Nilachal Carbo IPO Subscribed 1.83x on Day 3
Nilachal Carbo IPO witnessed strong investor interest, subscribing 1.83 times overall by 5:00 PM on September 10, 2025, the third and final day of bidding.
The company received bids for 1,14,83,200 shares against the 62,68,800 shares available.
The steady increase across the three days reflects rising retail and HNI participation despite no institutional bids.
Founded in 2003, Nilachal Carbo Metalicks Limited is a key player in the production of high-quality, low-sulfur metallurgical coke. Its product line includes:
These products cater to steel, foundry, and other heavy industries where consistency and low impurities are critical.
The company operates a modern beehive-type coke oven battery facility in Chadheidhara, Jajpur, Odisha, with a production capacity of 60,000 MTPA. Expansion plans are underway to add 36 new ovens at its Baramana, Jajpur plant, which will increase LAM Coke capacity by 34,400 MTPA, bringing the total to 94,400 MTPA (or 1,12,400 MTPA including leased capacity). As of October 31, 2024, the workforce consists of 67 employees, with a focus on operational efficiency and environmental standards.
While revenue saw a moderate decline due to fluctuations in raw material prices and export demand, the company maintained healthy margins and a stable bottom line.
As of Wednesday, September 10, 2025, the GMP stood at ₹6 per share. This suggests that Nilachal Carbo IPO was trading in the grey market at approximately ₹91, implying a ₹6 premium over the ₹85 issue price, signaling mild positive sentiment among informal market participants.
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