IPO
Super Iron Foundry's Rs.68-Cr SME IPO subscribed 1.56 times
The INR 68 crore SME initial public offering (IPO) of Kolkata-based Super Iron Foundry has received 1.56 times subscription through a fresh issue of 63.01 lakh shares at INR 108 a piece with a premium of 14%. The retail portion of the issue was subscribed by 1.79 times, while the issue was subscribed by 1.34 times in the non-institutional investors category.The company will use the proceeds for funding working capital requirements and for repaying debt.Super Iron Foundry manufactures municipal castings, ductile iron pipe fittings, automotive castings, agricultural castings, railway castings, and cast-iron counterweights. The firm’s products are used in construction projects, providing access covers for stormwater, sewerage, telecommunications, and other utility networks.
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