?
The price band of Karbonsteel Engineering IPO is ₹151 to ₹159.
Where can I read more about Karbonsteel Engineering business?
You can read more about Karbonsteel Engineering and its IPO from the company’s red herring prospectus (RHP) here.
What is the Karbonsteel Engineering Ltd IPO?
The IPO of Karbonsteel Engineering Ltd consists of a fresh issue of up to 30,39,600 equity shares aggregating up to ₹45.34 crores and an offer for sale of up to 6,90,000 equity shares aggregating up to ₹10.97 crores. The total offer size combines both components and is up to 37,29,600 equity shares aggregating to ₹56.30 crores.
Is the Karbonsteel Engineering IPO coming?
Yes, the IPO of Karbonsteel Engineering Ltd will go live on September 8, 2025
Who is the Chairman and MD of Karbonsteel Engineering Ltd?
Shrenik Kirit Shah is the Chairman and MD of Karbonsteel Engineering Ltd.
What is the lot size of shares of Karbonsteel Engineering Ltd?
800 shares is the lot size of shares of Karbonsteel Engineering Ltd.
From where can I read more about the IPO of Karbonsteel Engineering Ltd?
You may read more about Karbonsteel Engineering Ltd and its IPO from the company’s red herring prospectus (RHP) here.