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Karbonsteel Engineering IPO
Price Band
₹151.0–159.0
Issue Size
₹59.3 Cr
Lot Size
800 shares
Min Investment
₹254,400
2 LOTS MIN
GMP
+₹25.0 (15.72%)
Issue Price
₹159.0
Subject to Sauda
₹15200
Paid only if allotted
Karbonsteel Engineering IPO AI Summary
- Karbonsteel Engineering IPO is listed on BSE SME in the Civil Construction sector.
- Price band: ₹151.0–₹159.0 per share, lot size 800 shares (min. investment ₹254,400, 2 lots minimum).
- Subscription window: 09 Sep–11 Sep 2025, listing on 16 Sep 2025.
- Current GMP is +₹25.0 (15.72%), an estimated listing price of ₹184 — unofficial and can change daily.
Karbonsteel Engineering Limited is an SME in the civil construction sector, focusing on engineering solutions and fabrication. With a strong order book and experienced management, the company is positioned for growth. The IPO aims to raise funds for expansion and working capital, with a competitive valuation compared to peers.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Karbonsteel Engineering IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 11 Sep 2025 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Karbonsteel Engineering IPO Grey Market Premium (GMP) Today
GMP
+₹25.0
GMP %
+15.72%
Est. Listing
₹184.0
Updated: 25 Jul 2026 14:12
About the Company
Incorporated in 2011, Karbonsteel Engineering Limited is an engineering solutions provider, specializing in designing, manufacturing, and supplying high-quality products across various industries. The company provides structural engineering and fabrication solutions for steel plants, railway bridges, oil & gas plants, refineries, and other industries, supporting construction, expansion, and modernization of large-scale projects. The company operates two manufacturing facilities in Gujarat and Maharashtra, producing heavy steel structures, PEBs, and steel bridges, with a combined capacity of 32,400 MT per year. Services Offers: Heavy Steel Fabricated Structures: Large steel components supporting heavy loads in industrial and infrastructure projects. Precision Fabricated Steel Structures: Customized steel components requiring high accuracy for industrial and process applications. Steel Bridge Structures: Steel components for constructing railway and road bridges with high load-bearing capacity. Pre-Engineered Buildings (PEBs): Customized steel systems for efficient, cost-effective industrial and commercial building construction. As of January 31, 2025, the company had a total workforce of 349 employees across locations. Competitive Strengths: Capabilities to execute large-scale industrial and infrastructure projects Strong Order Book In-House manufacturing and testing capabilities Strong relationship with customers Experienced Promoters with strong management team having domain knowledge
Company Financials (₹ Cr)
As of 2025-03-31
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets | 232.76 | 176.14 | 143.76 |
| Total Income | 273.91 | 218.77 | 155.89 |
| Profit After Tax | 14.16 | 9.42 | 5.11 |
| EBITDA | 36.61 | 25.79 | 16.22 |
| NET Worth | 60.37 | 43.80 | 28.74 |
| Reserves and Surplus | 49.27 | 38.41 | 23.74 |
| Total Borrowing | 78.55 | 59.83 | 48.52 |
Key Ratios
EPS
₹12.75
NAV
₹54.47
ROE
27.19%
ROCE
24.63%
RoNW
23.45%
P/B Value
2.92
P/E Ratio
12.47
Market Cap
₹224.85 Cr
PAT Margin
5.19%
Debt/Equity
1.30
Peer Comparison
| Company | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|
| Goodluck India Ltd | 12.63% | 19.32 | 50.66 | 50.66 |
| Atmastco Limited | 15.15% | 31.28 | 7.8 | 7.8 |
| Karbonsteel Engineering Limited This IPO | 23.45% | — | 12.78 | 12.78 |
Promoters
Shrenik Kirit Shah and Mittal Shrenik Shah
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding of capital expenditure towards expansion of existing Umbergaon facility through construction of new sheds 12.29 2 Repayment of a portion of certain borrowings availed by the Company 3.08 3 To meet the working capital requirements 25.25 4 General Corporate Purposes 4.30 5 Issue Expenses 4.18 Total 49.10
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹155.89 Cr in the year ending 31 Mar 2023, rising to ₹218.77 Cr by 31 Mar 2024, and further increasing to ₹273.91 Cr by 31 Mar 2025. This indicates a consistent upward trend in revenue over the periods.
Profit Trend
Profit After Tax was ₹5.11 Cr in the year ending 31 Mar 2023, increasing to ₹9.42 Cr by 31 Mar 2024, and further rising to ₹14.16 Cr by 31 Mar 2025. This shows a positive growth trend in profitability over the periods.
Valuation
Karbonsteel Engineering's implied P/E at the issue price is approximately 12.47, compared to peers trading at a P/E range of 19.32 to 31.28.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of the IPO based on unofficial trading. A positive GMP suggests that the stock is anticipated to list at a higher price than the issue price, while a negative GMP indicates the opposite.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It's important to consider the company's growth potential and industry position.
Who May Want to Wait
Investors who are risk-averse or those who prefer stable, established companies may want to avoid this IPO, as it involves investment in a company with growth potential but also inherent risks associated with the construction sector.
IPO Timeline, Explained
The IPO opens for subscription on September 9, 2025, and closes on September 11, 2025. Allotment of shares will be done on September 12, 2025, and the shares are expected to be listed on September 16, 2025.
Listing Gains — The Risk
Listing gains can be unpredictable and are influenced by market conditions, investor sentiment, and the company's performance. While some IPOs may see significant gains on their listing day, others may not perform as expected, leading to potential losses.
This evaluation is generated from Karbonsteel Engineering's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Karbonsteel Engineering IPO GMP today?
Karbonsteel Engineering IPO GMP today is +₹25.0 (15.72%), indicating an estimated listing price of ₹184. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Karbonsteel Engineering IPO?
The price band of Karbonsteel Engineering IPO is ₹151.0–₹159.0 per share.
When does Karbonsteel Engineering IPO open and close?
Karbonsteel Engineering IPO opens on 09 September 2025 and closes on 11 September 2025.
When does Karbonsteel Engineering IPO list on the stock exchange?
Karbonsteel Engineering IPO listed on 16 September 2025 at ₹184.0.
What is the lot size for Karbonsteel Engineering IPO?
The lot size for Karbonsteel Engineering IPO is 800 shares, requiring a minimum investment of ₹254,400 (2 lots).
What is the price band for the Karbonsteel Engineering IPO?
The price band for the Karbonsteel Engineering IPO is ₹151.0 to ₹159.0.
What is the minimum investment required?
The minimum investment required is ₹254,400, which corresponds to a lot size of 800 shares.
When does the IPO open and close?
The IPO opens on September 9, 2025, and closes on September 11, 2025.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO based on unofficial trading.
When is the listing date for the IPO?
The listing date for the IPO is September 16, 2025.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
09 Sep 2025
Close
11 Sep 2025
Allotment
12 Sep 2025
Listing
16 Sep 2025
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