Kasturi Metal Composite IPO, a book-built SME issue, to raise ₹17.61 Crore fresh capital by issuing 27,52,000 Equity Shares, face value at ₹10/share.
The Kasturi Metal Composite IPO bidding period starts on 27 January 2026 and ends on 29 January 2026. Kasturi Metal Composite plans to finalise allotment on 30 January 2026 and list at BSE SME, planned on 3 February 2026.
Kasturi Metal Composite fixes its IPO shares’ price band at ₹61/share – ₹64/share. For which the minimum bid size is 4,000 shares for each retail application, 2,000 shares/lot. This brings minimum retail investment to ₹2,56,000, calculated on the upper band.
Kasturi Metal Composite IPO: Details
| IPO Opens | 27 January 2026 |
| IPO Closes | 29 January 2026 |
| Face value | ₹10 |
| Price Band | ₹61 to ₹64/share |
| Issue price | – |
| IPO Lot Size | 2,000 shares |
| Offer for sale | – |
| Fresh issue | 27,52,000 Equity Shares (₹17.61 Crore) |
| Issue Type | Book-built |
| Listing | BSE SME |
| Total Issue Size (₹ Crore) | ₹17.61 Crore (27,52,000 Equity Shares) |
| Minimum Retail Investment | ₹2,56,000 |
Kasturi Metal Composite IPO Timeline
| Bid Opening Date | 27 January 2026 |
| Bid Closing Date | 29 January 2026 |
| Allotment | 30 January 2026 |
| Refunds Initiated | 2 February 2026 |
| Share Credit Date | 2 February 2026 |
| Listing Date | 3 February 2026 |
| UPI mandate Cut-off time | 29 January 2026 (5 PM) |
Kasturi Metal Composite Key Performance Indicators (KPIs)
| KPIs | 2025 | 2024 | 2023 |
| ROE (%) | 13.8 | 24.35 | 23.76 |
| ROCE (%) | 13.76 | 18.43 | 17.24 |
| Debt-Equity Ratio (in times) | 0.74 | 0.96 | 1.39 |
| RoNW (%) | 11.54 | 18.98 | 21.23 |
| PAT Margin (%) | 3.64 | 4.73 | 4.02 |
| EBITDA Margin (%) | 9.99 | 10.85 | 10.71 |
| Price-Book Value | – | – | – |
Kasturi Metal Composite Limited: Financial Information
| 2025 (in ₹ lakh) | 2024 (in ₹ lakh) | 2023 (in ₹ lakh) | |
| Revenue | 5697.22 | 4,974.55 | 3,711.94 |
| Assets | 3,556.89 | 3,344.56 | 2,170.97 |
| Profit After Tax | 207.37 | 235.14 | 149.22 |
Subscription Status: Kasturi Metal Composite IPO
Kasturi Metal Composite IPO subscription level. Check them here!
| Day | QIB | NII | Retail Investor | Employee | Total Subscription |
| 22 January(Day 1) | – | – | – | – | – |
| 23 January(Day 2) | – | – | – | – | – |
| 24 January(Day 3) | – | – | – | – | – |
| 25 January(Day 4) | – | – | – | – | – |
| 26 January(Day 5) | – | – | – | – | – |
| 27 January(Day 6) | – | – | – | – | – |
Kasturi Metal Composite IPO GMP
Kasturi Metal Composite IPO’s GMP shows no movement as of 21 January, and is at ₹0. The listing price expectation is ₹64, which is the upper price band, keeping the anticipated gain at 0.00%.
| Date | GMP (₹) | Estimated Listing Price | Estimated Listing Gain | Trend |
| 21 January 2026 | ₹0 | ₹64 | ₹0 (0.00%) | – |
| 20 January 2026 | ₹0 | ₹64 | ₹0 (0.00%) | – |
| 19 January 2026 | ₹0 | ₹64 | ₹0 (0.00%) | – |
Note: GMP is an unofficial indicator and is subject to changes with evolving investor interest, subscription levels, and market dynamics.
Kasturi Metal Composite IPO Reservation
Kasturi Metal Composite IPO offers 27,52,000 Equity Shares, which are allocated to market makers, QIBs, anchor investors, NIIs, and individual retail investors. Check out the reservation ratio!
| Category | % of Shares Offered | Shares offered |
| Market makers | 5.01% | 1,38,000 |
| QIBs | 18.97% | 5,22,000 |
| Anchor Investors | 28.42% | 7,82,000 |
| Retail Investors | 33.28% | 9,16,000 |
| NII shares offered (HNI) | 14.32% | 3,94,000 |
| Total Shares Offered | 100% | 27,52,000 |
Kasturi Metal Composite IPO Lot Size
Retail investors shall place their bids for a minimum of 4,000 shares, that is, 2 lots, 2,000 shares/lot.
| Application | Lot Size | Shares | Amount(in ₹) |
| Retail Investors Minimum Application | 2 | 4,000 | ₹2,56,000 |
| Retail Investors Maximum Application | 2 | 4,000 | ₹2,56,000 |
| S-HNI Minimum Application | 3 | 6,000 | ₹3,84,000 |
| S-HNI Maximum Application | 7 | 14,000 | ₹8,96,000 |
| B-HNI Minimum Application | 8 | 16,000 | ₹10,24,000 |
Kasturi Metal Composite IPO: Anchor Investors Details
| Bidding Opens On | 23 January 2026 |
| Shares to be Offered | 7,82,000 |
| Issue Size | ₹5.00 Crore |
| 30 days lock-in expiry date (50% of shares) | 1 March 2026 |
| 90 days lock-in expiry date (For remaining shares) | 30 April 2026 |
Kasturi Metal Composite IPO Prospectus
| Kasturi Metal Composite IPO DRHP(Doc) | |
| Kasturi Metal Composite IPO RHP(Doc) | |
| Kasturi Metal Composite IPO Anchor Investors | – |
| Kasturi Metal Composite IPO Final Prospectus | – |
About Kasturi Metal Composite Limited
Kasturi Metal Composite Ltd. was incorporated on 24 November 2005. The company is handled by Chairman and Managing Director Samit Surendra Singhai. The company has, so far, built a focused presence in the industrial materials space, which is supported by its technical expertise and an emphasis on quality-driven manufacturing.
The company manufactures and distributes steel fiber products and also supplies them to overseas markets, serving diverse industrial use cases. The company also produces steel wool fibers that are used in friction materials for automotive systems.
In addition, the company also trades macro synthetic polypropylene fibers under the Durocrete brand and operates its subsidiary, Durafloor Concrete Solution LLP, which delivers customised concrete flooring solutions.
| Book Running Lead Managers (BRLM) | Hem Securities Ltd. |
| IPO Registrar | Bigshare Services Pvt. Ltd. |
Objectives of Kasturi Metal Composite
| Particulars | Amount (in ₹ lakh) |
| Capital expenditure for setting up a manufacturing unit in Amravati, Maharashtra | 1329.07 |
| Corporate requirements | – |
Strengths Of Kasturi Metal Composite
- Factory game-on-point: The company’s three specialised MIDC units with modern machinery enable efficient production, precision output, and consistent quality across steel fiber lines.
- Product range that delivers: The company’s wide mix of steel fibers and steel wool products serves construction, infrastructure, and automotive uses across India and overseas markets.
- Quality First, Always: The company follows strict quality checks at every stage, backed by ISO certification and external lab testing, that ensure reliable and standardised output.
- Pan-India & beyond reach: The company’s strong customer relationships across multiple Indian states and global markets support stable demand and diversified revenue streams.
Risks of Kasturi Metal Composite
- Supplier circle is too tight: The company heavily relies on a limited supplier base within a specific region, which subjects its operations to supply disruptions and cost pressures.
- Customer concentration risk: The company generates a big share of revenue from a few clients, which makes its earnings vulnerable to order losses or reduced demand.
- Input cost volatility: The company’s absence of long-term sourcing contracts leaves it exposed to raw material price swings and availability issues.
- Expansion timing risk: The company’s order delays for new machinery could push back expansion plans and raise overall project and operating costs.
Kasturi Metal Composite IPO Review
Kasturi Metal Composite’s IPO shows stable revenue growth backed by a focused steel fiber product mix and manufacturing scale.
However, slower margin growth, client concentration, and raw material dependency add up to caution. Additionally, with GMP at ₹0 and SME-specific risks, the issue might suit investors with a mid-term horizon and higher risk tolerance.
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Kasturi Metal Composite IPO FAQs
The Kasturi Metal Composite IPO is a book-built SME issue aiming to raise ₹17.61 crore through a fresh issue of 27,52,000 equity shares to support capacity expansion and business needs.
Investors can apply for the Kasturi Metal Composite IPO through ASBA using net banking or UPI via their broker or trading platform during the subscription window.
The Kasturi Metal Composite IPO shows operational scale and niche products but faces margin pressure and concentration risks. It might suit informed investors comfortable with SME volatility.
The Kasturi Metal Composite IPO shows short-term, limited listing gains. Its GMP is currently ₹0, and the gains will depend on the execution of expansion plans and improvement in margins over time.
The Kasturi Metal Composite IPO opens for subscription on 27 January 2026 and closes on 29 January 2026.
The retail lot size for the Kasturi Metal Composite IPO is 2,000 shares, with a minimum application of 4,000 shares amounting to ₹2,56,000 calculated at the upper price band.
The Kasturi Metal Composite IPO allotment is scheduled to be finalised on 30 January 2026.
The Kasturi Metal Composite IP shares are expected to be listed on the BSE SME platform on 3 February 2026.
