Classic Electrodes, a welding consumables manufacturer based in Kolkata, is stepping into the public market with its upcoming IPO. The issue, valued at around Rs 41.51 crore (~USD 5 million), is a fresh offering of 47.71 lakh shares and will remain open until August 22. The price band is fixed at Rs 82–87 (~USD 0.98–1.04) per share, with a lot size of 3,200 shares for retail investors. Ahead of the listing, the company secured Rs 11.69 crore (~USD 1.4 million) from anchor investors, with shares scheduled to debut on the NSE SME platform on September 1.
For those in the welding industry, Classic Electrodes is not an unfamiliar name. Established in 1997, the company has built its reputation on manufacturing a wide range of welding consumables—general-purpose electrodes, stainless steel, cast iron, and MIG wires among them. Operating with ISO 9001:2008 certification and BIS licensing, the firm serves both domestic and international markets. With two plants in West Bengal and Haryana, it supplies industries from construction to heavy engineering, positioning itself as a steady player in India’s welding ecosystem.
The funds raised through this IPO will be directed toward new plant and machinery, repayment of some existing borrowings, and strengthening working capital. While the grey market premium has shown muted signals so far, the company’s long-standing presence and industry footprint make this listing noteworthy for both investors and welding professionals following the sector’s growth.
Source:
Akash Podishetti
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