Karbonsteel Engineering Limited (KEL) is an engineering solutions provider specializing in the design, manufacturing, and supply of high-quality structural steel products for diverse industries. The company caters to sectors such as steel plants, railway bridges, oil & gas refineries, and infrastructure projects, playing a key role in construction, expansion, and modernization of large-scale facilities.
KEL operates two advanced manufacturing facilities in Gujarat and Maharashtra with a combined annual capacity of 32,400 MT. These facilities are equipped to produce heavy steel structures, pre-engineered buildings (PEBs), and steel bridge components.
Key Offerings:
- Heavy Steel Fabricated Structures: Large components designed for heavy industrial and infrastructure load applications.
- Precision Fabricated Steel Structures: Customized steel parts requiring high dimensional accuracy for process industries.
- Steel Bridge Structures: Robust components for railway and road bridges with strong load-bearing capacity.
- Pre-Engineered Buildings (PEBs): Cost-effective, modular steel building solutions for industrial and commercial projects.
As of January 31, 2025, the company employed 349 professionals, supporting its engineering, manufacturing, and project execution capabilities.
Karbonsteel Engineering IPO – Details
| IPO Opening Date | 09 September 2025 |
| IPO Closing Date | 11 September 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue: 37,29,600 Shares Worth ₹59.30 Crore Fresh Issue: 30,39,600 Shares Worth ₹48.33 Crore Offer For Sale: 6,90,000 Shares Worth ₹10.97 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹151 – ₹159 per share |
| Market Lot | 800 Shares |
| Min Order | 800 Shares [ 1 Lot ] |
| Listing At | BSE SME |
| Registrar | Maashitla Securities Pvt.Ltd. |
| QIB Shares Offered | 50% |
| NII Shares Offered | 15% |
| Retail Shares Offered | 35% |
Karbonsteel Engineering IPO – Date Schedule
| IPO Open Date | 09 September 2025 |
| IPO Close Date | 11 September 2025 |
| Basis of Allotment | 12 September 2025 |
| Initiation of Refund | 15 September 2025 |
| Credit of Shares to Demat | 15 September 2025 |
| IPO Listing Date | 16 September 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 11, 2025 |
Karbonsteel Engineering IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 1,600 | ₹2,54,400 |
| Retail (Max) | 2 | 1,600 | ₹2,54,400 |
| S-HNI (Min) | 3 | 2,400 | ₹3,81,600 |
| S-HNI (Max) | 7 | 5,600 | ₹8,90,400 |
| B-HNI (Min) | 8 | 6,400 | ₹10,17,600 |
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 Promoters
- Shrenik Kirit Shah
- Mittal Shrenik Shah
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowings |
|---|---|---|---|---|
| 31 March 2023 | ₹155.89 Cr | ₹149.08 Cr | ₹ 5.11 Cr | ₹48.52 Cr |
| 31 March 2024 | ₹218.77 Cr | ₹206.08 Cr | ₹9.42 Cr | ₹59.83 Cr |
| 31 March 2025 | ₹273.91 Cr | ₹254.80 Cr | ₹14.16 Cr | ₹78.55 Cr |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 27.19% |
| ROCE | 24.63% |
| Debt/Equity | 1.30 |
| RoNW | 23.45% |
| PAT Margin | 5.19% |
| EBITDA Margin | 13.41% |
| Price to Book Value | 2.92 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 12.75 | 10.01 |
| P/E (x) | 12.47 | 15.88 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Funding of capital expenditure towards the expansion of the existing Umbergaon facility through the construction of new sheds. | ₹12.29 |
| Repayment of a portion of certain borrowings availed by the Company. | ₹3.08 |
| To meet the Working Capital requirements. | ₹25.25 |
| General Corporate Purposes. | – |
✅Strengths
- Diverse offerings: heavy steel structures, bridges, PEBs, precision components.
- Two manufacturing plants (Gujarat & Maharashtra) with 32,400 MT annual capacity.
- Prestigious projects like Mumbai–Ahmedabad Bullet Train Bridge.
- Recognized by L&T for highest fabricated structures in FY 2024-25.
- Skilled workforce of 349 employees.
⚠️Risks
- High revenue dependence on Gujarat.
- Intense competition from large and regional players.
- Thin margins due to contract-based competitive bidding.
- Clients may insource fabrication, reducing demand.
- Pending cheque dishonour cases under NI Act.
Karbonsteel Engineering IPO Promoter Holding
| Pre Issue Share Holding | 72.17% |
| Post Issue Share Holding | – |
Karbonsteel Engineering IPO Prospectus
Company Contact Information
| Karbonsteel Engineering Ltd. B-8 Ratnadeep Cosmopolitan Chs Ltd, 140-141 S.V. Road, Nr. Shoppers Stop, Andheri (W), Mumbai, 400058 Mumbai, Maharashtra, 400058 Phone: +91-22- 61872821 Email: info@karbonsteel.com Website: https://www.karbonsteel.com/ |
Karbonsteel Engineering IPO Registrar
| Maashitla Securities Pvt.Ltd. Phone: +91-11-45121795-96 Email: investor.po@maashitla.com Website: https://maashitla.com/allotment-status/public-issues |
Karbonsteel Engineering IPO Lead Manager(s)
| 1. Seren Capital Pvt.Ltd. |
Karbonsteel Engineering IPO FAQ
| What is Karbonsteel Engineering IPO? Karbonsteel Engineering IPO is an SME IPO. The issue is priced at ₹151 – ₹159 per equity share. The IPO is to be listed on BSE SME. |
| When Karbonsteel Engineering IPO will open? The IPO is to open on 09 September 2025 for QIB, NII, and Retail Investors. |
| What is Karbonsteel Engineering IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Karbonsteel Engineering IPO Size? Karbonsteel Engineering IPO size is ₹59.30 Crore. |
| What is Karbonsteel Engineering IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 1600 Shares with ₹2,54,400 amount, while the maximum bid is 1600 Shares with ₹2,54,400. |
| What is the Karbonsteel Engineering IPO Allotment Date? Karbonsteel Engineering IPO allotment date is 12 September 2025. |
| What is the Karbonsteel Engineering IPO Listing Date? Karbonsteel Engineering IPO listing date is 16 September 2025. The IPO is to be listed on the BSE SME. |
