Nilachal Carbo Metalicks Limited, established in 2003, has carved a specialized space in the manufacturing of FAP grade Ultra & Low Phosphorus – Low Ash Metallurgical Coke. Over the years, the company has developed robust supply chain relationships with major Ferro Chrome manufacturers, emerging as a leading supplier of high-quality coke products.

The company is committed to consistent quality, innovation, and industry leadership, focusing on metallurgical coke solutions for steel and ferrochrome industries.

IPO Details

The Nilachal Carbo Metalicks IPO is a Fixed Price Issue of ₹56.1 crore, consisting of:

• Fresh Issue: 26 lakh shares worth ₹22.1 crore

• Offer for Sale (OFS): 40 lakh shares totaling ₹34.0 crore

• IPO Price: ₹85 per equity share

• Lot Size: 1,600 shares

• Minimum Investment: 2 lots = 3,200 shares = ₹2,72,000

• Market Capitalisation at ₹85/share: ₹211.88 crore

The IPO opens on September 8, 2025, closes on September 10, 2025, and allotment will be finalized on September 11, 2025. The shares are expected to list on BSE SME on September 15, 2025.

Book Running Lead Manager: SUN CAPITAL ADVISORY SERVICES PRIVATE LIMITED
Registrar: KFIN TECHNOLOGIES LIMITED
Market Maker: NNM Securities Private Limited

Grey Market Premium (GMP)

The Grey Market Premium for the IPO is ₹0, reflecting no expected listing gain. GMP is informational only, based on unorganized market demand and supply, and does not guarantee listing performance.

Management and Promoters

The company is led by Mr. Bibhu Datta Panda, Promoter and Managing Director, who has over 20 years of experience in the coal and coke industry. He is responsible for strategic planning, operations management, and overall business growth.

The experienced management team has been instrumental in driving revenue, optimizing operations, and maintaining strong client relationships in the metallurgical coke sector.

Financial Performance

The company has reported steady growth in financials over the past three fiscals:

• Revenue from Operations (₹ Lakhs):

  • FY25: 20,278.89

  • FY24: 26,712.65

  • FY23: 26,845.98

• EBITDA (₹ Lakhs):

  • FY25: 2,712.97

  • FY24: 2,498.05

  • FY23: 2,231.98

• Profit After Tax (₹ Lakhs):

  • FY25: 1,401.57

  • FY24: 1,581.81

  • FY23: 1,481.68

Key Performance Metrics:

• Pre-issue EPS FY24: ₹6.28

• Post-issue EPS FY24: ₹5.62

• Pre-issue P/E: 13.54x | Post-issue P/E: 15.12x

• ROCE FY24: 22.74% | ROE FY24: 17.90% | RoNW: 17.90%

These metrics suggest that the IPO is fairly priced, with strong operational efficiency and sustainable profitability.

Objectives of the IPO

The proceeds from the IPO will be used for:

1. ₹1,346 lakh – Funding capital expenditure for installing a new coke oven plant to expand capacity

2. ₹303.31 lakh – Modernization of existing plant to enhance production efficiency

3. ₹267.46 lakh – General corporate purposes, including working capital, technology upgrades, and business development

These investments aim to expand production capacity, improve quality, and strengthen operational infrastructure, positioning the company for future growth.

Subscription & Listing Process

Investors can subscribe to the IPO from September 8-10, 2025. Allotment will be available on the registrar website from September 11, 2025 using PAN, application number, or DP Client ID. The shares are expected to list on BSE SME on September 15, 2025.

Investment Outlook

Given the Grey Market Premium of ₹0, the IPO is not expected to generate listing gains. However, it offers exposure to a well-established metallurgical coke company with:

• Strong promoter experience

• Stable revenue and profit growth

• Reasonable valuation (post-issue P/E 15.12x vs industry P/E 264x)

• Healthy ROCE and ROE

Investors seeking short-term listing gains are advised to avoid the IPO, while those with a long-term investment horizon and interest in the metallurgical coke sector may consider participation.

Conclusion

Nilachal Carbo Metalicks Limited IPO provides investors a chance to invest in a specialized metallurgical coke manufacturer with robust client relationships, steady growth, and experienced management. Despite limited listing gains, the company’s strong fundamentals, operational efficiency, and growth plans make it a strategically sound long-term investment in the BSE SME segment.

If you want, I can now create a consolidated table comparing all the recent IPOs you shared — including Sharvaya Metals, Karbonsteel Engineering, Taurian MPS, Jay Ambe Supermarkets, Urban Company, and Nilachal Carbo Metalicks — with price band, lot size, GMP, market cap, listing date, and investment recommendation for quick reference.

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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