KVS Castings Ltd IPO
Status: Closed
Overview
IPO date
26 Sept 2025 to 30 Sept 2025
Face value
₹ 10 per share
Price
₹ 53 to ₹56 per share
Issue Size
4,970,000 shares
(aggregating up to ₹ 27.83 Cr)
(aggregating up to ₹ 27.83 Cr)
Allotment Date
01 Oct 2025
Listing at
NSE
Issue type
Book Building - SME
Sector
Castings, Forgings & Fastners
Objectives of KVS Castings Ltd IPO
KVS Castings Ltd IPO Strategy
About KVS Castings Ltd
Unlock Stock of the Month
T&C*
Strengths vs Risks of KVS Castings Ltd
Know the pros & cons
Strengths
Timely and safe deliveries.- In-house manufacturing Facilities.
- Experienced management team and a motivated and efficient work force.
- Cordial relations with our clients.
Risks
- We are majorly dependent on the performance of the Automobile Sector in India. Any adverse changes in the
conditions affecting these markets can adversely impact on our business, results of operations and financial
condition.
- We are majorly dependent on the Auto Component products, any decline in the demand for these products can
affect our revenue and result of operations.
- There are outstanding legal proceedings involving our Company, Promoters and Group Company. Any adverse
decision in such proceedings may have a material adverse effect on our business, results of operations and
financial condition.
- We had negative cash flow from investing and financing activities in the past and may continue to have negative
cash flows in the future.
- Our contingent liabilities as stated in our Restated Financial Statements could adversely affect our financial
conditions.
- We have significant power requirements for continuous running of our manufacturing units. Any disruption
to our operations on account of interruption in power supply or any irregular or significant hike in power
tariffs may have an effect on our business, results of operations and financial condition.
- The properties used by the Company for the purpose of its operations are not owned by us. Any termination of
the relevant lease or leave and license agreements could adversely affect our operations.
- Under-utilization of our current manufacturing facility and any inability to effectively utilize our proposed
manufacturing capacity could have an adverse effect on our business, future prospects, and future financial
performance.
- Our top ten customers contributed significant portion of our revenues during the current and previous financial
years. Any loss of business from one or more of them may adversely affect our revenues and profitability.
- Kashi Vishwanath Steels Pvt. Ltd. (KVSPL), a group company of KVS Castings Limited, was imposed a
penalty of Rs. 6,00,000 by SEBI for involvement in illiquid stock options at BSE, we cannot assure that we will
not face such situation in future which could affect our business, financial condition and increased regulatory
scrutiny.
- Our Top 10 Suppliers contribute a significant portion of our raw material purchased during previous 3
financial years. Any dispute with one or more of them may adversely affect our business operations.
- Majority of our state-wise revenues from operations for the years ended March 31, 2025, March 31, 2024, and
March 31, 2023 is majorly derived from Uttarakhand. Any adverse developments affecting our operations in
this state could have an adverse impact on our revenue and results of operations.
- Our operations rely on third-party transporters for the timely delivery of raw materials from our suppliers and
the efficient distribution of our products to clients. Any failure on the part of these transporters to fulfill their
obligations may significantly impact on our business, financial condition, and operational results.
- Our Company may incur penalties or liabilities for non-compliances with certain provisions of the GST Act,
Income Tax Act, and other applicable laws in the last 5 Years.
- Our company was not able to spend the CSR expenditure for the financial year 2022-23 within the timeline as
per the Companies Act 2023 and relevant rule made thereunder.
- Any loss of or breakdown of operations at our manufacturing facility may have a material adverse effect on
our business, financial condition and results of operations.
- Our business is manpower intensive and any unavailability of our employees, strikes, work stoppages, demand
in salary increased or changes in regulations governing to employees may have an adverse impact on our cash
flows and results of operations.
- The intellectual property, including our company's logo KVS PREMIER FOUNDRY DIVISION are not owned by us. Any changes,
disputes, or termination of agreements to use the said registered trademark could disrupt the company's ability
to operate under established brand identity.
- Our Company have made delays in compliance with certain statutory provisions of the Companies Act, 2013.
Such non- compliances / delayed filings may attract penalties and prosecution against the Company and its
directors which could impact the financial position of the Company to that extent.
- Increased cost of raw materials for inventory and, in particular, of Iron Scrap and Mild Steel Scrap may affect
our business and results of operations.
- The average cost of acquisition of Equity Shares by our Promoters could be lower than the Issue Price.
- We have issued Equity Shares during the last one year at a price that may be below the Issue Price.
- We require certain approvals and licenses in the ordinary course of business and the failure to successfully
obtain/renew such registrations would adversely affect our operations, results of operations and financial
condition.
- Our company's Board of Directors does have any experience of listed companies.
- Our Company has entered into certain related party transactions in the past and may continue to do so in the
future.
- Our Company's operation and growth is dependent upon successful implementation of our business strategies.
- Our success is dependent on our Individual Promoters, senior management and skilled manpower. Our inability
to attract and retain key personnel or the loss of services of our Individual Promoters or Managing Director
and Directors may have an adverse effect on our business prospects.
- Our failure to identify and understand evolving industry trends and preferences and to develop new products
to meet our customers' demands may materially adversely affect our business.
- If we fail to maintain an effective system of internal controls, we may not be able to successfully manage or
accurately report our financial risk.
- Certain Agreements, deeds or licenses and certificates may be in the previous name of the company, we have
to update the name of our company in all the statutory approvals and certificates due to the conversion of our
Company.
- There is no monitoring agency appointed by Our Company and the deployment of funds are at the discretion
of our Management and our Board of Directors, though it shall be monitored by our Audit Committee.
- Certain key performance indicators for certain listed industry peers included in this Red Herring Prospectus
have been sourced from public sources and there is no assurance that such financial and other industry
information is complete.
- Our Company's future funding requirements, in the form of further issue of capital or other securities and/or
loans that might be availed by us, may turn out to be prejudicial to the interest of the shareholders depending
upon the terms and conditions on which they are raised.
- Industry information included in this Red Herring Prospectus has been derived from an industry report from
various websites. The reliability on the forecasts of the reports could be incorrect and would significantly impact
our operations.
- Our insurance policy may not be adequate to cover all the losses which a business could incur. Any inability to
maintain adequate cover from material adverse incidents may adversely affect our operation and profitability.
- Our ability to pay dividends in the future will depend upon our future earnings, financial condition, cash flows,
working capital requirements, capital expenditure and restrictive covenants in our financing arrangements.
- In the event there is any delay in the completion of the Offer, or delay in schedule of implementation, there
would be a corresponding delay in the completion of the objects of this offer which would in turn affect our
revenues and results of operations.
- Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject
to certain compliance requirements, including prior approval of the shareholders of our Company.
KVS Castings Ltd Peer Comparison
Understand the company’s industry standing
KVS Castings Ltd
Universal Autofoundry Ltd
Thaai Casting Ltd
Face Value
10
10
10
Standalone / Consolidated
Standalone
Standalone
Standalone
Total Income Rs. Cr.
6.6253
2.3537
11.7337
EPS-Basis
4.5
1.98
5.07
EPS-Diluted
---
---
---
NAV Per Share
24.99
58.7
36.31
P/E-Basic EPS
---
---
---
P/E-Diluted EPS
---
---
---
RONW(%)
22
3.34
13.97
Latest NAV Period
---
---
---
Latest NAV
---
---
---
How to check the allotment status of KVS Castings Ltd IPO?
Follow the steps
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
Select company from dropdown menu.
Enter details- PAN, Application number or DP client ID
Get your allotment status
Open link to the registrar using this URL (https://evault.kfintech.com/ipostatus/).
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The IPO opens on 26 Sept 2025 & closes on 30 Sept 2025.
KVS Castings Limited was originally formed as a Partnership Firm in the name and style of 'Kashi Enterprises' pursuant to Deed of Partnership dated August 20, 2005. Further, 'Kashi Enterprises' was converted from Partnership Firm to a Private Company with the name and style of 'KVS Castings Private Limited' and received a Certificate of Incorporation from the Registrar of Companies, Delhi dated June 10, 2019. Subsequently, Company converted from a Private Company to Public Company and the name of the Company was changed to 'KVS Castings Limited' and a Fresh Certificate of Incorporation was issued on September 09, 2024, by the Registrar of Companies, Central Processing Center.
The Company started Hand Molding Facilities in year 2007. It started production of manganese steel casting in 2008 and installed heat treatment furnace with water quenching facility, started supply for Sponge Iron Plants in 2009. Following the NCLT order dated June 15, 2020, M/s Kamlapati Infrastructure Limited, M/s Sidhivinayak Horticulture Limited, M/s Sharma Investments Limited and M/s Tomar Investments got merged with the Company in 2019-20. The Company supplied Assembly parts to JBM (For EV) in 2023. The Company has installed Horizontal milling machine (HMM) for the Steering housing machining of commercial vehicles in 2024.
As the Foundry Division of the KVS Premier Group, Company specializes in quality ferrous castings. Company is involved in manufacturing and production of Cast Iron and Ductile Iron castings. From cast iron to stainless steel, it work a total casting solution with a portfolio of more than 150 products, including Suspension Brackets, Brake Drums, Gear Box Housing, Pump Body, Oil Filters and more. In addition to this, Company serve as castings supplier for various industries, including: Automobile including passenger and commercial vehicles, Railway, Heavy Machinery and Equipment, Energy and Power Generation, Agricultural Machinery includes Tractor, Infrastructure and Construction.
Company launched the IPO of 49,70,000 equity shares of face value of Rs 10 each by raising Rs 27.83 Cr through fresh issue in October, 2025.
KVS Castings Ltd IPO will close on 30 Sept 2025.
- Timely and safe deliveries.
- In-house manufacturing Facilities.
- Experienced management team and a motivated and efficient work force.
- Cordial relations with our clients.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Arpan Jindal | 1308515 | 9.49 | 1308515 | 6.98 |
| 2 | Devendra Kumar Agarwal | 1306793 | 9.48 | 1306793 | 6.97 |
| 3 | Rekha Agarwal | 1306424 | 9.48 | 1306424 | 6.97 |
| 4 | Venu Jindal | --- | --- | --- | --- |
| 5 | Kumaun Garhwal Infr.Ind.Corp P | 3575610 | 25.94 | 3575610 | 19.07 |
| 6 | Kashi Vishwanath Steel Private | 2082923 | 15.11 | 2082923 | 11.11 |
| 7 | Annapurna Steels Private Limit | 2460287 | 17.85 | 2460287 | 13.12 |
| 8 | KVS Ispat Private Limited | 3280 | 0.02 | 3280 | 0.02 |
- We are majorly dependent on the performance of the Automobile Sector in India. Any adverse changes in the conditions affecting these markets can adversely impact on our business, results of operations and financial condition.
- We are majorly dependent on the Auto Component products, any decline in the demand for these products can affect our revenue and result of operations.
- There are outstanding legal proceedings involving our Company, Promoters and Group Company. Any adverse decision in such proceedings may have a material adverse effect on our business, results of operations and financial condition.
- We had negative cash flow from investing and financing activities in the past and may continue to have negative cash flows in the future.
- Our contingent liabilities as stated in our Restated Financial Statements could adversely affect our financial conditions.
- We have significant power requirements for continuous running of our manufacturing units. Any disruption to our operations on account of interruption in power supply or any irregular or significant hike in power tariffs may have an effect on our business, results of operations and financial condition.
- The properties used by the Company for the purpose of its operations are not owned by us. Any termination of the relevant lease or leave and license agreements could adversely affect our operations.
- Under-utilization of our current manufacturing facility and any inability to effectively utilize our proposed manufacturing capacity could have an adverse effect on our business, future prospects, and future financial performance.
- Our top ten customers contributed significant portion of our revenues during the current and previous financial years. Any loss of business from one or more of them may adversely affect our revenues and profitability.
- Kashi Vishwanath Steels Pvt. Ltd. (KVSPL), a group company of KVS Castings Limited, was imposed a penalty of Rs. 6,00,000 by SEBI for involvement in illiquid stock options at BSE, we cannot assure that we will not face such situation in future which could affect our business, financial condition and increased regulatory scrutiny.
- Our Top 10 Suppliers contribute a significant portion of our raw material purchased during previous 3 financial years. Any dispute with one or more of them may adversely affect our business operations.
- Majority of our state-wise revenues from operations for the years ended March 31, 2025, March 31, 2024, and March 31, 2023 is majorly derived from Uttarakhand. Any adverse developments affecting our operations in this state could have an adverse impact on our revenue and results of operations.
- Our operations rely on third-party transporters for the timely delivery of raw materials from our suppliers and the efficient distribution of our products to clients. Any failure on the part of these transporters to fulfill their obligations may significantly impact on our business, financial condition, and operational results.
- Our Company may incur penalties or liabilities for non-compliances with certain provisions of the GST Act, Income Tax Act, and other applicable laws in the last 5 Years.
- Our company was not able to spend the CSR expenditure for the financial year 2022-23 within the timeline as per the Companies Act 2023 and relevant rule made thereunder.
- Any loss of or breakdown of operations at our manufacturing facility may have a material adverse effect on our business, financial condition and results of operations.
- Our business is manpower intensive and any unavailability of our employees, strikes, work stoppages, demand in salary increased or changes in regulations governing to employees may have an adverse impact on our cash flows and results of operations.
- The intellectual property, including our company's logo KVS PREMIER FOUNDRY DIVISION are not owned by us. Any changes, disputes, or termination of agreements to use the said registered trademark could disrupt the company's ability to operate under established brand identity.
- Our Company have made delays in compliance with certain statutory provisions of the Companies Act, 2013. Such non- compliances / delayed filings may attract penalties and prosecution against the Company and its directors which could impact the financial position of the Company to that extent.
- Increased cost of raw materials for inventory and, in particular, of Iron Scrap and Mild Steel Scrap may affect our business and results of operations.
- The average cost of acquisition of Equity Shares by our Promoters could be lower than the Issue Price.
- We have issued Equity Shares during the last one year at a price that may be below the Issue Price.
- We require certain approvals and licenses in the ordinary course of business and the failure to successfully obtain/renew such registrations would adversely affect our operations, results of operations and financial condition.
- Our company's Board of Directors does have any experience of listed companies.
- Our Company has entered into certain related party transactions in the past and may continue to do so in the future.
- Our Company's operation and growth is dependent upon successful implementation of our business strategies.
- Our success is dependent on our Individual Promoters, senior management and skilled manpower. Our inability to attract and retain key personnel or the loss of services of our Individual Promoters or Managing Director and Directors may have an adverse effect on our business prospects.
- Our failure to identify and understand evolving industry trends and preferences and to develop new products to meet our customers' demands may materially adversely affect our business.
- If we fail to maintain an effective system of internal controls, we may not be able to successfully manage or accurately report our financial risk.
- Certain Agreements, deeds or licenses and certificates may be in the previous name of the company, we have to update the name of our company in all the statutory approvals and certificates due to the conversion of our Company.
- There is no monitoring agency appointed by Our Company and the deployment of funds are at the discretion of our Management and our Board of Directors, though it shall be monitored by our Audit Committee.
- Certain key performance indicators for certain listed industry peers included in this Red Herring Prospectus have been sourced from public sources and there is no assurance that such financial and other industry information is complete.
- Our Company's future funding requirements, in the form of further issue of capital or other securities and/or loans that might be availed by us, may turn out to be prejudicial to the interest of the shareholders depending upon the terms and conditions on which they are raised.
- Industry information included in this Red Herring Prospectus has been derived from an industry report from various websites. The reliability on the forecasts of the reports could be incorrect and would significantly impact our operations.
- Our insurance policy may not be adequate to cover all the losses which a business could incur. Any inability to maintain adequate cover from material adverse incidents may adversely affect our operation and profitability.
- Our ability to pay dividends in the future will depend upon our future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in our financing arrangements.
- In the event there is any delay in the completion of the Offer, or delay in schedule of implementation, there would be a corresponding delay in the completion of the objects of this offer which would in turn affect our revenues and results of operations.
- Any variation in the utilization of the Net Proceeds as disclosed in this Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of our Company.
The Issue type of KVS Castings Ltd is Book Building - SME.
The minimum application for shares of KVS Castings Ltd is 4000.
The total shares issue of KVS Castings Ltd is 4970000.
Initial public offering up to 49,70,000 equity shares of Rs. 10/- each ("Equity Shares") of K V S castings limited ("K V S Castings" or the "Company") for cash at a price of Rs. 56/- per equity share (the "issue price"), aggregating to Rs. 27.83 Crore ("the Issue"). out of the issue, up to 2,54,000 equity shares aggregating to Rs. 1.42 Crore will be reserved for subscription by market maker ("Market Maker Reservation Portion"). the issue less the market maker reservation portion i.e. issue of up to 47,16,000 equity shares of face value of Rs. 10/- each at an issue price of Rs. 56/- per equity share aggregating to Rs. 26.41 Crore is hereinafter referred to as the "net issue". the issue and the net issue will constitute 26.50% and 25.15%, respectively of the post issue paid up equity share capital of the company.
Issue price is Rs.5.6 times of the face vale of the equity share of face value of Rs. 10 each.
Bids can made for a minimum of 4,000 equity shares and in multiples of 2,000 equity shares thereafter.