Here’s a comprehensive and up-to-date overview of the Classic Electrodes (India) Limited IPO, based on official filings and reliable news sources:
Business Focus: Classic Electrodes specializes in welding consumables, including electrodes (general-purpose, low-hydrogen, stainless steel, cast iron, hard-facing, non-ferrous) and MIG wires.
Certifications & Quality: Recognized by BIS, RDSO, DGS&D; equipped with chemical and physical testing labs.
IPO Timeline
| Event | Date |
|---|---|
| Opening Date | August 22, 2025 |
| Closing Date | August 26, 2025 |
| Basis of Allotment Finalized | August 28, 2025 |
| Refunds Initiated | August 28, 2025 |
| Shares Credited to Demat Accounts | August 29, 2025 |
| Listing on NSE SME | September 1, 2025 |
IPO Details
- Issue Type: Entirely a fresh issue of equity shares—no Offer for Sale.
- Total Size: Approximately ₹41.50–41.51 crores (47.71 lakh shares at ₹82–87 each)
- Face value: ₹10 per share
- Price Band: ₹82 to ₹87 per share
- Lot Size: 1,600 shares per lot
- Minimum Retail Application: 2 lots = 3,200 shares = ₹2,78,400 (at upper band)
- Listing At: NSE SME
- Share Holding Pre Issue: 1,31,93,750 shares
- Share Holding Post Issue: 1,79,64,950 shares
GMP of Classic Electrodes (India) Limited IPO
Here’s the latest update on the Grey Market Premium (GMP) for the Classic Electrodes (India) Limited IPO:
- GMP: ₹22 per share
- As a Percentage: Approximately 25.3% above the upper price band of ₹87
- Estimated Listing Gain: ~₹109 (₹87 + ₹22)
What This Means
| Metric | Value |
|---|---|
| IPO Price Band | ₹82 – ₹87 |
| Current GMP | ₹22 |
| GMP as % | ~25.3% |
| Estimated Listing Price | ~₹109 |
Investors expect the stock could list around ₹109 per share—25.3% above the upper band—based on the grey market’s informal sentiment.
Promoters of Classic Electrodes (India) Limited
| Promoter Name | Role/Designation | Highlights |
|---|---|---|
| Mr. Hanuman Prasad Agarwal | Promoter, Chairman & Non-Executive Director | Commerce graduate with over 35 years of experience; associated since company’s incorporation in 1997; also Managing Director of Kritika Wires Ltd. |
| Mr. Sunil Kumar Mittal | Promoter & Director | Commerce graduate with 25+ years of experience; Director since 2009; based in Kolkata, leads marketing and sales. |
| Mr. Sushil Kumar Agarwal | Promoter & Managing Director | Commerce graduate with over 35 years of experience; Director since 2010; oversees manufacturing, finance, and overall operations in Haryana. |
| Mr. Nitesh Agarwal | Promoter | Listed as promoter per IPO filings. |
| M/s Alltime Suppliers Pvt. Ltd. | Promoter Entity | A corporate entity listed among promoters in IPO documentation. |
Overview
- Additional Promoter: Mr. Nitesh Agarwal is also recognized as a promoter, though specific operational responsibilities are not detailed in the sources.
- Promoter Entity: M/s Alltime Suppliers Pvt. Ltd. is also included in the promoter group, implying a structured corporate entity holding.
Classic Electrodes (India) Limited IPO Lot Size
Here’s the lot size breakdown for the Classic Electrodes (India) Limited IPO, presented clearly in a table:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 3,200 | ₹2,78,400 |
| Retail (Max) | 2 | 3,200 | ₹2,78,400 |
| S-HNI (Min) | 3 | 4,800 | ₹4,17,600 |
| S-HNI (Max) | 7 | 11,200 | ₹9,74,400 |
| B-HNI (Min) | 8 | 12,800 | ₹11,13,600 |
Notes:
- Lot Size: Each lot comprises 1,600 shares.
- Price Band: ₹82 to ₹87 per share.
- Minimum Investment (Retail): To qualify as a Retail Individual Investor, a minimum of 2 lots (3,200 shares) must be applied for, totaling approximately ₹2.78 lakh at the upper price band.
- Standalone Lot Application: Applicants from other categories (e.g., HNIs or NIIs) can apply for one lot minimum (1,600 shares), resulting in a starting investment of ₹1,39,200 at ₹87/share.
Classic Electrodes (India) Limited IPO Promoter Holding
Here’s the detailed breakdown of Classic Electrodes (India) Limited IPO – Promoter Holding based on reliable sources:
| Share Holding Pre Issue | 97.73% |
| Share Holding Post Issue | 71.77% |
About Classic Electrodes (India) Limited
- Established: 1997, with headquarters in Kolkata, West Bengal. A leading manufacturer of welding consumables in India.
- Business Model: Operates predominantly on a B2B basis, supplying welding electrodes and MIG wires to domestic and global industrial clients.
Products & Certifications
Product Portfolio includes:
- General-purpose, low-alloy, low-hydrogen, stainless steel, cast iron, hard-facing, reclamation, non-ferrous, deep-penetration, cutting & gauging electrodes
Quality Standards & Approvals:
- ISO 9001, 14001, 45001
- BIS, RDSO, DGS&D certifications
- Compliant with standards from BHEL, ICF, ONGC, NTPC, and more
Manufacturing Infrastructure
Facilities:
- Unit I (West Bengal): MIG wires and electrodes
- II (Haryana): Dedicated to MIG wire production
- Unit III (Haryana): Closed in FY2023–24
- Combined Annual Capacity: ~10,608 MT of electrodes and ~8,600 MT of MIG wires
Strategic Advantage:
- Locations selected for efficient sourcing, transportation, and robust distribution network
Summary
Classic Electrodes (India) Ltd, founded in 1997, is a stalwart in India’s welding consumables landscape. With a diverse product mix, strong manufacturing infrastructure, and certified quality systems, the company has shown commendable growth and margin expansion.
While its financials point to robust improvement, investors should weigh its high leverage and regional reliance. The upcoming SME IPO is poised to expand equity participation and possibly fuel further growth.
Classic Electrodes (India) Limited Financial Information
Here’s the detailed financial overview for Classic Electrodes (India) Limited, presented in a clear table format using the latest data available:
| Period Ended | 28 Feb 2025 | 31 Mar 2024 | Mar 31 2023 | 31 Mar 2022 |
| Assets | ₹116.34 Crore | ₹88.53 Crore | ₹76.79 Crore | ₹74.99 Crore |
| Total Income | ₹187.90 Crore | ₹194.41 Crore | ₹151.13 Crore | ₹134.37 Crore |
| Profit After Tax | ₹9.57 Crore | ₹12.30 Crore | ₹2.08 Crore | ₹1.49 Crore |
| EBITDA | ₹19.24 Crore | ₹23.04 Crore | ₹8.54 Crore | ₹6.08 Crore |
| Net Worth | ₹43.60 Crore | ₹34.03 Crore | ₹21.73 Crore | ₹19.65 Crore |
| Reserves and Surplus | ₹30.41 Crore | ₹28.75 Crore | ₹16.46 Crore | ₹14.37 Crore |
| Total Borrowing | ₹53.50 Crore | ₹46.73 Crore | ₹44.11 Crore | ₹40.21 Crore |
Key Performance Indicator (KPI)
| KPI | Values |
|---|---|
| ROE | 24.66% |
| ROCE | 17.68% |
| Debt/Equity | 1.23 |
| RoNW | 21.95% |
| PAT Margin | 5.10% |
| EBITDA Margin | 10.24% |
| Price to Book Value | 2.63 |
Strengths of Classic Electrodes (India) Limited IPO
1) Established Track Record
- Over 25 years in the welding consumables industry with a strong distribution network across India.
2) Robust Financial Growth
- Revenue grew from ₹134.37 Cr in 2022 → ₹194.41 Cr in 2024.
- Profit After Tax (PAT) rose nearly 8x from ₹1.45 Cr in 2022 → ₹12.28 Cr in 2024.
3) Improving Profit Margins
- PAT margin expanded from ~1% in 2022 to 6.34% in 2024.
- EBITDA margin at a healthy 11.85%.
4) Strong Return Ratios
- Return on Net Worth (RoNW) of 36.21% and RoCE of 26.13% indicate efficient capital usage.
5) Diverse Product Portfolio
- Wide range of welding electrodes, wires, and related products catering to industries like infrastructure, fabrication, and manufacturing.
6) Attractive Valuation
- IPO valued at P/E 8.8x – 9.3x (based on 2024 EPS), which appears lower than many listed peers.
7) Promoter Stability
- Promoters continue to hold a significant stake (~73.4%) post-IPO, showing long-term commitment.
Risks of Classic Electrodes (India) Limited IPO
1) High Dependence on Raw Materials
- Prices of steel and other raw materials fluctuate heavily; margins could shrink if costs rise.
2) Working Capital Intensive
- Business requires high inventory and receivables, impacting liquidity and cash flow.
3) Debt Exposure
- Debt-to-equity ratio stands at 1.35, which is moderate but adds financial risk if interest rates rise or earnings fall.
4) Competitive Industry
- Welding consumables sector is highly competitive, with many organized and unorganized players; pricing pressure may affect profitability.
5) Geographical Concentration
- A significant portion of revenue is from select states/regions, exposing it to regional risks.
6) SME IPO Risks
- Being an SME IPO, liquidity in shares post-listing may be limited, leading to higher volatility.
7) Client Concentration Risk
- Dependence on key customers for a major chunk of revenue; loss of any large client could materially impact financials.
Summary
Classic Electrodes (India) Limited is a fast-growing and profitable company with strong return ratios and attractive IPO valuation. However, risks like raw material volatility, debt levels, and SME market limitations need to be considered by investors.
Classic Electrodes (India) Limited Contact Details
Here are the official contact details for Classic Electrodes (India) Limited, including the IPO company office, lead manager, and registrar—all sourced from authoritative and up-to-date documents:
Classic Electrodes (India) Limited – Contact Information
| Entity | Address | Phone | |
|---|---|---|---|
| Company Office (IPO Contact) | Unit 201, 2nd Floor, Bus Terminus & Commercial Complex, Plot BG-12 AA-1 B, New Town, North 24 Parganas, West Bengal – 700156 | +91 83360 07981 | compliance@classicelectrodes.com |
| Alternate Company Address | 1 A, Bonfield Lane, Kolkata, West Bengal – 700001 | +91 83360 07981 | compliance@classicelectrodes.com |
| Lead Manager: GYR Capital Advisors Pvt. Ltd. | 428, Gala Empire, Near JB Tower, Drive-in Road, Thaltej, Ahmedabad – 380054, Gujarat | +91 87775 64648 | [email protected] |
| Registrar: MUFG Intime India Pvt. Ltd. (formerly Link Intime) | C-101, 1st Floor, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai – 400083 | +91-22-4918 6270 or +91-810 811 4949 | classicelectrodes.ipo@linkintime.co.in |
Summary
- For IPO-related queries (applications, allotment, listings): Contact at compliance@classicelectrodes.com or +91 83360 07981.
- Underwriting, market strategy, or issue coordination: Contact GYR Capital Advisors in Ahmedabad.
- Allotment status, refunds, and registrar management: Reach out to MUFG Intime India Pvt. Ltd. in Mumbai.
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