NSE SME Swastika Castal steadies its course on market debut

Shares of Swastika Castal was trading at Rs 65.05 on the NSE, a premium of 0.08% compared with the issue price of Rs 65.

The scrip was listed at Rs 67, a premium of 3.08% compared with the initial public offer (IPO) price. The stock is currently down 2.91% over its listing price.

The counter hit a high of Rs 67.50 and a low of Rs 63.65. About 8.24 lakh shares of the company changed hands at the counter.

Swastika Castal's IPO was subscribed 4.87 times. The issue opened for bidding on 21 July 2025 and it closed on 23 July 2025. The price of the IPO was fixed at Rs 65 per share.

The IPO comprised fresh issue of 21,64,000 equity shares. The promoter and promoter group shareholding diluted to 73.49% from 100% pre-issue.

The company intends to utilize the net proceeds for capital expenditure, including the acquisition of plant and machinery, construction of sheds and buildings, working capital requirements and general corporate purposes.

Swastika Castal began operations in 1996 with the objective of engaging in the aluminium castings business by establishing a foundry. The company currently operates with advanced machinery, inspection, and testing facilities in India, supported by a skilled team of metallurgists and professionals. It has extensive experience in providing customized casting products to both domestic and international clients. The company primarily serves MNCs and large corporates across sectors such as electrical and railways. The company had total 79 employees (including 48 contract workers).

The company recorded revenue from operations of Rs 29.66 crore and net profit of Rs 2.63 crore for the period ended 31 March 2025.

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