Kasturi Metal Composite IPO is set to open for subscription on January 27, 2026 and will close on January 29, 2026. This SME IPO is a Book Built Issue aiming to raise approximately ₹17.61 crores. The issue includes a fresh issue of around ₹17.61 crores of equity shares with a face value of ₹10 each.
The IPO price band has been fixed at ₹61 to ₹64 per share. 50% of the issue is reserved for Qualified Institutional Buyers (QIB), 35% for retail investors, and 15% for High Net-worth Individuals (HNI). The basis of allotment is scheduled for January 30, 2026, and the shares are proposed to list on BSE SME on February 3, 2026.
Contents
Kasturi Metal Composite IPO Details
| Detail | Information |
|---|---|
| IPO Open Date | January 27, 2026 |
| IPO Close Date | January 29, 2026 |
| Face Value | ₹10 Per Equity Share |
| IPO Price Band | ₹61 to ₹64 Per Share |
| Issue Size | Approx ₹17.61 Crores |
| Fresh Issue | Approx ₹17.61 Crores |
| Issue Type | Book Build Issue |
| IPO Listing | BSE SME |
| DRHP Draft Prospectus | View PDF |
| RHP Draft Prospectus | View PDF |
| Anchor Investors List | View PDF |
Kasturi Metal IPO
Open: 27-29 Jan
Issue Size: ₹17.61 Cr.
Objective: Fund new Amravati plant setup and general corporate purposes.
Exchange: BSE SME
Kasturi Metal Composite IPO Review
Kasturi Metal Composite IPO is a small SME public issue that gives investors an opportunity to participate in the growth of a niche manufacturing business.
The company has shown consistent revenue growth from ₹50.20 crores in FY24 to ₹57.22 crores in FY25, though PAT saw a slight dip from ₹2.35 crores to ₹2.07 crores during the same period. Given the stable revenue trajectory and planned expansion, long-term investors may find this IPO worth considering.
Market Lot & Application Details
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 4,000 | ₹2,56,000 |
| Retail Maximum | 2 | 4,000 | ₹2,56,000 |
| S-HNI Minimum | 3 | 6,000 | ₹3,84,000 |
| S-HNI Maximum | 7 | 14,000 | ₹8,96,000 |
| B-HNI Minimum | 8 | 16,000 | ₹10,24,000 |
IPO Reservation
| Investor Category | Shares Offered | % of Shares |
|---|---|---|
| Anchor Investor | 7,82,000 | 28.42% |
| QIB (Ex. Anchor) | 5,22,000 | 18.97% |
| NII Shares Offered | 3,94,000 | 14.32% |
| Retail Shares Offered | 9,16,000 | 33.28% |
Anchor Investors
| Detail | Information |
|---|---|
| Anchor Bidding Date | January 23, 2026 |
| Shares Offered | 7,82,000 Shares |
| Anchor Size | ₹5.00 Crores |
| Lock-in Period (50%) | Till March 1, 2026 |
| Lock-in Period (Remaining 50%) | Till April 30, 2026 |
Kasturi Metal Composite IPO Dates
| Event | Date |
|---|---|
| IPO Open Date | January 27, 2026 |
| IPO Close Date | January 29, 2026 |
| Basis of Allotment | January 30, 2026 |
| Refunds | February 2, 2026 |
| Credit to Demat Account | February 2, 2026 |
| IPO Listing Date | February 3, 2026 |
| IPO Bidding Cut‑off Time | January 29, 2026 – 5 PM |
Promoters and Holding Pattern
The key promoters of Kasturi Metal Composite are Samit Surendra Singhai, Akash Surendra Singhai, Surendra Fatechand Singhai and Lata Surendra Singhai.
| Particular | Shares | % Share |
|---|---|---|
| Promoter Holding Pre Issue | 76,43,212 | 92.35% |
| Promoter Holding Post Issue | 1,03,95,212 | 67.90% |
Objects of the Issue
The primary objective of the Kasturi Metal Composite IPO is to fund capital expenditure for expansion. The company plans to set up a new manufacturing facility at Amravati, Maharashtra (Proposed Unit IV). Funds will be used towards mechanical and electrical works, interior work, and procurement of plant and machinery.
Around ₹13.29 crores are earmarked for this expansion. The remaining funds will be utilised for general corporate purposes. This expansion aims to enhance production capacity and serve a wider market, strengthening the company’s growth prospects.
About Kasturi Metal Composite
Kasturi Metal Composite, established in 2005, is engaged in the manufacturing and export of steel fiber products. Its product range includes loose hook‑end steel fiber, glued hook‑end steel fiber, and flat crimped steel fiber for use in fibre‑reinforced concrete applications. The company also manufactures steel wool fiber used in automotive brake pads and clutches, and trades Macro Synthetic PP Fibers under the Durocrete brand.
Kasturi’s products are marketed mainly under the Duraflex and Durabond brands, serving sectors such as construction, engineering, mining, infrastructure, logistics, and automotive industries. The manufacturing facility is equipped with advanced machinery including wire drawing machines and special equipment for steel fibre production.
Company Financial Report
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2023 | ₹37.37 | ₹35.38 | ₹1.49 | ₹21.71 |
| 2024 | ₹50.20 | ₹46.84 | ₹2.35 | ₹33.45 |
| 2025 | ₹57.22 | ₹54.18 | ₹2.07 | ₹35.57 |
| Sep 2025 | ₹32.29 | ₹28.56 | ₹2.47 | ₹44.43 |
Valuation Metrics – FY2025
| KPI | Values |
|---|---|
| ROE | 13.80% |
| ROCE | 13.76% |
| EBITDA Margin | 9.99% |
| PAT Margin | 3.64% |
| Debt to Equity Ratio | – |
| EPS (Basic) | ₹2.86 |
| P/E Ratio | N/A |
| RoNW | 11.54% |
| NAV | ₹24.79 |
There are currently no listed Indian peers for direct comparison.
IPO Lead Manager
| Detail | Information |
|---|---|
| Lead Manager | Hem Securities Ltd. |
| Registrar | Bigshare Services Pvt. Ltd. |
Company Address
| Field | Detail |
|---|---|
| Company Name | Kasturi Metal Composite Ltd. |
| Address | A‑30/3/1, MIDC, H. V. Nagar |
| City | Amravati, Maharashtra, 444605 |
| Phone | +91‑721‑2520293 |
| info@steelfiberindia.in | |
| Website | http://www.steelfiberindia.in/ |
Kasturi Metal Composite IPO FAQs
What is the Kasturi Metal Composite IPO?
It is an SME IPO by Kasturi Metal Composite Ltd. to raise around ₹17.61 crores. The IPO price band is ₹61 to ₹64 per share.
When does the IPO open and close?
The IPO opens on January 27, 2026 and closes on January 29, 2026.
What is the issue size?
The total issue size is approximately ₹17.61 crores.
What is the price band?
The IPO price band is set between ₹61 and ₹64 per equity share.
What is the lot size and minimum application?
Minimum bid is 4,000 shares, requiring approximately ₹2,56,000.
What is the basis of allotment date?
Allotment is expected on January 30, 2026.
When will shares be credited/refunded?
Shares will be credited by February 2, 2026, and refunds will also be processed on the same date.
When is the listing date?
The IPO is proposed to list on BSE SME on February 3, 2026.
How to apply?
Investors can apply through ASBA via bank or through stock brokers using UPI or offline forms.
Expert Comment
Kasturi Metal Composite IPO presents an opportunity in a niche manufacturing segment with consistent revenue growth. The company’s expansion using the IPO funds could support future scaling.
Investors should consider the SME nature of the issue and apply based on long‑term investment goals while factoring in current margins and competitive landscape.
