Kasturi Metal Composite Ltd IPO
Steel
Price Band
₹61 – ₹64
Lot Size
2000
Minimum Bid Quantity
4000
Minimum Investment
₹256000
Issue Size
₹17.61Cr
Opens
2026-01-27
Closes
2026-01-29
Listing
03-02-2026
Subscription Status
Qualified Institutional Buyers
4 x
Non-Institutional Investor
28.95 x
Retail Individual Investor
15.69 x
Total
16.17 x
IPO Details
Issue Type
FP
Face Value
₹10
Tick Size
1
ISIN
INE0T1301023
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Kasturi Metal Composite Limited is engaged in the manufacturing, supply, and export of steel fibre products used in industrial applications. Its product range includes loose hook-end steel fibre, glued hook-end steel fibre, flat crimped steel fibre, and steel wool fibre, mainly used for fibre-reinforced concrete and friction linings in brake pads and clutches. The company also trades in macro synthetic polypropylene (PP) fibres under the "Durocrete" brand and operates a subsidiary, Durafloor Concrete Solution LLP, which provides customised concrete flooring solutions. The company’s products serve sectors such as construction, infrastructure, mining, automotive, and warehousing, and are used in applications including shotcrete, precast concrete, flooring, roads, tunnels, and hydroelectric plants. Kasturi Metal Composite operates three manufacturing units in the Maharashtra Industrial Development Corporation (MIDC), Amravati, Maharashtra. It has in-house quality labs and also outsources testing to accredited facilities.
Pros
- • Kasturi Metal Composite operates three dedicated manufacturing units in Maharashtra, each focusing on a distinct production process. The company claims to have equipped these facilities with modern machinery and automation systems to support fine wire drawing, high-performance steel fibre manufacturing, and steel wool fibre production.
- • The company manufactures a wide range of steel fibre products, catering to fibre-reinforced concrete applications. It also produces steel wool fibres used in friction linings for automotive brake pads and clutches. Through its subsidiary, it claims to offer industrial flooring solutions and Factory Mutual (FM) certified services.
- • The company claims to have established customer relationships across more than 10 Indian states and four international markets – the US, Bhutan, New Zealand, and Nepal.
Cons
- • The top 10 suppliers contributed Rs 13.42 crore (84.89 percent) of total sales for the period ended September 30, 2025; Rs 24.03 crore (76.79 percent) in FY25; Rs 29.24 crore (90.54 percent) in FY24, and Rs 25.93 crore (99.74 percent) in FY23. Any disruption in supplies from one or more of these suppliers could adversely affect the company’s business and finances.
- • The top 10 customers of Kasturi Metal Composite contributed Rs 21.14 crore (65.98 percent) to the company’s total sales for the period ended September 30, 2025; Rs 37.15 crore (65.19 percent) in FY25; Rs 34.90 crore (70.16 percent) in FY24, and Rs 30.49 crore (82.14 percent) in FY23. Any failure to retain these key customers, expand the customer base, or a loss of business from these clients can adversely affect the company’s business and financial standing.
- • The cost of raw materials consumed accounted for 41.08 percent, 52.22 percent, 56.27 percent, and 65.38 percent of revenue from manufacturing activities for the period ended September 30, 2025; FY25; FY24, and FY23. Any increase in raw material prices, supply disruptions, or inability to pass on higher costs could hurt the company’s profitability, cash flows, and financial condition.
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