The Shri Kanha Stainless IPO will open for subscription on December 3, 2025, and close on December 5, 2025. It is a Fixed Price Issue, through which the company plans to raise around ₹46.28 crore. The IPO includes a fresh issue worth ₹46.28 crore along with an offer for sale of equity shares with a face value of ₹10 each. The shares will list on NSE SME on December 10, 2025, while the allotment will be finalised on December 8, 2025.
The Shri Kanha Stainless IPO is priced at ₹90 per share. The retail quota stands at 50%, while NII investors also have a 50% share. The company has shown steady financial growth, with revenue rising to ₹146.39 crore in 2025 from ₹131 crore in 2024, and profit improving to ₹5.79 crore from ₹2.60 crore in the same period.
Contents
Shri Kanha Stainless IPO Details
| Detail | Information |
|---|---|
| IPO Open Date | December 3, 2025 |
| IPO Close Date | December 5, 2025 |
| Face Value | ₹10 per equity share |
| IPO Price | ₹90 per share |
| Issue Size | Approx ₹46.28 crore |
| Fresh Issue | Approx ₹46.28 crore |
| Issue Type | Fixed Price Issue |
| Listing | NSE SME |
| DRHP | View PDF |
| RHP | View PDF |
Shri Kanha Stainless IPO
Open: 3-5 Dec
Issue Size: ₹46.28 Cr.
Objective: Upgradation of plant machinery, repay debt, fund working capital and general use.
Exchange: NSE
Shri Kanha Stainless IPO Review
Shri Kanha Stainless has maintained consistent revenue growth and profit expansion over the last three years. The company operates in a niche stainless-steel precision strip segment with demand from automotive, chemical, textile, and electrical industries.
Its margins remain modest, but the increasing profitability and expansion plans indicate long-term potential. Investors with a long-term view may consider this IPO, given the company’s improving fundamentals and capacity enhancement plans.
Shri Kanha Stainless IPO GMP
As per the ongoing market sentiment, the grey market premium (GMP) for the Shri Kanha Stainless IPO reflects early interest from retail and HNI investors.
While GMP trends often fluctuate until listing, the current market activity suggests cautious optimism due to the company’s rising profitability and demand visibility in the stainless-steel precision segment. Analysts note that the company’s valuation appears moderate for an SME issue, which may support stable grey-market movement.
However, investors should treat GMP only as an informal indicator and focus on the company’s financial performance, debt levels, and long-term capacity expansion plans before making any decision. GMP is not an official metric and should not be the sole basis for investment.
Shri Kanha Stainless IPO Market Lot
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 3,200 | ₹2,88,000 |
| Retail Maximum | 2 | 3,200 | ₹2,88,000 |
| S-HNI Minimum | 3 | 4,800 | ₹4,32,000 |
IPO Reservation
| Investor Category | Shares Offered | % Shares |
|---|---|---|
| Anchor Investor | – | – |
| NII | 24,41,600 | 47.48% |
| Retail | 24,41,600 | 47.48% |
Shri Kanha Stainless IPO Dates
| Event | Date |
|---|---|
| IPO Open Date | December 3, 2025 |
| IPO Close Date | December 5, 2025 |
| Basis of Allotment | December 8, 2025 |
| Refunds | December 9, 2025 |
| Credit to Demat | December 9, 2025 |
| Listing Date | December 10, 2025 |
| Cut-off Time | December 5, 2025 – 5 PM |
Promoters and Shareholding Pattern
| Particular | Shares | % Share |
|---|---|---|
| Promoter Holding Pre-Issue | 1,04,40,000 | 100% |
| Promoter Holding Post-Issue | 1,55,82,400 | 67% |
Promoters:
Include Jai Bhagwan Agarwal, Kavita Agarwal, Shashank Agrawal, and Neha Agarwal.
Objects of the Issue
The company aims to use the IPO proceeds for upgrading its existing manufacturing facility by installing a 1150 mm 4-Hi AGC Reversible Rolling Machine, which will help boost production efficiency and output.
A portion of the funds will also go towards repayment or prepayment of certain secured and unsecured borrowings, thereby reducing interest costs. Additionally, the IPO will support working capital needs and general corporate purposes, helping the company strengthen its operations and future growth plans.
About Shri Kanha Stainless Limited
Founded in July 2015, Shri Kanha Stainless Limited manufactures precision stainless-steel cold-rolled strips used across automotive, textiles, chemicals, electrical equipment, and consumer product industries. The company produces stainless-steel coils in 200, 300, and 400 series with thickness ranging from 0.08 mm to 2.00 mm.
It offers both hard and soft temper products as per customer requirements. The manufacturing facility is located in Sikar, Rajasthan with an installed capacity of 14,000 MTPA. The company also holds ISI certifications, which enhances its brand reliability and product acceptance.
Shri Kanha Stainless IPO Financials
| Period Ended | Revenue | Expense | PAT | Assets |
|---|---|---|---|---|
| 2023 | ₹136.47 Cr | ₹135.52 Cr | ₹0.72 Cr | ₹57.03 Cr |
| 2024 | ₹131.00 Cr | ₹127.47 Cr | ₹2.60 Cr | ₹80.25 Cr |
| 2025 | ₹146.39 Cr | ₹138.70 Cr | ₹5.79 Cr | ₹106.13 Cr |
| September 2025 | ₹110.30 Cr | ₹104.31 Cr | ₹4.26 Cr | ₹116.34 Cr |
- Also Read: Speb Adhesives IPO
Shri Kanha Stainless IPO Valuation – FY2025
| KPI | Value |
|---|---|
| ROE | 47.61% |
| ROCE | 19.20% |
| EBITDA Margin | 9.18% |
| PAT Margin | 3.97% |
| Debt to Equity | 4.19 |
| EPS (Basic) | ₹5.55 |
| P/E Ratio | 16.23 |
| RoNW | 47.61% |
| NAV | ₹11.65 |
Peer Comparison
| Company | EPS | PE | RoNW | NAV | Income |
|---|---|---|---|---|---|
| Hisar Metal Industries Ltd | 5.89 | 35.09 | 9% | 116.00 | – |
| Quality Foils (India) Ltd | 4.97 | 15.30 | 4% | 106.00 | – |
IPO Lead Manager
Kreo Capital Pvt. Ltd.
Company Address
| Field | Details |
|---|---|
| Company | Shri Kanha Stainless Ltd. |
| Address | Plot No. 70-B, Unit No. 401-402, 4th Floor, Trimurty Prime Tower, Nirwaroo Road, Jhotwara, Jaipur, Rajasthan – 302012 |
| Phone | +91 925 704 3976 |
| info@kanhastainless.com | |
| Website | kanhastainless.com |
IPO Registrar
MAS Services Ltd.
Phone: (011) 2610 4142
Email: ipo@masserv.com
Website: masserv.com
Shri Kanha Stainless IPO FAQs
What is the Shri Kanha Stainless IPO?
Shri Kanha Stainless IPO is an NSE SME public issue worth ₹46.28 crore. It is a Fixed Price Issue priced at ₹90 per equity share.
When does the Shri Kanha Stainless IPO open and close?
The IPO opens on December 3, 2025 and closes on December 5, 2025 for all investor categories.
What is the price of the Shri Kanha Stainless IPO?
The IPO price is fixed at ₹90 per equity share with a face value of ₹10.
What is the lot size for the Shri Kanha Stainless IPO?
Investors must apply for a minimum of 3,200 shares, requiring an investment of ₹2,88,000.
What is the allotment date of the Shri Kanha Stainless IPO?
The basis of allotment will be declared on December 8, 2025.
When will the shares list on the stock exchange?
The shares will list on NSE SME on December 10, 2025.
What is the investor quota for this IPO?
Retail investors have a 50% quota, and NII investors also have a 50% quota.
What is the total issue size of the IPO?
The company aims to raise approximately ₹46.28 crore through a fresh issue and offer for sale.
How can investors apply for the Shri Kanha Stainless IPO?
You can apply through ASBA using your bank account or via UPI through your stockbroker’s IPO application platform.
What does Shri Kanha Stainless do?
The company manufactures precision stainless-steel cold-rolled strips used across automotive, textiles, chemicals, electrical, and consumer goods segments.
Is the Shri Kanha Stainless IPO good for long-term investment
The company’s revenues, profits, and manufacturing capacity have been growing. Long-term investors may evaluate it based on financials and growth prospects.
Expert Comment
Shri Kanha Stainless presents a steady growth story backed by consistent revenue expansion, capacity addition, and improving margins. The valuation appears reasonable for an SME IPO, and the company operates in a specialised stainless-steel niche with multi-industry demand.
While the debt level is on the higher side, the IPO proceeds aimed at repayment should improve financial strength. Long-term investors may consider this issue, given the company’s improving fundamentals and expansion-driven outlook.
