Gujarat-based aluminium casting manufacturer Swastika Castal is set to launch its initial public offering (IPO) on July 21, marking its debut on the capital markets via the BSE SME platform.
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The fixed price issue will be open until July 23, with the allotment of shares expected to be finalised by July 24. The company’s shares are scheduled to commence trading on July 28.
Swastika Castal aims to raise INR 14.07 crore through the public issue of 21.64 lakh shares at a fixed price of INR 65 per share. The company plans to use INR 5 crore from the IPO proceeds for the purchase of plant and machinery and the construction of new facilities. An additional INR 5.5 crore is earmarked for working capital requirements, while INR 1.6 crore will be directed towards general corporate purposes.
Retail investors can apply with a minimum lot size of 2,000 shares, which translates to an investment of INR 2.6 lakh. For high-net-worth individuals (HNIs), the minimum application requirement is three lots or 6,000 shares, amounting to INR 3.9 lakh.
Established in 1996, Swastika Castal operates a manufacturing unit in Gujarat and provides aluminium casting products for a variety of industrial sectors. Its clients span industries such as electrical equipment and transmission, railways, and diesel engines. The company also exports its products to markets in Europe and the US. It competes with other listed players in the sector, including Thaai Casting.
Swastika Castal has shown strong financial growth in recent years. For fiscal 2025, it reported a profit of INR 2.6 crore, up from INR 0.65 crore in the previous year. Revenue for the same period stood at INR 29.66 crore, compared to INR 22.77 crore in the preceding fiscal.
Horizon Management Private Limited is acting as the book-running lead manager for the IPO, while Accurate Securities & Registry Private Limited is the registrar. Horizon Financial Consultants will serve as the market maker for the issue.
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