| The stock listed at Rs 88, a 2.22% discount to the IPO price, and is currently frozen at its lower limit of 5% over the listing price. It touched a high of Rs 88 and a low of Rs 83.60, with 1.95 lakh shares traded on the exchange.
Shri Kanha Stainless' IPO was subscribed 2.68 times. The issue opened for bidding on 3 December 2025 and it closed on 5 December 2025. The price of the IPO was fixed at Rs 90 per share.
The IPO comprised fresh issue of 51,42,400 equity shares. The promoter and promoter group shareholding diluted to 67% from 100% pre-issue.
The company intends to utilise the net proceeds for the upgradation of the existing manufacturing facility by the installation of a 1150 mm 4-Hi AGC reversible rolling machine, the repayment/pre-payment in part of certain secured and unsecured borrowings availed by the company, funding for the working capital requirement of the company and general corporate purposes.
Shri Kanha Stainless is a leading stainless steel sheet manufacturer in India, specializing in precision cold-rolled stainless steel strips. The company offers a wide range of thin and ultra-thin cold-rolled strips, engineered with precise properties to meet diverse industry requirements. It is engaged in converting HR coils into CR coils and manufacturing coils in standard sizes and thicknesses across the 200, 300, and 400 series, ranging from 0.08 mm to 2.00 mm, as required by various producer industries. The company’s main focus is to be a profitable, quality-driven, value-conscious, and customer-focused supplier. As of 30 September 2025, the company had a total strength of 80 employees in the company.
The company recorded revenue from operations of Rs 110.23 crore and a net profit of Rs 4.26 crore for the period ended 30 September 2025.
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