Classic Electrodes (India) IPO listing: Shares of Classic Electrodes (India) made a strong debut on the bourses on Monday, September 1, listing at ₹ 100 on NSE SME, a premium of 14.94 per cent over its initial public offering (IPO) price of ₹ 87.
The SME IPO of Classic Electrodes (India) Limited, with a total issue size of ₹41.51 crore, opened for bidding between August 22 and August 26 and received an overwhelming response from investors. The issue closed with an overall subscription of 179.97 times, indicating strong investor appetite.
During the three-day subscription window, the IPO garnered bids for 56.63 crore shares against the 31.47 lakh shares available. The retail investor category saw a stellar subscription of 158.44 times the allotted quota, while the non-institutional investor (NII) segment recorded an exceptional 356.75 times subscription. The qualified institutional buyer (QIB) portion also witnessed robust demand, receiving bids 84.88 times the shares reserved.
About the IPO
The issue comprises a completely fresh offering of 48 lakh shares with no offer-for-sale (OFS) component. The lot size for an application is 1,600 shares. The minimum investment for a retail investor is ₹2,78,400 for 3,200 shares (based on the upper price band). For high-net-worth individuals (HNIs), the minimum application size is three lots, i.e., 4,800 shares, requiring an investment of ₹4,17,600.
Classic Electrodes plans to utilise the net proceeds from the IPO to fund capital expenditure for the acquisition of plant and machinery, repay outstanding debt, support working capital requirements, and cover general corporate expenses.
Ahead of the issue opening, the company raised ₹11.69 crore from anchor investors on August 21, 2025.
GYR Capital Advisors Pvt. Ltd. is the book-running lead manager to the issue, MUFG Intime India Pvt. Ltd. is the registrar, and Wiinance Financial Services Pvt. Ltd. is acting as the market maker.
About the Company
Founded in 1997 and headquartered in Kolkata, West Bengal, Classic Electrodes (India) Limited is a leading Indian manufacturer focused on welding consumables, including electrodes and MIG wires. The company caters to domestic as well as international clients, offering a diverse range of welding consumables tailored for various industrial applications.
Classic Electrodes operates two manufacturing facilities – Unit I in Dhulagarh, West Bengal, and Unit II in Jhajjar, Haryana. A third facility, Unit III, which was located in Bahadurgarh, Haryana, was shut down during FY23-24.
The company’s plants are strategically located in West Bengal, providing easy access to multiple modes of transportation, enabling efficient distribution of products, sourcing of raw materials, and servicing of customers across regions.
As per the red herring prospectus (RHP), the company’s listed peers include D & H India Ltd (P/E 28.93), Ador Welding Ltd (P/E 28.55), and Diffusion Engineers Ltd (P/E 33.91).