Super Iron Foundry shares list flat on BSE SME, miss GMP estimates

Super Iron Foundry shares listed at Rs 107.95 apiece on the BSE SME, reflecting a discount of merely Rs 0.05 or 0.05 per cent over the issue price of Rs 108 per share

Super Iron Foundry IPO listing: Shares of Super Iron Foundry made a muted market debut on March 19, 2025, following the completion of its initial public offering (IPO). The company's shares listed at Rs 107.95 apiece on the BSE SME, reflecting a discount of merely Rs 0.05 or 0.05 per cent over the issue price of Rs 108 per share.

 

Super Iron Foundry IPO listing came below the grey market estimates. Ahead of the listing, the unlisted shares of Super Iron Foundry were trading at around Rs 111 per share, reflecting a grey market premium (GMP) of Rs 3 apiece, or 2.7 per cent over the issue price, revealed sources tracking unofficial markets.

 

Super Iron Foundry IPO details

Super Iron Foundry IPO comprised an entirely fresh issue of 6.30 million equity shares. The public offering was available for subscription from Tuesday, March 11, 2025, to Thursday, March 13, 2025.

 

Rs 68.05 crore SME offering of Super Iron Foundry was priced at Rs 108 per share, with a lot size of 1,200 shares. The public offering received a muted response from investors, with the issue being oversubscribed by nearly 1.56 times. The basis of allotment of Super Iron Foundry IPO shares was finalised on Monday, March 17, 2025.

 

As outlined in the Red Herring Prospectus (RHP), Super Iron Foundry proposes to utilise the proceeds from the public offering for the prepayment or repayment, in full or in part, of certain borrowings availed by the company. The company will use the proceeds for funding working capital requirements as well as for general corporate purposes.

 

Link Intime India was the registrar for the Super Iron Foundry IPO, while Horizon Management acted as the sole book-running lead manager of the public offering. 

Read: Arisinfra Solutions IPO Details

 

About Super Iron Foundry

Super Iron Foundry manufactures municipal castings, ductile iron pipe fittings, ductile iron automotive castings, ductile iron agricultural castings (rollers and crosskills), railway castings, and cast-iron counterweights. The company's products are used in major construction projects to provide access covers for storm water, sewerage, telecom, and other utility networks. Super Iron Foundry has diversified its product portfolio and produces castings for water pipe networks, railways, counterweights, and the agriculture industry.