Shri Hare-Krishna Sponge Iron IPO - Day 3 Subscription at 6.84 Times

Shri Hare-Krishna Sponge Iron's initial public offering (IPO) has demonstrated strong investor demand through its third day of subscription, with Shri Hare-Krishna Sponge Iron's stock price set at ₹59 per share and Shri Hare-Krishna Sponge Iron's share price reflecting positive market reception. The ₹29.91 crore IPO has witnessed impressive progress, with subscription rates opening at 0.67 times on day one, improving to 1.13 times on day two, and surging to 6.84 times by 5:44:59 PM on day three, indicating strong investor interest in this sponge iron manufacturing company incorporated in May 2003.

Shri Hare-Krishna Sponge Iron IPO qualified institutional buyers segment leads with strong 10.97 times subscription, while non-institutional investors demonstrate solid participation at 10.09 times and retail investors show good interest at 3.10 times, reflecting positive investor confidence in this company with specialized sponge iron manufacturing capabilities providing key raw material required for steel production in induction and electric arc furnaces through in-house manufacturing facility, stringent quality control mechanisms, long-standing customer relationships, and experienced management team serving steel manufacturers and industrial clients across multiple states.

Shri Hare-Krishna Sponge Iron IPO subscription reached a strong 6.84 times on day three, led by QIB (10.97x), NII (10.09x), and Retail (3.10x). Total applications reached 2,861.

Subscription Status of Shri Hare-Krishna Sponge Iron IPO:

Here are the subscription details for Shri Hare-Krishna Sponge Iron IPO as of Day 3 (June 26, 2025, 5:44:59 PM):

Key Highlights - Day 3:

• Overall subscription reaching a strong 6.84 times, a substantial surge from day two's 1.13 times
• QIB segment leading with strong demand at 10.97 times, a dramatic increase from day two's 1.76 times
• NII segment demonstrating solid participation at 10.09 times, a significant jump from day two's 1.60 times
• Retail segment showing good interest at 3.10 times, improvement from day two's 0.57 times
• The final day witnessed strong institutional and high-net-worth participation across all categories
• Total applications reached 2,861, indicating focused investor participation for this SME IPO
• The cumulative bid amount reached ₹136.15 crores against the issue size of ₹29.91 crores

Shri Hare-Krishna Sponge Iron IPO - Day 2 Subscription at 1.13 Times

Key Highlights - Day 2:

• Overall subscription improving to 1.13 times from day one's 0.67 times
• QIB segment maintains steady interest at 1.76 times, unchanged from day one
• NII segment showing significant growth at 1.60 times, a dramatic increase from day one's 0.17 times
• Retail segment demonstrating building momentum at 0.57 times, an increase from day one's 0.26 times
• Day two demonstrated building confidence ahead of the strong final day performance

Shri Hare-Krishna Sponge Iron IPO - Day 1 Subscription at 0.67 Times

Key Highlights - Day 1:

• Overall subscription opening cautiously at 0.67 times, showing modest initial investor interest
• QIB segment leading early participation at 1.76 times, indicating positive institutional sentiment
• Retail segment showing limited early interest at 0.26 times, reflecting cautious individual investor confidence
• NII segment demonstrating minimal participation at 0.17 times, indicating reserved high-net-worth confidence
• Opening day demonstrated mixed initial engagement with institutional interest, leading
   

About Shri Hare-Krishna Sponge Iron Limited

Incorporated in May 2003, Shri Hare-Krishna Sponge Iron Limited manufactures and sells sponge iron. The manufacturing unit is located in Siltara-Raipur, Chhattisgarh, covering 13.45 acres with an annual capacity of 30,000 metric tonnes. The manufacturing unit holds ISO 9001:2015 for quality, ISO 14001:2015 for environment, and ISO 45001:2018 for occupational safety management. The company sells its products in Maharashtra, Madhya Pradesh, and Chhattisgarh.

Financial performance shows declining trends with revenue decreasing 2% from ₹84.93 crores in FY2024 to ₹83.60 crores in FY2025, while profit after tax dropped 10% from ₹10.17 crores to ₹9.20 crores during the same period. The company maintains reasonable profitability metrics with 13.33% ROE, 11.43% PAT margin, 13.40% EBITDA margin, operates with a low debt-to-equity ratio of 0.15, and has a market capitalisation of ₹113.23 crores. Post-IPO P/E ratio of 12.31x appears reasonable for a specialised sponge iron manufacturer, though the declining revenue trend poses concerns.