IPO Control

Classic Electrodes IPO Subscribed 15.68x on Day 2

Classic Electrodes IPO Subscription Status

On the second day of bidding (25th August 2025, till 5:00 PM), the Classic Electrodes IPO was subscribed 15.68 times overall.

QIB portion: 3.01x
NII portion: 20.30x
Retail (RII): 20.94x

By the end of Day 2, the IPO received bids for 4,93,42,400 shares against an issue size of 31,47,200 shares.

Day 1 subscription stood at 1.98x.
Day 2 subscription jumped to 15.68x, showing strong demand, particularly from retail and NII investors.

About Classic Electrodes (India) Limited

Incorporated in 1997, Classic Electrodes (India) Ltd is a leading manufacturer of welding consumables, specializing in electrodes and MIG wires. The company is known for providing engineering solutions catering to both domestic and international markets.

As of July 31, 2024, the company employed 78 permanent staff.

Product Portfolio:

Mild steel electrodes
Stainless steel electrodes
Cast iron electrodes
Deep penetration electrodes
MIG wires for industrial welding

Manufacturing Facilities:

Unit 1: Dulagarh, West Bengal
Unit 2: Jhajjar, Haryana
Earlier, the company also had three units in West Bengal, which were shut down in FY23-24 due to restructuring and optimization of operations.

Its strategic locations ensure easy access to raw materials, transportation, and customer markets, supporting cost efficiency and smooth operations.

Financial Performance

Classic Electrodes has shown strong financial growth in recent years:

Revenue: ₹194.41 crores in FY 2024 vs. ₹151.13 crores in FY 2023 (↑28.6%)
Profit After Tax (PAT): ₹12.28 crores in FY 2024 vs. ₹2.08 crores in FY 2023 (almost 6x growth)
Net Profit Margin: Improved from 1.37% in FY23 to 6.31% in FY24
EBITDA Growth: Supported by higher demand and improved operating leverage

This sharp rise indicates a strong turnaround in profitability and efficiency.