| The scrip was listed at Rs 100, a premium of 14.94% over the initial public offer (IPO) price. The stock is currently frozen at its lower limit of 5% over its listing price. The counter hit a high of Rs 101 and a low of Rs 95. About 22.08 lakh shares of the company changed hands at the counter. Classic Electrodes (India)'s IPO was subscribed 165.39 times. The issue opened for bidding on 22 August 2025 and it closed on 26 August 2025. The price band of the IPO was set at Rs 82 to 87 per share. The IPO comprised fresh issue of 47,71,200 shares. The promoter shareholding in the company diluted to 71.77% post- IPO from 97.73% pre-IPO. The company intends to utilize the net proceeds for capital expenditure towards the setup of a new manufacturing unit, purchase of new office space, repayment/prepayment of certain debt facilities including bridge finance, working capital requirements and general corporate purposes. Ahead of the IPO, Classic Electrodes (India) on 21 August 2025, raised Rs 11.69 crore from anchor investors. The board allotted 13.44 lakh shares at Rs 87 each to 10 anchor investors. Classic Electrodes (India) engaged in the business of manufacturing welding electrodes and providing engineering solutions to customers both in domestic and international market. The company provides a wide range of product offerings including general purpose electrodes, low alloy electrodes, low hydrogen electrodes, stainless steel electrodes, hard facing electrodes, cast iron electrodes, non-ferrous electrodes, low heat input electrodes, cutting and gauging electrodes, Mig wires etc. The firm designs, develops and manufactures complex and specialized industrial equipment and components for OEM's and end user industries. As of 28 February 2025, the company had 95 employees. The company recorded revenue from operations of Rs 187.60 crore and net profit of Rs 9.57 crore for the period ended 28 February 2025. Powered by Capital Market - Live News |