BSE SME Nilachal Carbo Metalicks stumbles at the start

Shares of Nilachal Carbo Metalicks was trading at Rs 71.40 on the BSE, a discount of 16% compared with the issue price of Rs 85.

The scrip was listed at Rs 68, a discount of 20% over the initial public offer (IPO) price. The stock is currently frozen at its upper limit of 5% over its listing price.

The counter hit a high of Rs 71.40 and a low of Rs 64.60. About 42.13 lakh shares of the company changed hands at the counter.

Nilachal Carbo Metalicks' IPO was subscribed 4.85 times. The issue opened for bidding on 8 September 2025 and it closed on 11 September 2025. The price of the IPO was fixed at Rs 85 per share.

The IPO comprised 66,00,000 equity shares, including a fresh issue of 26,00,000 equity shares and offer for sale (OFS) of 40,00,000 equity shares.

The company intends to utilize the net proceeds to meet funding capital expenditure for installing one coke oven plant for expansion of capacity, funding modernization of existing plant and general corporate purposes.

Nilachal Carbo Metalicks is engaged in the manufacturing of Low Ash Metallurgical (LAM) Coke, supplying to several leading ferrochrome manufacturers across the country. Its owned plant, located at Baramana, Jajpur, Odisha, has a capacity of 60,000 metric tonnes per annum (MTPA). The company also operates a second plant on a leased basis in Visakhapatnam, with a capacity of 18,000 MTPA. It is now proposing an expansion with an additional capacity of 34,400 MTPA at the available vacant land within its owned plant premises. As of 5 July 2025, the company had 65 employees on its payroll.

The company recorded revenue from operations of Rs 201.51 crore and net profit of Rs 14.02 crore for the period ended 31 March 2025.

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