About
Shri Kanha Stainless IPO is a fixed price issue of ₹46.28 crores. The issue is entirely a fresh issue of 0.51 crore shares of ₹46.28 crore.
Shri Kanha Stainless IPO bidding started from Dec 3, 2025 and ended on Dec 5, 2025. The allotment for Shri Kanha Stainless IPO was finalized on Dec 8, 2025. The shares got listed on NSE SME on Dec 10, 2025.
Shri Kanha Stainless IPO price is ₹90 per share. The lot size for an application is 1,600. The minimum amount of investment required by an individual investor (retail) is ₹2,88,000 (3,200 shares) (based on upper price). The minimum lot size for investment in HNI is 3 lots (4,800 shares), amounting to ₹4,32,000.
Kreo Capital Pvt.Ltd. is the book running lead manager and MAS Services Ltd. is the registrar of the issue. The Market Maker of the company is Giriraj Stock Broking Pvt.Ltd..
Refer to Shri Kanha Stainless IPO DRHP for detailed Information.
IPO Stock Quote & Charts
IPO Open
Wed, Dec 3, 2025
IPO Close
Fri, Dec 5, 2025
Issue Price
₹90 per share
Market Cap (Pre-IPO)
₹140.24 Cr
IPO Details
| IPO Date | 3 to 5 Dec, 2025 |
| Listed on | Wed, Dec 10, 2025 |
| Face Value | ₹10 per share |
| Issue Price | ₹90 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 51,42,400 shares (agg. up to ₹46 Cr) |
| Reserved for Market Maker | 2,59,200 shares (agg. up to ₹2 Cr) Giriraj Stock Broking Pvt.Ltd. |
| Net Offered to Public | 48,83,200 shares (agg. up to ₹44 Cr) |
| Share Holding Pre Issue | 1,04,40,000 shares |
| Share Holding Post Issue | 1,55,82,400 shares |
| NSE Symbol | SHRIKANHA |
| ISIN | INE1V4601019 |
IPO Timetable (Tentative)
- IPO OpenWed, Dec 3, 2025
- IPO CloseFri, Dec 5, 2025
- AllotmentMon, Dec 8, 2025
- RefundTue, Dec 9, 2025
- Credit of SharesTue, Dec 9, 2025
- ListingWed, Dec 10, 2025
IPO Reservation
Shri Kanha Stainless IPO offers total 51,42,400 shares. Out of which 24,41,600 (47.48%) allocated to
NII
24,41,600 (47.48%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,59,200 (5.04%) |
| NII (HNI) Shares Offered | 24,41,600 (47.48%) |
| Retail Shares Offered | 24,41,600 (47.48%) |
| Total Shares Offered | 51,42,400 (100.00%) |
IPO Lot Size
Investors can bid for a minimum of 3,200 shares and in multiples of 1,600 shares thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 3,200 | ₹2,88,000 |
| Individual investors (Retail) (Max) | 2 | 3,200 | ₹2,88,000 |
| HNI (Min) | 3 | 4,800 | ₹4,32,000 |
About Shri Kanha Stainless Ltd.
Incorporated in July 2015, Shri Kanha Stainless Limited specializes in the manufacturing of precision stainless steel cold rolled strips, offering a wide variety of thin and ultra-thin options to cater to diverse industrial needs.
The company’s products are used across industries like textiles, automotive, chemicals, and in applications such as flexible and capillary tubes, clocks, watches, and electrical equipment.
The company produces stainless steel coils in 200, 300, and 400 series, with thicknesses from 0.08 mm to 2.00 mm. Slitting starts from 5 mm, available in hard and soft tempers based on customer needs. The company has a manufacturing capacity of 14,000 MTPA.
The company’s product portfolio includes the following:
- Cold Rolling of Stainless-Steel Precision Strips.
- Stainless Steel Circle.
- Stainless Steel Sheet.
It is accredited with ISO 9001: 2015, ISI certification 15997:2012 for Low Nickel Austenitic Stainless-Steel Sheet for utensils and appliances, IS 5522:2014, and IS 6911:2017 for stainless steel sheets, strips, and plates.
The company’s manufacturing unit is situated in Sikar. Rajasthan.
As on Nov 25, 2025, it has a order book of Rs 1,273.49 Lakhs.
Competitive Strength:
- A reputed private sector manufacturer of cold rolled stainless sections in India.
- Effective Cost Control Management.
- Quality Assurance and Quality Control of the products.
- Centralised location to cater to major markets like Delhi and Mumbai.
- Manufacturing of low thickness up to 0.08 mm.
Company Financials (Restated)
Shri Kanha Stainless Ltd.’s revenue increased by 12% and profit after tax (PAT) rose by 122% between the financial year ending with March 31, 2025 and March 31, 2024.
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 116.34 | 106.13 | 80.25 | 57.03 |
| Total Income | 110.30 | 146.39 | 131.00 | 136.47 |
| Profit After Tax | 4.26 | 5.79 | 2.60 | 0.72 |
| EBITDA | 9.25 | 13.38 | 8.24 | 4.36 |
| NET Worth | 16.03 | 12.16 | 6.37 | 3.77 |
| Reserves and Surplus | 5.59 | 11.29 | 5.50 | 2.90 |
| Total Borrowing | 56.02 | 50.98 | 53.94 | 40.36 |
| Amount in ₹ Crore | ||||
IPO 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 | Upgradation of existing manufacturing facility by installation of 1150 mm 4- Hi AGC Reversible Rolling Machine | 12.00 |
| 2 | Repayment/pre-payment, in part, of certain secured and unsecured borrowing availed by the Company | 18.00 |
| 3 | Funding of Working Capital Requirement of the Company | 5.48 |
| 4 | General corporate purposes | 5.00 |
Key Performance Indicator (KPI)
KPI as of Mon, Mar 31, 2025.
| 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 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 5.55 | 5.46 |
| P/E (x) | 16.23 | 16.47 |
| Promoter Holding | 100% | 67% |
| Market Cap | ₹140.24 Cr. |
- The value will be calculated using Equity Dilution = Share Holding Pre Issue – Share Holding Post Issue
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2025 available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2025 available in RHP.
IPO Review
Shri Kanha Stainless IPO Recommendations
| Review By | Subscribe | May Apply | Neutral | Avoid |
|---|---|---|---|---|
| Brokers | 0 | 0 | 0 | 0 |
| Members | 0 | 0 | 0 | 0 |
Shri Kanha Stainless IPO Subscription Status (Bidding Detail)
The Shri Kanha Stainless IPO is subscribed 2.81 times on December 5, 2025 6:19:59 PM (Day 3). The public issue subscribed 4.91 times in the individual investors category, [.] times in the QIB category, and 0.61 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category |
Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| NII* | 0.61 | 24,41,600 | 15,00,800 | 0 |
| Individual Investor | 4.91 | 24,41,600 | 1,19,93,600 | 3,748 |
| Total | 2.81 | 48,83,200 | 1,37,16,800 | 3,919 |
Total Application : 3,919
*Market Maker portion is not included to NII/HNI.
IPO Expenses
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue management fees including fees and reimbursements of Market Making fees and payment to other Intermediaries such as Legal Advisors to the IPO, Registrars and other out of pocket expenses. | 1.00 |
| 2 | Fees of Book Running Lead Manager in any form/ name /purpose | 0.40 |
| 3 | Marketing and Selling Commission and expenses | 4.20 |
| 4 | Advertising and marketing expenses | 0.08 |
| 5 | Printing and distribution of issue stationery | 0.03 |
| 6 | Listing fees | 0.01 |
| 7 | SEBI and BSE processing fees | 0.05 |
| 8 | Other regulatory expenses | 0.02 |
| 9 | Miscellaneous | 0.01 |
Listing Day Trading Information
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹90.00 |
| Open | ₹88.00 |
| Low | ₹83.60 |
| High | ₹88.00 |
| Last Trade | ₹83.60 |
Check IPO Performance…
IPO Registrar
MAS Services Ltd.
- (011) 2610 4142
- ipo@masserv.com
- Visit Website
IPO Lead Manager(s)
- Kreo Capital Pvt.Ltd. (Past IPO Performance)
Lead Manager Reports
- Lead Manager Performance Summary
- Lead Manager Performance Tracker
Contact Details
- +91 925 704 3976
- info@kanhastainless.com
- Visit Website
IPO FAQs
What is the Shri Kanha Stainless IPO?
Shri Kanha Stainless IPO is a SME IPO of 51,42,400 equity shares of the face value of ₹10 aggregating up to ₹46 Crores. The issue is priced at ₹90 per share. The minimum order quantity is 1600.
The IPO opens on Wed, Dec 3, 2025, and closes on Fri, Dec 5, 2025.
MAS Services Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
How to apply in Shri Kanha Stainless IPO through Zerodha?
Zerodha customers can apply online in Shri Kanha Stainless IPO using UPI as a payment gateway. Zerodha customers can apply in Shri Kanha Stainless IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Shri Kanha Stainless IPO through Zerodha
- Visit the Zerodha website and login to Console.
- Go to Portfolio and click the IPOs link.
- Go to the ‘Shri Kanha Stainless IPO‘ row and click the ‘Bid’ button.
- Enter your UPI ID, Quantity, and Price.
- Submit IPO application form.
- Visit the UPI App (net banking or BHIM) to approve the mandate.
Visit Zerodha IPO Application Process Review for more detail.
When Shri Kanha Stainless IPO will open?
The Shri Kanha Stainless IPO opens on Wed, Dec 3, 2025 and closes on Fri, Dec 5, 2025.
What is the lot size of Shri Kanha Stainless IPO?
Shri Kanha Stainless IPO lot size is 1600, and the minimum amount required for application is ₹2,88,000, with 2 lots being the minimum application size.
How to apply for Shri Kanha Stainless IPO?
You can apply in Shri Kanha Stainless IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don’t offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
When is Shri Kanha Stainless IPO allotment?
The finalization of Basis of Allotment for Shri Kanha Stainless IPO will be done on Monday, December 8, 2025, and the allotted shares will be credited to your demat account by Tue, Dec 9, 2025. Check the Shri Kanha Stainless IPO allotment status.
When is Shri Kanha Stainless IPO listing date ?
The Shri Kanha Stainless IPO listing date is on Wed, Dec 10, 2025.
About The Author
