Kasturi Metal Composite IPO Listing: Shares of Kasturi Metal Composites, a steel fiber product manufacturing company, were listed flat today despite a strong market rally. While Sensex and Nifty 50 rose over 3% each as trade deal between US and India was finalized, shares of Kasturi Metal Composites were listed on BSE SME exchange at ₹64, which was equal to its IPO price.

This means that IPO investors did not get any benefit on the listing. Although the IPO received a good response from investors and was oversubscribed by more than 17 times, the flat listing was disappointing. After this the shares fell further, reaching ₹63.00 (Kasturi Metal Composites share price), causing a loss of 1.56% to IPO investors.

How will Kasturi Metal Composites IPO funds be used?

Kasturi Metal Composites’ ₹18 crore IPO was open for subscription from January 27-29. The IPO received a good response from investors and was oversubscribed a total of 17.75 times. The reserved portion for Qualified Institutional Buyers (QIBs) was subscribed 4.00 times (except anchor investors), the Non-Institutional Investors (NIIs) portion was subscribed 38.88 times, and the Retail Investor portion was subscribed 16.49 times.

27.52 lakh new shares with face value of ₹ 10 were issued in the IPO. Of the funds raised from these shares, ₹13.29 crore will be used to set up a new manufacturing unit in Amravati, and the remaining funds will be used for general corporate purposes.

About Kasturi Metal Composites

Established in 2005, Kasturi Metals manufactures steel fiber products as per the needs of the composites industry and supplies them within the country and abroad. The company manufactures steel wool fiber for brake pads and clutches, and also offers concrete flooring solutions through its subsidiary, Durofloor Concrete Solutions LLP.

Of its three units in Amravati, one is dedicated to fine wire drawing, while the remaining two units handle steel fiber and mild wire production. Financially, the company reported a net profit of ₹1.49 crore in FY2023, which increased to ₹2.35 crore in FY2024, but then declined to ₹2.07 crore in FY2025.

However, during this period, there was a continuous increase in the total income of the company, which increased to ₹ 57.22 crore at a compound annual growth rate (CAGR) of more than 23%. In the current financial year 2026, during the first six months (April-September 2025), the company has already achieved a net profit of ₹2.47 crore and a total income of ₹32.29 crore. As of the end of the September 2025 quarter, the company had total debt of ₹14.28 crore, while its reserves and surplus stood at ₹12.55 crore.