Shri Kanha Stainless NSE SME

Shri Kanha Stainless SME IPO

Listed

NSE SMEOpens 3 December 2025Closes 5 December 2025

Shri Kanha Stainless Limited, established in 2015, makes precision stainless-steel cold-rolled strips in thin and ultra-thin sizes (as thin as 0.08 mm). The company manufactures products across 200, 300, and 400…

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Live GMPSubscriptionAllotment
Price band
₹90.00
Issue size
₹43.95 Cr
Lot size
1,600 shares
Type
NSE SME
GMP
₹0 (0.0%)
Est. listing
₹90
Est. profit / app
—
Retail quota
47.48%

Key ratios

As per RHP / filings
Face value
₹10
EPS
5.46
P/E ratio
16.47
RoNW
47.61%
ROE
47.61%
Debt / Equity
4.19
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Timeline

  1. IPO Opens

    3 Dec 2025

  2. IPO Closes

    5 Dec 2025

  3. Allotment

    8 Dec 2025

  4. Listing

    10 Dec 2025

IPO Timeline & Listing Details

EventDate
IPO Open Date3 December 2025
IPO Close Date5 December 2025
Allotment Date8 December 2025
Listing Date10 December 2025

Investment Categories

CategoryLotsAmount
Individual
2₹2,88,000
SHNI (Min)
3₹4,32,000
SHNI (Max)
6₹8,64,000
BHNIAbove ₹10,00,000
7₹10,08,000

IPO Reservation Details

CategoryReservation
NII (Non-Institutional Investor)47.48%
Retail47.48%
Market Maker5.04%
Total100.00%

IPO Objectives

  • Upgradation of existing manufacturing facility by installation of 1150 mm 4- Hi AGC Reversible Rolling Machine (₹12.00 Cr).
  • Repayment/pre-payment, in part, of certain secured and unsecured borrowing availed by the Company (₹18.00 Cr).
  • Funding of Working Capital Requirement of the Company (₹5.48 Cr).
  • General corporate purposes (₹5.00 Cr).

Strengths

  • The company is a reputed private sector manufacturer of cold-rolled stainless sections, with the specialized capability to produce ultra-thin strips (up to 0.08 mm).
  • It shows high profitability metrics, with PAT rising by 122% in FY25 and a high RoNW of 47.61%.
  • The business maintains an effective focus on Cost Control Management and Quality Assurance in its key operational strategies.
  • The company caters to major industrial markets, with products used across diverse sectors like textiles, automotive, chemicals, and electrical equipment.
  • IPO funds are strategically used for facility upgradation (new rolling machine) and debt reduction (₹18.00 Cr), aiming to improve efficiency and leverage.

Weaknesses

  • The company has a very high Debt-to-Equity ratio of 4.19 (FY25), meaning significant financial leverage remains a key risk despite planned debt reduction.
  • The low PAT margin (3.95% in FY25) suggests intense price competition in the commodity-linked steel industry.
  • The business is vulnerable to raw material price volatility (stainless steel) and dependence on a single manufacturing unit in Rajasthan.
  • Operations are working capital intensive due to high inventory costs, which can strain liquidity.
  • There is inconsistency in top-line growth (a slight decline from FY23 to FY25), raising questions about market scalability.
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Financial Performance

Period Ended30 Sep 202531 Mar 202531 Mar 202431 Mar 2023
Assets (₹ Cr.)116.34106.1380.2557.03
Revenue (₹ Cr.)110.3146.39131136.47
PAT (₹ Cr.)4.265.792.60.72
Net Worth (₹ Cr.)16.0312.166.373.77

Peer Comparison

CompanyP/B RatioP/E RatioRONW (%)Net Worth (₹ Cr.)
Shri Kanha Stainless7.7316.4747.61%16.03
Hisar Metal Industries1.4637.833.85%62.81
Quality Foils (india)0.6313.324.61%30.15

Subscription Details

Daily Bids Status

CategoryDay 1Day 2Day 3
NII0.25x0.38x0.61x
RII0.55x3.22x4.91x
Total0.4x1.8x2.81x

Overall Subscription Statistics

CategoryShares OfferedShares BidBid Amount (₹ Cr)
NII24,41,60015,00,80013.51
RII24,41,6001,19,93,600107.94
Total48,83,2001,37,16,800123.45
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Company Details

  • Shri Kanha Stainless Ltd.
  • Plot No. 70-B, Unit No. 401-402, 4th Floor, Trimurty Prime Tower, Nirwaroo Road, Jhotwara, Jaipur, -302012
  • +91 925 704 3976
  • info@kanhastainless.com
  • https://www.kanhastainless.com/

Registrar Details

Frequently Asked Questions

What are the core products manufactured by Shri Kanha Stainless?
The company manufactures precision cold-rolled stainless-steel strips (in thin and ultra-thin sizes) and stainless-steel circles and sheets, used in textiles, automotive, and electrical equipment.
When does the Shri Kanha Stainless IPO open and close?
The Shri Kanha Stainless SME IPO opens for subscription on December 3, 2025, and closes on December 5, 2025.
What is the IPO price and listing date?
The IPO is a Fixed Price Issue at ₹90.00 per share. The tentative listing date on the NSE SME is December 10, 2025.
What are the main objectives of the Fresh Issue funds?
The net proceeds will be utilized for upgradation of the existing manufacturing facility (installing an 1150 mm 4-Hi AGC Reversible Rolling Machine), repayment of secured borrowings (₹18.00 Cr), and funding Working Capital Requirements.
What are the key financial strengths of Shri Kanha Stainless?
The company has shown strong financial growth with PAT rising by 122% in FY25. It also reports a high RoNW of 47.61% and a P/E ratio of 16.23, which is competitive within the sector.
What capacity expansion is planned by Shri Kanha Stainless?
The IPO proceeds will be used to install a new 1150 mm 4-Hi AGC Reversible Rolling Machine to upgrade the facility and improve its capacity and product quality for precision strips.

Shri Kanha Stainless SME IPO News & Updates

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Shri Kanha Stainless SME IPO IPO Pages

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Shri Kanha Stainless SME IPO Details

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Shri Kanha Stainless SME IPO GMP

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Shri Kanha Stainless SME IPO Allotment

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Shri Kanha Stainless SME IPO Review

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Shri Kanha Stainless SME IPO Registrar

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Shri Kanha Stainless SME IPO Timeline

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Shri Kanha Stainless SME IPO News

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Sources

We match Shri Kanha Stainless SME IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.

  • SEBIRules for IPO allotment and disclosures in India
  • NSEExchange notices, bidding data, and listing updates
  • BSEExchange notices and IPO allotment check tools
  • RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
  • MAS Services Ltd.Official site to check allotment status for this IPO

Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.

Reviewed by

Dinesh Agrawal · Lead IPO Analyst

15+ years in Indian markets and IPO research. He reviews IPO dates and key details before they go live.

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