Classic Electrodes (India) is engaged in the business of manufacturing welding electrodes and providing engineering solutions to customers both in domestic and international market. The Company has been in existence for (27) twenty-seven years now and provides a wide range of product offerings including General Purpose Electrodes, Low Alloy Electrodes, Low Hydrogen Electrodes, Stainless Steel Electrodes, Hard Facing Electrodes, Cast Iron Electrodes, Non-Ferrous Electrodes, Low Heat Input Electrodes, Cutting and Gauging Electrodes, Mig Wires etc.

Classic Electrodes (India), an Book Built Issue, amounting to ₹ 41.51 Crores, consisting entirely an Fresh Issue of 47.71 Lakh Shares. The subscription period for the Classic Electrodes (India) IPO opens on August 22, 2025, and closes on August 26, 2025. The allotment is expected to be finalized on or about Thursday, August 28, 2025, and the shares will be listed on the NSE SME with a tentative listing date set on or about Monday, September 01, 2025.

The Share Price Band of Classic Electrodes (India) IPO is set at ₹ 82 to ₹ 87 per equity share. The Market Capitalisation of the Classic Electrodes (India) at IPO price of ₹ 87 per equity share will be ₹ 156.30 Crores. The lot size of the IPO is 1,600 shares. Individual investors are required to invest a minimum of 2 lots (3,200 shares), amounting to ₹ 2,78,400.

GYR Capital Advisors Private Limited is the book running lead manager of the Classic Electrodes (India), while MUFG Intime India Private Limited (Formerly Link Intime India Private Limited) is the registrar for the issue. Winance Financial Services Private Limited and Giriraj Stock Broking Private Limited are the Market Maker for Classic Electrodes (India) IPO.

Classic Electrodes (India) Limited IPO GMP Today
The Grey Market Premium of Classic Electrodes (India) IPO is expected to be ₹ 18 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.

Classic Electrodes (India) Limited IPO Live Subscription Status Today: Real-Time Update
As of 07:00 PM on 26 August, 2025, the Classic Electrodes (India) Limited IPO live subscription status shows that the IPO subscribed 165.46 times on its Final Day of subscription period. Check the Classic Electrodes (India) IPO Live Subscription Status Today at NSE.

Classic Electrodes (India) IPO Anchor Investors Report
Classic Electrodes (India) has raised ₹ 11.70 Crores from Anchor Investors at a price of ₹ 87 per shares in consultation of the Book Running Lead Managers. The company allocated 13,45,600 equity shares to the Anchor Investors. Check Full List of Classic Electrodes (India) Anchor Investor List.

Note:- Equity Shares allotted to Anchor Investors (if any) are allotted from Qualified Institutional Buyers (QIBs) reservation portion.
Note:- The Number of shares offered shown IPO subscription section table is calculated at the lower end of the price band and Number of shares calculated in IPO details table section is calculated at upper end of the price band in case of Book Building Issue, so there can be difference. This is because we assume shares will be issued by the company at upper band as Anchor Investors also subscribe at upper band and shares will be issued at lower band only if in case of undersubscription of IPO.
Note:- Market Maker portion (if any) are not shown separately in subscription table and included in NIIs reservation portion.

Classic Electrodes (India) Limited Day Wise IPO GMP Trend

Date	IPO Price	Expected Listing Price	GMP	Last Updated
19 August 2025	₹ 87	₹ 105	₹ 18 (20.68%)	07:00 PM; 19 August 2025

Classic Electrodes (India) Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online
Classic Electrodes (India) IPO allotment date is 28 August, 2025, Thursday. Classic Electrodes (India) IPO Allotment will be out on 28th August, 2025 and will be live on Registrar Website from the allotment date. Check Classic Electrodes (India) IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Classic Electrodes (India) Limited IPO from the dropdown list of IPOs
- Enter your application number, PAN, or DP Client ID
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.

Objectives of Classic Electrodes (India) Limited IPO
Classic Electrodes (India) to utilise the Net Proceeds towards the following objects: 
1. ₹ 147.49 Lakh is required for Funding capital expenditure of the company to purchase Plant and Machinery;
2. ₹ 1,000.00 Lakh is required for Repayment of a portion of certain outstanding borrowing availed by the company;
3. ₹ 1,660.00 Lakh is required for Funding the Working Capital requirements of the company;
4. General Corporate Purposes

Refer to Classic Electrodes (India) Limited RHP for more details about the Company.

Check latest IPO Review & analysis, Live IPO GMP today, Live IPO Subscription Status Today, Share Price, Financial Information and other details before applying in the IPO.

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About Classic Electrodes (India) Limited

BUSINESS OVERVIEW

Classic Electrodes (India) Ltd. is engaged in the manufacturing of welding electrodes and providing engineering solutions to customers across both domestic and international markets. Established in 1997, the company has over 27 years of experience and offers an extensive product portfolio, including General Purpose Electrodes, Low Alloy Electrodes, Low Hydrogen Electrodes, Stainless Steel Electrodes, Hard Facing Electrodes, Cast Iron Electrodes, Non-Ferrous Electrodes, Low Heat Input Electrodes, Cutting and Gauging Electrodes, and MIG Wires.

The company emphasizes alloy and process development, quality, and design, enabling the development of specialized products tailored to customer requirements. With a skilled team of over 95 employees (as of February 28, 2025) and decades of industry expertise, the company is equipped to design, develop, and manufacture complex and customized industrial equipment and components for OEMs and end-user industries.

Operations and Business Model

Classic Electrodes specializes in the manufacturing of general-purpose electrodes and MIG wires, which together contribute to the majority of its turnover. Trading activities account for approximately 30–35% of total revenue. The company procures wire rods, rutile, and other raw materials mainly for captive consumption, while surplus wire rods are sold to industry peers. Bulk procurement of wire rods provides cost advantages through volume discounts, allowing profitable trading with competitive margins.

The company operates from two manufacturing units:

• Unit I: Dhulagarh, West Bengal – engaged in the manufacturing of Welding Electrodes and MIG Wires.

• Unit II: Jhajjar, Haryana – focused exclusively on MIG Wires.

A third facility, Unit III at Bahadurgarh, Haryana, previously manufactured electrodes and MIG wires but was closed in FY 2023–24. Both operating units are equipped with infrastructure for raw material storage, product manufacturing, finished goods storage, and quality control measures. Strategic locations in West Bengal and Haryana provide easy access to transportation, raw material sourcing, and customer markets.

The registered office is situated at 1A, Bonfield Lane, Kolkata, West Bengal, 700001, while the corporate office is located at Unit 201, 2nd Floor, Bus Terminus Commercial Complex, Plot BG-12 AA-1B, New Town, North 24 Parganas, West Bengal, 700156.

Certifications and Quality Standards

Classic Electrodes (India) Pvt. Ltd. is ISO 9001:2008 certified by Moody International Certification Limited. It holds a Bureau of Indian Standards (BIS) license and is registered under the Directorate General of Supplies & Disposal (DGS&D), Government of India. The company maintains well-equipped Chemical and Physical Testing Laboratories with robust Quality Assurance Systems supervised by experienced personnel.

Product Portfolio

The company manufactures both high-volume general-purpose electrodes and special consumables, including Low Hydrogen, Low Alloy, Stainless Steel, Cast Iron, Hard Surfacing, and Reclamation electrodes. Tailor-made solutions are provided for specific industrial requirements, supported by a strong pan-India distribution network.

The diversified portfolio includes:

• General Purpose Electrodes: Suitable for mild and low-carbon steels in fabrication, automotive, shipbuilding, and sugar plant machinery.

• Low Alloy Electrodes: Designed for weathering steels, medium and high-tensile steels.

• Low Hydrogen Electrodes: Used for mild, medium tensile, and low alloy steels with high radiographic soundness.

• Stainless Steel Electrodes: Applied in chemical plants, food and dairy, pumps, and valve components.

• Hard Facing Electrodes: For gears, shafts, hammers, pulleys, spindles, and axles with high abrasion resistance.

• Cast Iron Electrodes: For repair and fabrication of cast iron machine components and dissimilar joints.

• Non-Ferrous Electrodes: Suitable for copper and copper alloys, bearings, impellers, and propellers.

• Low Heat Input Electrodes: Primarily used in railway components, tanks, pipes, and sheet metal works.

• Cutting and Gauging Electrodes: For piercing and cutting ferrous and non-ferrous metals.

• MIG Wires: For welding stainless steel plates, sheets, pipes, and tubes used in chemical, fertilizer, and refinery applications.

Growth and Financial Performance

The company has consistently expanded through product diversification and technological upgrades. Notable milestones include:

• 2000 – Factory approval by the Bureau of Indian Standards.

• 2004 – Factory approval by the Research Designs and Standards Organisation.

• 2009 – Relocation to Dhulagarh with increased capacity and diversification into Mild Steel MIG Wire.

• 2014 – Establishment of Unit II in Bahadurgarh, Haryana.

• 2021 – Introduction of advanced technology for Stainless Steel MIG Wire production.

• FY 2023–24 – Relocation of Unit II to Jhajjar, Haryana, enhancing production efficiency.

In FY 2024, the company reported significant revenue growth driven by a strategic shift towards high-margin products like Stainless Steel MIG Wires and Electrodes.

• Total Revenue increased from ₹15,087.13 lakhs in FY 2023 to ₹19,382.12 lakhs in FY 2024 (+28.5%).

• SS MIG Wires revenue doubled (+106.1%), with volumes increasing by 112%.

• MIG Wires (excluding SS) grew by 29.9% in revenue and 32.5% in volumes.

• Electrodes achieved a steady growth of 4.3% in revenue and 5.9% in volumes.

• Trading revenue rose by 42.9%, supported by profitable trading of wire rods and other products.

This performance highlights strong market demand, effective product mix optimization, and higher sales conversion from inventory, reinforcing the company’s position as a leading player in the welding consumables industry.

As of February 28, 2025, the company have an employee base of  95 permanent employees. The Banker to the company is ICICI Bank Limited.

INDUSTRY ANALYSIS

Assessment of the Welding Consumables Industry

Welding consumables play a crucial role in multiple industries, enabling the production of high-quality and durable products. While they may seem like small components, the choice of the right consumables—such as wires and electrodes—directly impacts the strength, integrity, and appearance of the final weld.

Welding Consumables Market in India

In India, manufacturing heavily depends on welding as the most effective method for joining metals. No other process offers such wide-ranging benefits. Welding consumables—materials that enable the joining of two metals or alloys—determine the overall quality and strength of the weld joint. The choice of consumable depends on the type of base metal, the welding technique applied, and the final product’s application.

Key Product Segments

Filler Wires are essential for reinforcing weld joints, ensuring durability and minimizing the risk of cracks under stress. Available for MIG, TIG, and SAW welding, filler wires come in different forms:

• Solid wires, often copper-coated to prevent oxidation, improve conductivity, and extend tip life.

• Flux-cored wires, which create protective shielding during welding to guard against contaminants.

• Metal-cored wires, filled with alloys and stabilizers, offering advantages like higher productivity, reduced fumes, and cost efficiency.

Choosing a filler metal with a composition similar to the base material reduces porosity, cracking, and distortion, ensuring a more reliable weld.

Welding Electrodes are metallic rods that melt under intense electrical heat to join base metals. They are available in three main types:

• Bare electrodes, used in applications where coatings are unnecessary.

• Lightly coated electrodes, providing enhanced performance compared to bare types.

• Shielded arc electrodes, with a thick coating that protects the weld pool from oxides and nitrides, enabling stronger and higher-quality welds.

Electrode coatings improve insulation, allow the use of high current, speed up the welding process, and make overhead and vertical welding more efficient.

Market Size and Growth Drivers

The Indian welding consumables market was valued at US$ 1.17 billion in 2023 and is expected to reach US$ 1.57 billion by 2028, growing at a CAGR of 6.1%.

Growth is being driven by massive infrastructure development, including roads, bridges, ports, and airports, which require reliable welding solutions for structural stability. Additionally, the expansion of industries such as heavy engineering, energy, oil & gas, shipbuilding, railways, power, transportation, and automotive is boosting demand.

Government initiatives like the National Infrastructure Pipeline (₹111 lakh crore investment between FY20–25), along with industrial reforms such as ‘Make in India’ and ‘Atmanirbhar Bharat’, are expected to accelerate India’s push towards becoming a global manufacturing hub, thereby fueling the demand for welding consumables.

BUSINESS STRENGTHS

1. Technical Expertise: A deep understanding of electrode manufacturing processes, materials, and technology.

2. Quality Control: Ability to produce high-quality electrodes consistently, meeting industry standards and customer specifications.

3. Innovation: Capacity to innovate new electrode designs, materials, or production techniques, staying ahead of competitors and addressing evolving market demands.

4. Customization: Flexibility to customize electrodes according to specific client needs, offering tailored solutions.

5. Supply Chain Management: Efficient management of the supply chain, ensuring timely sourcing of raw materials and components.

6. Distribution Network: Strong distribution channels ensuring widespread availability of products.

7. Customer Service: Excellent customer service and technical support, building long-term relationships with clients.

8. Research and Development: Investment in R&D to continuously improve products and explore new opportunities.

9. Cost Efficiency: Streamlined manufacturing processes leading to cost efficiency and competitive pricing.

10. Brand Reputation: A positive reputation built on reliability, performance, and customer satisfaction.

BUSINESS RISK FACTORS & CONCERNS

1. Dependence on Domestic Market
A significant majority of revenue is generated from the domestic market, with limited sales in Bangladesh and Nepal. Any downturn in domestic demand or failure to maintain a broad customer base could adversely impact revenues and market share.

2. Geographic Concentration of Manufacturing Facilities
All manufacturing operations are concentrated in Dhulagarh, West Bengal and Jhajjar, Haryana, with planned expansion in West Bengal. Localized social unrest, natural calamities, policy changes, or disruptions in these regions could materially affect operations. Additionally, shutdowns or slowdowns at approved facilities may halt production of certain products, leading to revenue loss and customer non-compliance.

3. Operational and Production Risks
Manufacturing activities are exposed to risks such as political instability, workforce productivity issues, regulatory compliance, equipment failure, power and water disruptions, industrial accidents, and pandemics. Machinery breakdowns or delays in rectification may increase costs, disrupt production cycles, and delay customer deliveries.

4. Raw Material Dependency
The business relies heavily on critical raw materials such as wire rods and rutile. Any supply chain disruption, shortage, or price volatility can directly impact production costs, profitability, and cash flows.

5. Revenue Concentration in West Bengal
A substantial portion of revenue comes from West Bengal—70.01% (Feb 28, 2025), 72.94% (FY 2024), 69.63% (FY 2023), and 64.61% (FY 2022). Adverse developments such as competition, reduced demand, natural calamities, political instability, or policy changes in this region could significantly affect revenue, cash flows, and financial performance.

Summary :
The operations of Classic Electrodes (India) Limited face risks primarily due to dependence on the domestic market, geographic concentration of manufacturing facilities, raw material availability and price volatility, and high reliance on revenue from West Bengal. Any disruptions across these areas could materially affect business performance and financial stability.