The scrip listed at Rs 64, matching the issue price. The stock touched a high of Rs 64.50 and a low of Rs 60.80, with around 10.08 lakh shares changing hands on the counter.
Kasturi Metal Composite's IPO was subscribed 16.57 times. The issue opened for bidding on 27 January 2026 and it closed on 29 January 2026. The price band of the IPO was set at Rs 61 to Rs 64 per share.
The IPO comprised fresh issue of 27,52,000 equity shares. The promoter and promoter group shareholding diluted to 67.90% from 92.35% pre-issue.
The company intends to utilise the net proceeds for funding the capital expenditure towards construction of building, mechanical and electrical works, interior work and procurement of plant and machinery for setting up a new manufacturing facility at Amravati, Maharashtra and general corporate purposes.
Ahead of the IPO, Kasturi Metal Composite on 23 January 2025, raised Rs 5 crore from anchor investors. The board allotted 7.82 lakh shares at Rs 64 each to 4 anchor investors.
Kasturi Metal Composite specialises in the manufacturing of steel fiber products for industrial applications. Its portfolio includes loose hook-end, glued hook-end, and flat crimped steel fibres, along with steel wool fibre. Operating under the Duraflex, Durabond, and Durocrete brands, the company serves the construction, engineering, automotive, and infrastructure sectors. Its subsidiary, Durafloor Concrete Solution LLP, provides specialised flooring solutions. With over 20 years of experience, the company supplies critical materials for tunnel shotcrete, precast concrete, industrial flooring, road construction, and automotive friction linings, consistently delivering quality and value across diverse industries. As of 31 October 2025, the company has employed 98 permanent full-time employees, including managerial personnel.
The company recorded revenue from operations of Rs 32.04 crore and net profit of Rs 2.47 crore for the period ended 30 September 2025.