Classic Electrodes IPO Opens August 22; Price Band Set at ₹82 - 87 per Share

19 Aug 2025 , 10:52 AM

Classic Electrodes (India) Ltd, a manufacturer of welding electrodes and MIG wires, on Monday announced the price band of ₹82–87 per share for its upcoming initial public offering (IPO). The issue, aimed at raising ₹41.50 crore, will be entirely through a fresh issue of 47.71 lakh equity shares.

The IPO will open for public subscription on August 22 and close on August 26, 2025. Post-issue, the company’s shares are scheduled to be listed on the NSE’s SME platform, Emerge, with a tentative listing date of September 1. GYR Capital Advisors is acting as the sole book-running lead manager, while MUFG Intime India is the registrar to the issue.

The company plans to deploy the proceeds for capital expenditure, including the purchase of plant and machinery, repayment of certain borrowings, and meeting working capital needs. Classic Electrodes operates two manufacturing facilities in West Bengal and Haryana, with a combined annual installed capacity of 10,608 metric tonnes (MT) of electrodes and 8,600 MT of MIG wires.

For the 11 months ended February 28, 2025, the company reported revenue of ₹187.6 crore and a profit after tax (PAT) of ₹9.51 crore. In FY24, revenue stood at ₹194.4 crore, with a PAT of ₹12.29 crore.

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