Shri Kanha Stainless IPO: Price, GMP, Analysis, And Details

Shri Kanha Stainless IPO - Company Analysis 

Shri Kanha Stainless IPO under the SME IPO category is a fixed price issue of Rs. 46.28 Cr by Shri Kanha Stainless Ltd., and focuses on producing precision cold-rolled stainless steel strips, providing a broad range of thin and ultra-thin choices to meet various industrial requirements.

The company's goods are utilized in a variety of industries, including textiles, automobiles, chemicals and applications including electrical equipment, watches, clocks and flexible and capillary tubes.

The company manufactures stainless steel coils with thicknesses ranging from 0.08 mm to 2.00 mm in the 200, 300 and 400 series. Depending on the needs of the customer, slitting is available in both hard and soft temperatures, starting at 5 mm.  

The following products are part of the company's portfolio:

• Stainless steel precision strips are cold rolled.
• Circle made of stainless steel.
• Sheet of stainless steel.

Shri Kanha Stainless IPO Details

The Shri Kanha Stainless IPO date of opening is 03 December 2025, its initial public offering will end on 05 Dec, IPO allotment on Dec 08 and refund initiation on Dec 09, 2025.

The Rs. 46.28 crore new SME IPO comprises a wholly fresh issue of 0.51 crore shares.

The Shri Kanha Stainless IPO listing date (expected) might be on Wednesday, Dec 10, 2025, and listing at the NSE and SME. 

The Shri Kanha Stainless IPO price band is Rs. 90.

IPO Timetable (Tentative)

Events	Date
IPO Opening Date	Dec 03, 2025
IPO Closing Date	Dec 05, 2025
IPO Allotment Date	Dec 08, 2025
Refund Initiation	Dec 09, 2025
IPO Listing Date	Dec 10, 2025

Click to open demat account and apply for the IPO.

 

 

Company Financials

(Amount in Cr)

Particulars	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	106.13	80.25	57.03
Total Income	146.39	131.00	136.47
Profit After Tax (PAT)	5.79	2.60	0.72
EBITDA	13.38	8.24	4.36
Net Worth	12.16	6.37	3.77
Reserves & Surplus	11.29	5.50	2.90
Total Borrowing	50.98	53.94	40.36

 

Cash Flows

(Amount in lac)

Net Cash Flow	31 Mar 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	(877.95)	398.13	233.27
Net Cash Flow Investing Activities	463.27	(162.59)	(317.61)
Net Cash Flow Financing Activities	(771.92)	957.63	84.83

 

Revenue Bifurcation

(Rs. in Lac)

(Source: DRHP)

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Upgrade the current production plant by installing a 1150 mm 4 Hi AGC Reversible Rolling Device. ~ Rs. 12 Cr.
• Partial repayment or prepayment of some of the company's secured and unsecured loans. ~ Rs. 18 Cr.
• Funding the company's working capital needs. ~ Rs. 5.48 Cr.
• General corporate purposes. ~ Rs. 5 Cr.
  
  

Listed Peers of Shri Kanha Stainless Ltd. 

Company Name	Face Value (Rs. )	EPS (Rs. )	P/E Ratio (x)
Shri Kanha Stainless Limited	10	5.55	16.23
Hisar Metal Industries Limited	10	5.89	35.09
Quality Foils (India) Limited	10	4.97	15.30

 

Valuation

KPI	Values
ROE	47.61%
ROCE	19.20%
Debt/Equity	4.19
RoNW	47.61%
PAT Margin	3.97%
EBITDA Margin	9.18%
Price to Book Value	7.73

 

Evaluation of P/E Ratio

Considering the period ended on FY 2025 with an EPS of Rs. 5.55 from the last year, the resulting P/E ratio is 16.23x.

Explore the Mother Nutri IPO.

 

 

IPO's Strengths 

• A well-known Indian private sector producer of cold-rolled stainless steel pieces.
•  Efficient management of cost control.
•  Product quality assurance and control.
•  Centralized position to serve important markets such as Mumbai and Delhi.
•  Production of thin materials up to 0.08 mm in thickness.

IPO’s Weaknesses

• Extended credit terms for OEM dealers and customers.
• Extended onboarding time for new dealers and customers.
• Less capacity than some rivals.

Shri Kanha Stainless IPO GMP (Grey Market Premium)

Shri Kanha Stainless IPO GMP today is Rs. 0 as of 01 Dec 2025 at the time of writing this information.

Shri Kanha Stainless IPO Summary

IPO Opening & Closing Date	03 Dec, 2025 to 05 Dec, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 90  per Share.
Lot Size	1600 Shares
Issue Size	51,42,400 Shares (Rs. 46.28 Cr)
Offer for Sale	-
Fresh Issue	51,42,400 Shares (Rs. 46.28 Cr)
Listing at	NSE, SME
Issue Type	Fixed price issue IPO
Registrar	MAS Services Ltd.

 

IPO Lot Details 

Retail investors can invest in a minimum of 2 Lots (3200 Shares) for Rs. 2,88,000, and in multiples thereof, while S-HNI investors can invest in a minimum of 3 Lots (4800 Shares) for Rs. 4,32,000.

Minimum Lot Investment (Retail)	2 Lots
Maximum Lot Investment (Retail)	2 Lots
S-HNI (Min)	3 Lots

 

Shri Kanha Stainless IPO Allotment Status

To check the Shri Kanha Stainless IPO Allotment Status, visit the official Registrar’s website or BSE website. Below are the website links for you.

Using BSE Website - ​BSE IPO allotment status

Promoters And Management of Shri Kanha Stainless Ltd.

• Mr. Jai Bhagwan Agarwal
• Mrs. Kavita Agarwal
• Mr. Shashank Agrawal
• Ms. Neha Agarwal.

Pre-Issue Promoter Shareholding	100%
Post-Issue Promoter Shareholding	67%

IPO Lead Managers

• Kreo Capital Pvt. Ltd.

Dividend Policy

The company has not declared a dividend during the last three years.

Conclusion

Exposure to a developing stainless-steel company with robust revenue growth, increasing profitability, and a well-positioned manufacturing base is provided by the Shri Kanha Stainless IPO. High debt levels, protracted credit cycles and less capacity than rivals continue to be major dangers, nevertheless. 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company, Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.