Karbonsteel Engineering, a structural engineering and fabrication company, plans to raise ₹59 crore through initial public offering on BSE SME exchange.
The company will issue about 37.29 lakh equity shares in the price band of ₹151 – ₹159 a share. Lot size has been fixed at 800 equity shares.
The company has engaged in the design, manufacturing and assembly of heavy and precision steel structures.
The net proceeds from the IPO will be used for funding capital expenditure towards the expansion of the existing Umbergaon facility through the construction of new sheds, improving financial health through debt reduction, meeting working capital requirements and general corporate purposes.
The anchor portion will open for subscription on Thursday.
Seren Capital will be the lead manager while Maashitla Securities has been appointed as registrar.
Shrenik Kirit Shah, Chairman & Managing Director, Karbonsteel Engineering said over the years, the company has delivered structural engineering and fabrication solutions across steel plants, refineries, oil & gas facilities, railway bridges, and industrial infrastructure, supported by advanced manufacturing units and an RDSO-approved facility for bridge girders.
Fresh investments will improve efficiency, strengthen financial position and enable the company to take larger projects, thereby accelerating growth and creating long-term value, he said.
Gautam Lath, Director of Seren Capital said the company has built strong capabilities in structural engineering and fabrication, delivering projects across diverse sectors.
The structural engineering and fabrication industry is set for strong growth, supported by rising demand from industrial expansion and infrastructure development, he added.