Classic Electrodes fixes IPO price band at Rs 82-87; issue opens August 22 – Check listing date and more

GYR Capital Advisors will act as the sole book-running lead manager, while MUFG Intime India has been appointed registrar for the issue

Classic Electrodes (India) Ltd, a manufacturer of welding electrodes and MIG wires, has fixed the price range for its upcoming initial public offering (IPO) at Rs 82 to Rs 87 per share, according to a statement released on Monday. The issue, which is entirely a fresh offering of 47.71 lakh equity shares, is expected to raise about Rs 41.50 crore, PTI reported.

The public subscription window for the IPO will open on August 22 and close on August 26, 2025. Post-issue, the company’s shares are scheduled to be listed on NSE’s SME platform, Emerge, with a tentative listing date of September 1, PTI noted.

GYR Capital Advisors will act as the sole book-running lead manager, while MUFG Intime India has been appointed registrar for the issue, PTI added.

According to the company, the net proceeds from the IPO are proposed to be used for capital expenditure on plant and machinery, repayment of certain borrowings, and funding of working capital requirements, PTI said.

Classic Electrodes currently operates two plants — one in West Bengal and another in Haryana — with a combined installed capacity of 10,608 metric tonnes of electrodes and 8,600 metric tonnes of MIG wires annually, PTI reported.

For the 11 months ended February 28, 2025, the company reported revenue of Rs 187.60 crore and a net profit of Rs 9.51 crore. In FY24, it had clocked revenue of Rs 194.40 crore and posted a profit after tax of Rs 12.29 crore, PTI added.