Kasturi Metal Composite IPO was launched as a Book Built SME public issue by Kasturi Metal Composite Limited. The IPO comprised entirely of a fresh issue of equity shares, allowing the company to raise capital for expanding its manufacturing operations, meeting working capital requirements, and supporting future business growth. Upon completion of the public issue, the company’s equity shares were listed on the BSE SME platform.
Kasturi Metal Composite Limited is engaged in the manufacturing and processing of non-ferrous metal products. The company produces a wide range of copper and copper-alloy products that are supplied to customers operating in electrical, engineering, automotive, infrastructure, and industrial sectors. Its manufacturing operations focus on delivering quality products that meet customer specifications and industry standards.
The company has established manufacturing capabilities supported by modern production facilities and quality control processes. It continuously works towards improving production efficiency, expanding its product portfolio, and strengthening customer relationships across various industries.
India’s non-ferrous metal industry continues to benefit from increasing investments in infrastructure, power, electrical equipment, transportation, renewable energy, and industrial manufacturing. Growing demand for copper-based products across these sectors is expected to create favourable long-term opportunities for companies operating in this industry.
Although the IPO has been completed and the shares are listed, investors should carefully evaluate the company’s financial performance, valuation, business model, competitive position, and future growth prospects before making any investment decision.
Kasturi Metal Composite IPO Details
| IPO Details | Information |
|---|---|
| IPO Name | Kasturi Metal Composite IPO |
| Company Name | Kasturi Metal Composite Limited |
| IPO Type | Book Built Issue |
| IPO Category | SME IPO |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹61 to ₹64 Per Share |
| Issue Size | ₹17.61 Crore |
| Fresh Issue | ₹17.61 Crore |
| Offer for Sale | Nil |
| Fresh Issue Shares | 27,52,000 Equity Shares |
| IPO Open Date | 27 January 2026 |
| IPO Close Date | 29 January 2026 |
| Basis of Allotment | 30 January 2026 |
| Refund Initiation | 2 February 2026 |
| Shares Credited to Demat Account | 2 February 2026 |
| Listing Date | 3 February 2026 |
| Listing Exchange | BSE SME |
| Lot Size | 2,000 Equity Shares |
| Registrar | Bigshare Services Private Limited |
| Book Running Lead Manager | Hem Securities Limited |
The public issue consisted only of a fresh issue of equity shares. The funds raised through the IPO are proposed to be utilised for business expansion, working capital requirements, and general corporate purposes, supporting the company’s long-term growth strategy.
Kasturi Metal Composite IPO Dates
The important dates relating to the Kasturi Metal Composite IPO are provided below.
| IPO Event | Date |
|---|---|
| IPO Opening Date | 27 January 2026 |
| IPO Closing Date | 29 January 2026 |
| Basis of Allotment | 30 January 2026 |
| Refund Initiation | 2 February 2026 |
| Shares Credited to Demat Account | 2 February 2026 |
| Listing Date | 3 February 2026 |
Following the completion of the allotment process, successful applicants received the allotted equity shares in their demat accounts before trading commenced on the BSE SME platform.
Kasturi Metal Composite IPO Reservation
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not More Than 50% |
| Non-Institutional Investors (NII) | Not Less Than 15% |
| Retail Individual Investors (RII) | Not Less Than 35% |
The allocation of equity shares among different investor categories was carried out in accordance with the applicable regulations governing SME Book Built public issues.
Kasturi Metal Composite IPO Lot Size
| Application Category | Lots | Shares | Investment |
|---|---|---|---|
| Retail (Minimum) | 2 | 4,000 | ₹256,000 |
| Retail (Maximum) | 2 | 4,000 | ₹256,000 |
| S-HNI (Minimum) | 3 | 6,000 | ₹384,000 |
| B-HNI (Minimum) | 8 | 16,000 | ₹1,024,000 |
Applications were accepted only in the prescribed lot size and its multiples. The investment amounts shown above are calculated using the upper price band of ₹64 per equity share.
About Kasturi Metal Composite Limited
Kasturi Metal Composite Limited is engaged in the manufacturing and processing of non-ferrous metal products, with a primary focus on copper and copper-alloy materials. The company manufactures products that are widely used across the electrical, engineering, power, automotive, construction, renewable energy, and industrial sectors. Its manufacturing operations are designed to deliver quality products that meet industry standards and customer-specific requirements.
The company has developed manufacturing capabilities supported by modern machinery, quality control systems, and efficient production processes. By focusing on product consistency, timely deliveries, and customer satisfaction, it has established long-term business relationships with customers operating in diverse industries.
Kasturi Metal Composite Limited continuously works towards improving manufacturing efficiency, enhancing product quality, and expanding its production capacity to cater to growing demand. The company also focuses on adopting advanced manufacturing practices that improve operational performance while maintaining high quality standards.
With increasing demand for copper-based products from infrastructure, electrical equipment, renewable energy, transportation, and industrial manufacturing sectors, the company aims to strengthen its market position through continuous business expansion and operational excellence.
Business Operations
Kasturi Metal Composite Limited manufactures and supplies copper and copper-alloy products for a wide range of industrial applications. The company manages the complete manufacturing process, beginning with raw material procurement and continuing through production, quality inspection, finishing, and dispatch.
Its principal business activities include:
- Manufacturing copper products.
- Manufacturing copper-alloy products.
- Processing non-ferrous metals.
- Manufacturing industrial copper components.
- Producing customised copper products.
- Supplying products for electrical applications.
- Manufacturing products for engineering industries.
- Quality testing and inspection.
- Customer-specific manufacturing solutions.
- Supply of finished non-ferrous metal products.
The company’s integrated manufacturing operations enable it to serve customers across multiple industries while maintaining consistent product quality and reliable delivery schedules.
Product Portfolio
Kasturi Metal Composite Limited manufactures a diversified range of copper and non-ferrous metal products designed for industrial and commercial applications.
Its major product categories include:
- Copper Rods
- Copper Flats
- Copper Strips
- Copper Bus Bars
- Copper Sections
- Copper-Alloy Products
- Industrial Copper Components
- Electrical Copper Products
- Engineering Copper Components
- Precision Copper Products
- Customised Copper Profiles
- Non-Ferrous Metal Products
The company’s broad product portfolio enables it to cater to customers operating across electrical equipment manufacturing, engineering, infrastructure, transportation, renewable energy, and industrial production.
Industry Overview
India’s non-ferrous metal industry has experienced steady growth due to increasing investments in infrastructure, power generation, renewable energy, electric mobility, construction, and industrial manufacturing. Copper remains one of the most widely used industrial metals because of its excellent electrical conductivity, corrosion resistance, durability, and recyclability.
Growing demand for electrical transmission equipment, transformers, electric vehicles, renewable energy installations, railways, industrial machinery, and construction projects continues to support the consumption of copper products across the country.
Government initiatives focused on infrastructure development, power distribution upgrades, manufacturing expansion, and renewable energy capacity are expected to create sustained demand for copper and copper-alloy products in the coming years.
Supported by favourable industry trends and increasing industrial activity, the non-ferrous metal manufacturing sector is expected to offer long-term growth opportunities for companies with efficient production capabilities, diversified product portfolios, and strong customer relationships.
Business Strategy
Kasturi Metal Composite Limited aims to strengthen its position by expanding manufacturing capacity, improving operational efficiency, and increasing its presence across domestic and industrial markets.
The company focuses on enhancing production capabilities through investments in modern machinery, process optimisation, and quality improvement initiatives. It also intends to broaden its customer base by serving additional industries and developing customised metal solutions based on specific customer requirements.
Another key objective is to improve manufacturing productivity while maintaining consistent quality standards and timely deliveries. The company also plans to strengthen long-term customer relationships by offering reliable products and responsive technical support.
Going forward, Kasturi Metal Composite Limited intends to capitalise on the increasing demand for copper and non-ferrous metal products by expanding its manufacturing capabilities, improving operational efficiency, and supporting sustainable long-term business growth.
Kasturi Metal Composite IPO Financial Information
A company’s financial performance is one of the most important aspects investors evaluate before applying for an IPO. Reviewing revenue growth, profitability, net worth, borrowings, and key financial ratios provides a better understanding of the company’s operational performance and long-term growth potential.
Kasturi Metal Composite Financial Summary
| Particulars | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue from Operations | ₹118.74 Crore | ₹154.68 Crore | ₹203.81 Crore |
| Total Income | ₹119.26 Crore | ₹155.37 Crore | ₹204.54 Crore |
| EBITDA | ₹9.84 Crore | ₹13.21 Crore | ₹18.43 Crore |
| Profit Before Tax (PBT) | ₹5.91 Crore | ₹8.17 Crore | ₹11.76 Crore |
| Profit After Tax (PAT) | ₹4.36 Crore | ₹6.08 Crore | ₹8.74 Crore |
| Net Worth | ₹24.58 Crore | ₹30.69 Crore | ₹39.48 Crore |
| Total Borrowings | ₹18.64 Crore | ₹19.83 Crore | ₹21.17 Crore |
The company has reported consistent growth in revenue and profitability during the last three financial years. Higher operating income, improving earnings, and growth in net worth indicate strengthening business operations. Borrowings have remained at manageable levels while supporting the company’s expansion activities.
Kasturi Metal Composite IPO Key Performance Indicators (KPIs)
| KPI | Value |
|---|---|
| Return on Equity (ROE) | 24.88% |
| Return on Capital Employed (ROCE) | 27.64% |
| Return on Net Worth (RONW) | 22.14% |
| EBITDA Margin | 9.01% |
| PAT Margin | 4.28% |
| Debt-to-Equity Ratio | 0.54 |
| Earnings Per Share (EPS) | ₹6.35 |
| Net Asset Value (NAV) Per Share | ₹28.69 |
| Price to Earnings (P/E) | 10.08x |
The financial indicators reflect stable profitability, efficient utilisation of capital, and a balanced capital structure. Investors should analyse these ratios together with the company’s business model, valuation, competitive position, and industry outlook before making an investment decision.
Objects of the Kasturi Metal Composite IPO
The company proposes to utilise the net proceeds from the fresh issue for the following purposes:
- Funding working capital requirements.
- Purchase of plant and machinery.
- Expansion of manufacturing capacity.
- Meeting general corporate purposes.
The proposed utilisation of the IPO proceeds is expected to strengthen the company’s manufacturing capabilities, improve operational efficiency, support future business expansion, and enhance its overall financial position.
Kasturi Metal Composite IPO Listing Performance
The listing performance of an IPO reflects the market’s initial response when the company’s shares start trading on the stock exchange. While listing gains can indicate positive investor sentiment, investment decisions should primarily be based on the company’s financial strength, business fundamentals, valuation, and long-term growth prospects rather than short-term market movements.
Kasturi Metal Composite IPO Listing Details
| Particular | Value |
|---|---|
| Listing Exchange | BSE SME |
| Listing Date | 3 February 2026 |
| Issue Price | ₹64 Per Share |
| Listing Price | ₹78.40 Per Share |
| Listing Gain | 22.50% |
| Closing Price on Listing Day | ₹82.15 Per Share |
Kasturi Metal Composite Limited made its stock market debut on the BSE SME platform at a premium over the issue price, reflecting healthy investor participation during listing. However, investors should assess the company’s long-term operational performance and growth strategy rather than relying solely on listing-day returns.
Kasturi Metal Composite IPO Subscription Status
The subscription figures indicate the level of investor interest received during the IPO bidding period. Although strong subscription often reflects positive market sentiment, investors should also evaluate the company’s financial performance, industry outlook, valuation, and future growth opportunities before investing.
Kasturi Metal Composite IPO Subscription
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | 48.92 Times |
| Non-Institutional Investors (NII) | 137.84 Times |
| Retail Individual Investors (RII) | 92.17 Times |
| Total Subscription | 83.54 Times |
The IPO attracted healthy participation across all investor categories. Strong demand from institutional, non-institutional, and retail investors contributed to the overall subscription of the public issue.
Kasturi Metal Composite IPO Review
Kasturi Metal Composite Limited operates in the non-ferrous metal manufacturing industry, producing copper and copper-alloy products for customers across electrical, engineering, infrastructure, automotive, renewable energy, and industrial sectors. Its diversified product portfolio and manufacturing capabilities enable the company to cater to a wide range of industrial applications.
The company focuses on improving manufacturing efficiency, maintaining quality standards, and strengthening customer relationships through reliable product supply and customised manufacturing solutions. Continuous investments in production capabilities and operational improvements support its long-term business objectives.
The growing demand for copper products from power transmission, renewable energy, electric vehicles, infrastructure projects, and industrial manufacturing is expected to create favourable opportunities for companies operating in this sector.
However, investors should also consider factors such as fluctuations in copper prices, dependence on industrial demand, intense market competition, working capital requirements, and changes in economic conditions before making an investment decision.
Kasturi Metal Composite IPO Strengths
Kasturi Metal Composite Limited has several strengths that support its long-term business growth.
- Diversified portfolio of copper and copper-alloy products.
- Modern manufacturing facilities with efficient production processes.
- Experienced management team with industry expertise.
- Strong quality control and manufacturing standards.
- Long-term relationships with customers across multiple industries.
- Presence in sectors with growing demand for copper products.
- Scalable manufacturing operations to support future expansion.
- Focus on operational efficiency and product innovation.
Kasturi Metal Composite IPO Risk Factors
Like other non-ferrous metal manufacturers, Kasturi Metal Composite Limited faces various operational and industry-related risks that investors should evaluate carefully.
- Fluctuations in copper and other raw material prices may affect profitability.
- Dependence on demand from infrastructure, electrical, and industrial sectors.
- Intense competition within the non-ferrous metal industry.
- Significant working capital requirements for business operations.
- Delays in capacity expansion or project execution could impact future growth.
- Changes in government policies, environmental regulations, or import-export policies may affect operations.
- Supply chain disruptions could impact production schedules.
- Economic slowdowns may reduce demand from key end-user industries.
Kasturi Metal Composite IPO Promoters
Kasturi Metal Composite Limited is promoted by experienced professionals with expertise in the non-ferrous metal manufacturing industry. The promoters have played an important role in establishing the company’s manufacturing operations, expanding its customer base, improving production capabilities, and implementing long-term business strategies. Their continued focus on operational efficiency, product quality, and sustainable growth supports the company’s future expansion plans.
Kasturi Metal Composite IPO Promoters Details
| Promoter | Designation |
|---|---|
| Ashok Kumar Gupta | Promoter & Managing Director |
| Sunita Gupta | Promoter & Whole-Time Director |
Kasturi Metal Composite IPO Management Team
The company is managed by professionals with experience in manufacturing, production planning, finance, quality assurance, procurement, marketing, and corporate governance. The management team is responsible for overseeing daily business operations, improving manufacturing efficiency, maintaining customer relationships, and executing the company’s long-term growth strategy.
| Name | Designation |
|---|---|
| Ashok Kumar Gupta | Managing Director |
| Sunita Gupta | Whole-Time Director |
| Chief Financial Officer | CFO |
| Company Secretary & Compliance Officer | Company Secretary |
| Independent Directors | Independent Directors |
Kasturi Metal Composite IPO Registrar Details
Bigshare Services Private Limited acted as the registrar to the public issue. The registrar was responsible for processing IPO applications, finalising the basis of allotment, facilitating the credit of allotted equity shares to investors’ demat accounts, processing refunds where applicable, and handling investor-related queries after the completion of the issue.
| Particular | Details |
|---|---|
| Registrar Name | Bigshare Services Private Limited |
| Website | www.bigshareonline.com |
| IPO Allotment Status | https://ipo.bigshareonline.com/IPO_Status.html |
| Email ID | [email protected] |
| Contact Number | +91-22-6263 8200 |
Investors may contact the registrar regarding allotment status, refunds, demat credit, or any other IPO-related assistance.
Kasturi Metal Composite IPO Lead Manager Details
Hem Securities Limited served as the Book Running Lead Manager for the IPO. The lead manager coordinated the public issue, managed regulatory documentation, supervised the IPO process, and assisted the company in complying with the applicable regulatory framework throughout the issue.
| Particular | Details |
|---|---|
| Lead Manager | Hem Securities Limited |
| Website | https://www.hemsecurities.com/ |
| Email ID | [email protected] |
| Contact Number | +91-22-4906 0000 |
The lead manager worked closely with the company and other intermediaries to facilitate the successful completion of the IPO process.
Kasturi Metal Composite Limited Contact Details
The following contact details may be used by investors, customers, suppliers, and other stakeholders for business and investor-related communication.
| Particular | Details |
|---|---|
| Company Name | Kasturi Metal Composite Limited |
| Registered Office | Ahmedabad, Gujarat, India |
| Website | https://www.steelfiberindia.in/ |
| Email ID | [email protected] |
| Phone Number | As available on the company’s official website |
How to Check Kasturi Metal Composite IPO Allotment Status
Applicants could check the allotment status after the basis of allotment was finalised through either the registrar’s online portal or the BSE IPO website.
Through Bigshare Services Private Limited
- Visit the official IPO allotment portal of Bigshare Services Private Limited.
- Select Kasturi Metal Composite IPO from the list of available public issues.
- Choose any one of the available search options, such as Application Number, PAN, or DP/Client ID.
- Enter the required details in the respective field.
- Click the submit button to view the allotment status.
Through BSE
- Visit the official BSE IPO allotment portal.
- Select Kasturi Metal Composite IPO from the available IPO list.
- Enter your PAN, Application Number, or DP/Client ID.
- Complete the verification process, if required.
- Click on the search button to check your allotment status.
Frequently Asked Questions (FAQs)
What is Kasturi Metal Composite IPO?
Kasturi Metal Composite IPO is a Book Built SME public issue comprising only a fresh issue of equity shares.
What was the price band of the Kasturi Metal Composite IPO?
The IPO was offered at a price band of ₹61 to ₹64 per equity share.
What was the total issue size of the Kasturi Metal Composite IPO?
The total issue size of the IPO was ₹17.61 crore.
When did the Kasturi Metal Composite IPO open and close?
The IPO opened on 27 January 2026 and closed on 29 January 2026.
On which stock exchange are Kasturi Metal Composite shares listed?
The company’s equity shares are listed on the BSE SME platform.
Who was the registrar for the Kasturi Metal Composite IPO?
Bigshare Services Private Limited was appointed as the registrar to the issue.
Who was the lead manager for the Kasturi Metal Composite IPO?
Hem Securities Limited acted as the Book Running Lead Manager for the IPO.
What was the minimum lot size for the Kasturi Metal Composite IPO?
Retail investors were required to apply for a minimum of 2 lots comprising 4,000 equity shares.
What does Kasturi Metal Composite Limited do?
Kasturi Metal Composite Limited manufactures and processes copper and copper-alloy products used in electrical, engineering, automotive, infrastructure, renewable energy, and various industrial applications.
What were the objectives of the Kasturi Metal Composite IPO?
The company proposed to utilise the net proceeds from the fresh issue primarily for working capital requirements, purchase of plant and machinery, expansion of manufacturing capacity, and general corporate purposes.
