Nilachal Carbo Metalicks Limited, established in 2003, has positioned itself as a leading manufacturer of FAP grade Ultra & Low Phosphorus – Low Ash Metallurgical Coke. Over the years, the company has built strong supply chain relationships with all major Ferro Chrome manufacturers, supplying high-quality coke products across the industry.

The company has announced its Initial Public Offering (IPO) under the SME platform of BSE, amounting to ₹56.1 crore. This IPO consists of a Fresh Issue of 26.00 lakh shares worth ₹22.1 crore and an Offer for Sale (OFS) of 40.00 lakh shares totaling ₹34.00 crore. The IPO opens for subscription on September 8, 2025, and will close on September 10, 2025. The allotment of shares is expected on September 11, 2025, with a tentative listing date set for September 15, 2025.

IPO Structure and Pricing

Nilachal Carbo Metalicks IPO is a Fixed Price Issue, with the price of each equity share set at ₹85. The market capitalisation of the company at the IPO price will be approximately ₹211.88 crore. The lot size for retail investors is 1,600 shares, and a minimum investment of 2 lots (3,200 shares) is required, amounting to ₹2,72,000.

SUN CAPITAL ADVISORY SERVICES PRIVATE LIMITED is appointed as the book running lead manager, while KFIN TECHNOLOGIES LIMITED will act as the registrar for the issue. NNM Securities Private Limited is the sole market maker for the IPO.

Grey Market Premium (GMP)

The Grey Market Premium (GMP) for Nilachal Carbo Metalicks IPO is currently expected to be ₹0, reflecting neutral market sentiment. It is important to note that GMP does not represent an official price and is solely dependent on unorganised trading demand and supply. No real trading occurs based on GMP before listing, and it is shared purely for educational and informational purposes.

Live Subscription Status

On the first day of subscription (September 8, 2025), as of 12:30 PM, the IPO was subscribed 0.65 times, indicating moderate investor interest on opening. Retail and institutional investors can monitor the real-time subscription status on the BSE website to track demand trends over the subscription period.

IPO Allotment Process

The allotment of Nilachal Carbo Metalicks IPO shares is expected to be finalised on September 11, 2025, and will be made available on the registrar’s website. Investors can check the allotment status using their PAN, application number, or DP Client ID. The process ensures transparency and allows investors to quickly verify their share allocation before listing.

Objectives of the IPO

The net proceeds from the IPO will be utilised for the following purposes:

1. Capital expenditure: ₹1,346.00 lakh for installing a new Coke Oven Plant to expand capacity.

2. Modernisation: ₹303.31 lakh for upgrading and modernising the existing plant.

3. General corporate purposes: ₹267.46 lakh to support business operations and corporate growth.

These objectives are aimed at enhancing the company’s production capabilities, operational efficiency, and overall market presence.

Subscription Timeline

• IPO Open Date: September 8, 2025

• IPO Close Date: September 10, 2025

• Allotment Date: September 11, 2025

• Tentative Listing Date: September 15, 2025

Industry Overview

The metallurgical coke industry is critical for steel production and other ferro alloy manufacturing processes. Nilachal Carbo Metalicks, with its specialised FAP grade low ash and low phosphorus coke, is strategically positioned to meet the growing demand from ferro chrome and steel manufacturers. The company’s long-standing relationships and reputation for high-quality supply further strengthen its market position.

The IPO provides an opportunity for investors to participate in a well-established SME company with a focused product line and potential for growth in the industrial manufacturing sector.

Conclusion

The Nilachal Carbo Metalicks IPO offers investors a chance to invest in a niche segment of metallurgical coke manufacturing, backed by strong industry experience and a clear utilisation plan for proceeds. With a fixed price of ₹85 per share, GMP at ₹0, and allocation for modernisation and expansion, this IPO is expected to attract SME-focused investors seeking growth in the industrial manufacturing space.

The Upcoming IPOs in this week and coming weeks are Karbonsteel Engineering, Taurian MPS, L. T. Elevator, Galaxy Medicare, Airfloa Rail Technology, Dev Accelerator, Jay Ambe Supermarkets, Urban Company, Shringar House of Mangalsutra, .

The Current active IPO are Nilachal Carbo Metalicks, Krupalu Metals, Vashishtha Luxury Fashion, Sharvaya Metals, Vigor Plast India, Austere Systems.

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