SK Minerals & Additives Ltd IPO
Status: Closed
Overview
IPO date
10 Oct 2025 to 14 Oct 2025
Face value
₹ 0 per share
Price
₹ 120 to ₹127 per share
Issue Size
3,240,000 shares
(aggregating up to ₹ 41.15 Cr)
(aggregating up to ₹ 41.15 Cr)
Allotment Date
15 Oct 2025
Listing at
NSE
Issue type
Book Building - SME
Sector
Trading
Objectives of SK Minerals & Additives Ltd IPO
SK Minerals & Additives Ltd IPO Strategy
About SK Minerals & Additives Ltd
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T&C*
Strengths vs Risks of SK Minerals & Additives Ltd
Know the pros & cons
Strengths
Strong Capex growth in past 3 years.- Company efforts in transition from sole trading company to manufacturing company.
- Ability to provide products as per customer satisfaction.
- Ability to scout for new opportunities and capitalising the same.
- Consistent track record of growth and financial performance.
- Ability to serve diverse customer needs.
Risks
- The company has certain outstanding litigations against us, an adverse outcome of which may adversely affect its
business, reputation and results of operations.
- The company's manufacturing operations at its facility in Khanna, Ludhiana, Punjab were commenced without
receiving prior Consent to Establish from the State Pollution Control Board, which may expose the company's to regulatory
and compliance-related risks.
- The company were manufacturing certain products at the company's manufacturing facility for which the company did not have the CTO
issued by the State Pollution Control Board.
- The Company has significant purchases of traded goods from the related parties. The higher dependency on
purchases with related parties exposes the Company to risk related to business.
- Tthe company's revenues are significantly dependent on trading activities, with limited contribution from manufacturing
operations, which exposes the company's to certain business and operational risks.
- A significant portion of the company's purchases for trading operations comprise imported products, exposing it to global
supply chain risks, foreign exchange fluctuations, and regulatory uncertainties.
- The company derives a significant portion of the company's revenue from its top customer, top 5 customers and top 10 customers.
The loss of one or more of such customers, the deterioration of their financial condition or prospects, or a
reduction in their demand for our products could adversely affect its business, results of operations, financial
condition and cash flows.
- The company rely on third-party suppliers for the company's purchases and raw materials, and any disruption in their supply may
adversely affect its business operations.
- The company has experienced negative cash flows in relation to our operating activities and investing activities for the
period ended August 31, 2025 and in Fiscal Year 2025, 2024 and 2023. Any negative cash flows in the future
would adversely affect v results of operations and financial condition.
- In the past funds have been blocked by intermediary bank of USA for the advance payment for the purchase
order placed for goods by the Company, may impact the Company's financial statements in future.
- The Company may face liquidity issue as its current ratio had been less than 2, if the company fails to realise money from
the company's debtors.
- There have been instances of delays of certain forms which were required to be filed as per the reporting
requirements under the Companies Act, 2013 to the Registrar of Companies.
- The Company undertook Rights Issues on November 11, 2023 and March 19, 2024, by adjusting unsecured
loans from promoters and directors into equity through Right Issue.
- The company's inability to effectively manage fluctuations in the company's revenue from operations & profit margins may adversely
impact its business, financial condition, results of operations and prospects.
- The Company has experienced multiple instances of minor delays in filing of returns required under the CGST
Act, 2017, the Employees Provident Fund and Miscellaneous Provisions Act, 1952 and Employee State
Insurance.
- The company's business is working capital intensive, Trade Receivables and Inventories form a substantial part of its
current assets. If the company experience insufficient cash flows to meet required payments on the company's working capital
requirements or failed to manage its inventory, there may be an adverse effect on the results of the company's operations.
- The company has taken unsecured loans from its Promoters, Directors, relative of Directors which can be recalled at
any time.
- The company's lenders has charge over the company's movable and immovable properties in respect of finance availed by it.
- A few of the company's trademarks are not registered, and objections have been raised against certain applications.
Failures to secure registration or protect the company's intellectual property may adversely impact its business,
reputation, and operations.
- Approximately 25% of the company's revenue from operations is derived from government customers who generally have
longer credit cycles, which may affect its working capital and cash flow position.
- The company does not own our Registered Office, Manufacturing Facility, Warehouses and Branch Office. Any revocation
or adverse change in the terms of the lease or license agreements for these properties may adversely affect the company's
business operations.
- Some of the company's Group Entities are engaged in the same line of business as the Company, which may result in
potential conflicts of interest involving the company's Promoters and Directors.
- Any adverse revision to the company's credit rating by rating agency may increase its borrowing costs, affect the company's ability
to raise additional financing, the interest rates and other commercial terms at which such funding is available.
- The company's business is primarily dependent on the demand from its B2B customers, and the absence of any contracts
with them exposes us to risks of order cancellations, reduced procurement, or loss of customers, which may
adversely affect the company's business and financial performance.
- The company is required to obtain, renew or maintain statutory and regulatory permits, licenses and approvals to
operate its business, and the company may experience delays in obtaining, renewing or maintaining such licenses or
permits or be unable to obtain such licenses and approvals.
- The company's existing manufacturing facility is subject to operating risks. The unexpected shutdown or slowdown of
operations at its manufacturing facility could have a material adverse effect on the company's business, results of
operations, cash flows and financial condition.
- As on the date of this Red Herring Prospectus, the company's Promoters, Directors, members of Promoter Group and
Group Entities have provided personal guarantees for its borrowings to secure our loans. the company's business,
financial condition, results of operations, cash flows and prospects may be adversely affected by the revocation
of all or any of the personal guarantees provided by its Promoters, Directors, members of the company's Promoter Group
and Group Entities in connection with the Company's borrowings.
- The company is yet to place orders for the machinery proposed to be purchased from the Net Proceeds for the expansion
of its manufacturing capacity, which may lead to delays in project implementation.
- The company's business is dependent on direct sales model. A decrease in the revenue the company earn from such key direct
customers and an inability to expand or effectively manage the company's customer could adversely affect its business,
results of operations, profitability and margins, cash flows and financial condition.
- Under-utilization of the company's manufacturing capacities could have an adverse effect on its business, future
prospects and future financial performance.
- The average cost of acquisition of Equity shares by the company's Promoters is lower than the Issue price.
- The company's success largely depends upon the knowledge and experience of its Promoters, Directors, our Key
Managerial Personnel and Senior Managerial Personnel. Loss of any of the company's Directors, Key Managerial
Personnel and Senior Managerial Personnel or its ability to attract and retain them could adversely affect the company's
business, operations and financial condition.
- The company's Independent Directors do not have qualification and experience related to the business of the Company.
- The Company has used information from the Ken Research Report which the company commissioned for industry data
in this Red Herring Prospectus and any reliance on such information is subject to inherent risks.
- Failures to effectively manage labour or failures to ensure availability of sufficient labour could affect the
business operations of the Company.
- The company has applied for patents that are currently pending and failure to obtain patent protection may impact its
competitive position and limit the company's ability to safeguard proprietary processes or innovations.
- There is no monitoring agency appointed by the Company to monitor the utilization of the Issue proceeds.
- The company's ability to pay dividends in the future will depend upon its future earnings, financial condition, cash flows,
working capital requirements, capital expenditure and restrictive covenants in the company's financing arrangements.
- The company's operations may be adversely affected in case of industrial accidents at its manufacturing facility.
- The company's insurance coverage may not be adequately protect it against all potential losses, including loss of profits
and other uninsured risks.
- The shortage or non-availability of power facilities may adversely affect the company's manufacturing processes and have
an adverse impact on its results of operations and financial condition.
- Any delay in production, or shutdown, or any interruption for a significant period of time, in this facility may
in turn adversely affect the company's business, financial condition and results of operations.
- The Equity Shares of the Company have never been publicly traded, and, after the Issue, the Equity Shares
may experience price and volume fluctuations, and an active trading market for the Equity Shares may not
develop. Further, the price of the Equity Shares may be volatile, and you may be unable to resell the Equity
Shares at or above the Issue Price, or at all.
- Fluctuation in the exchange rate between the Indian Rupee and foreign currencies may have an adverse effect
on the value of the company's Equity Shares, independent of our operating results.
- Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
- There are restrictions on daily weekly monthly movement in the price of the equity shares, which may adversely
affect the shareholder's ability to sell for the price at which it can sell, equity shares at a particular point in
time.
- The company cannot assure that prospective investors will be able to sell immediately on an Indian stock exchange any
of its Equity Shares they purchase in the Issue.
- Market price of the company's share will be decided by market forces and issue price of equity share may not be indicative
of the market price the company's share price after the issue.
How to check the allotment status of SK Minerals & Additives 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 10 Oct 2025 & closes on 14 Oct 2025.
SK Minerals & Additives Limited was originally incorporated as 'SK Minerals & Additives Private Limited', dated February 10, 2022, issued by the Registrar of Companies, Chandigarh. Prior to incorporation of the Company, the promoters were engaged in the business of trading and manufacturing of various chemicals & minerals catering to various industries such as Food and Bakery, Animal Feed, Plywood, and Petroleum under the name M/s S.K. Minerals', a proprietorship concern. Subsequently, Company converted into a public limited from private limited, to which the name of the Company has changed from SK Minerals & Additives Private Limited' to SK Minerals & Additives Limited' and a fresh Certificate of Incorporation was issued by the Registrar of Companies, Chandigarh on December 17, 2024.
The Company is engaged in the manufacturing and trading of Chemicals & Animal feed Supplements. Key products include chelated minerals such as Glycinates and EDTAs (Ethylenediaminetetraacetic Acid) in variants of Zinc, Copper, and Magnesium; essential Mineral Mixtures; Calcium Propionate; Ferric Pyrophosphate; Technical Grade Urea; Virgin Base Oil; Magnesium Oxide; By-Pass Fat and other allied specialty chemicals. These products serve critical functions in various applications, particularly in the food and bakery, animal feed, petroleum, plywood, and other allied industries. '
The Company operate through a flexible business model that integrates domestic trading, imports, and in-house production. The Company commenced operations as a proprietorship under the name M/s S.K. Minerals, initially focusing trading of goods on a select range of feed preservatives and ingredients in 2010. In year 2012-15, it gradually expanded into animal feed division by launching mineral-based feed additives. In 2016-19, it diversified the business through trading in specialty chemicals, including technical- grade urea, melamine, magnesium oxide, enabling to serve industrial customers across plywood and petroleum.
The Company commenced production facility by expanding the infrastructure and adding new products such as zinc/copper glycinate and magnesium glycinate in 2021-22. In 2022, Company acquired the business of M/s S.K. Minerals, the Proprietorship Firm vide Business Conversion Agreement dated November 24, 2022.
The Company issued 32,40,000 equity shares of Rs 10 each via its initial public offering by raising a fresh issue of Rs 41.14 Crore in October, 2025.
SK Minerals & Additives Ltd IPO will close on 14 Oct 2025.
- Strong Capex growth in past 3 years.
- Company efforts in transition from sole trading company to manufacturing company.
- Ability to provide products as per customer satisfaction.
- Ability to scout for new opportunities and capitalising the same.
- Consistent track record of growth and financial performance.
- Ability to serve diverse customer needs.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Sunita Rani | 6260000 | 69.56 | 6260000 | 51.14 |
| 2 | Mohit Jindal | 829982 | 9.22 | 829982 | 6.78 |
| 3 | Rohit Jindal | 829982 | 9.22 | 829982 | 6.78 |
| 4 | Shubham Jindal | 1079982 | 12 | 1079982 | 8.82 |
| 5 | Niketa | 18 | --- | 18 | --- |
| 6 | Geeta Rani | 18 | --- | 18 | --- |
- The company has certain outstanding litigations against us, an adverse outcome of which may adversely affect its business, reputation and results of operations.
- The company's manufacturing operations at its facility in Khanna, Ludhiana, Punjab were commenced without receiving prior Consent to Establish from the State Pollution Control Board, which may expose the company's to regulatory and compliance-related risks.
- The company were manufacturing certain products at the company's manufacturing facility for which the company did not have the CTO issued by the State Pollution Control Board.
- The Company has significant purchases of traded goods from the related parties. The higher dependency on purchases with related parties exposes the Company to risk related to business.
- Tthe company's revenues are significantly dependent on trading activities, with limited contribution from manufacturing operations, which exposes the company's to certain business and operational risks.
- A significant portion of the company's purchases for trading operations comprise imported products, exposing it to global supply chain risks, foreign exchange fluctuations, and regulatory uncertainties.
- The company derives a significant portion of the company's revenue from its top customer, top 5 customers and top 10 customers. The loss of one or more of such customers, the deterioration of their financial condition or prospects, or a reduction in their demand for our products could adversely affect its business, results of operations, financial condition and cash flows.
- The company rely on third-party suppliers for the company's purchases and raw materials, and any disruption in their supply may adversely affect its business operations.
- The company has experienced negative cash flows in relation to our operating activities and investing activities for the period ended August 31, 2025 and in Fiscal Year 2025, 2024 and 2023. Any negative cash flows in the future would adversely affect v results of operations and financial condition.
- In the past funds have been blocked by intermediary bank of USA for the advance payment for the purchase order placed for goods by the Company, may impact the Company's financial statements in future.
- The Company may face liquidity issue as its current ratio had been less than 2, if the company fails to realise money from the company's debtors.
- There have been instances of delays of certain forms which were required to be filed as per the reporting requirements under the Companies Act, 2013 to the Registrar of Companies.
- The Company undertook Rights Issues on November 11, 2023 and March 19, 2024, by adjusting unsecured loans from promoters and directors into equity through Right Issue.
- The company's inability to effectively manage fluctuations in the company's revenue from operations & profit margins may adversely impact its business, financial condition, results of operations and prospects.
- The Company has experienced multiple instances of minor delays in filing of returns required under the CGST Act, 2017, the Employees Provident Fund and Miscellaneous Provisions Act, 1952 and Employee State Insurance.
- The company's business is working capital intensive, Trade Receivables and Inventories form a substantial part of its current assets. If the company experience insufficient cash flows to meet required payments on the company's working capital requirements or failed to manage its inventory, there may be an adverse effect on the results of the company's operations.
- The company has taken unsecured loans from its Promoters, Directors, relative of Directors which can be recalled at any time.
- The company's lenders has charge over the company's movable and immovable properties in respect of finance availed by it.
- A few of the company's trademarks are not registered, and objections have been raised against certain applications. Failures to secure registration or protect the company's intellectual property may adversely impact its business, reputation, and operations.
- Approximately 25% of the company's revenue from operations is derived from government customers who generally have longer credit cycles, which may affect its working capital and cash flow position.
- The company does not own our Registered Office, Manufacturing Facility, Warehouses and Branch Office. Any revocation or adverse change in the terms of the lease or license agreements for these properties may adversely affect the company's business operations.
- Some of the company's Group Entities are engaged in the same line of business as the Company, which may result in potential conflicts of interest involving the company's Promoters and Directors.
- Any adverse revision to the company's credit rating by rating agency may increase its borrowing costs, affect the company's ability to raise additional financing, the interest rates and other commercial terms at which such funding is available.
- The company's business is primarily dependent on the demand from its B2B customers, and the absence of any contracts with them exposes us to risks of order cancellations, reduced procurement, or loss of customers, which may adversely affect the company's business and financial performance.
- The company is required to obtain, renew or maintain statutory and regulatory permits, licenses and approvals to operate its business, and the company may experience delays in obtaining, renewing or maintaining such licenses or permits or be unable to obtain such licenses and approvals.
- The company's existing manufacturing facility is subject to operating risks. The unexpected shutdown or slowdown of operations at its manufacturing facility could have a material adverse effect on the company's business, results of operations, cash flows and financial condition.
- As on the date of this Red Herring Prospectus, the company's Promoters, Directors, members of Promoter Group and Group Entities have provided personal guarantees for its borrowings to secure our loans. the company's business, financial condition, results of operations, cash flows and prospects may be adversely affected by the revocation of all or any of the personal guarantees provided by its Promoters, Directors, members of the company's Promoter Group and Group Entities in connection with the Company's borrowings.
- The company is yet to place orders for the machinery proposed to be purchased from the Net Proceeds for the expansion of its manufacturing capacity, which may lead to delays in project implementation.
- The company's business is dependent on direct sales model. A decrease in the revenue the company earn from such key direct customers and an inability to expand or effectively manage the company's customer could adversely affect its business, results of operations, profitability and margins, cash flows and financial condition.
- Under-utilization of the company's manufacturing capacities could have an adverse effect on its business, future prospects and future financial performance.
- The average cost of acquisition of Equity shares by the company's Promoters is lower than the Issue price.
- The company's success largely depends upon the knowledge and experience of its Promoters, Directors, our Key Managerial Personnel and Senior Managerial Personnel. Loss of any of the company's Directors, Key Managerial Personnel and Senior Managerial Personnel or its ability to attract and retain them could adversely affect the company's business, operations and financial condition.
- The company's Independent Directors do not have qualification and experience related to the business of the Company.
- The Company has used information from the Ken Research Report which the company commissioned for industry data in this Red Herring Prospectus and any reliance on such information is subject to inherent risks.
- Failures to effectively manage labour or failures to ensure availability of sufficient labour could affect the business operations of the Company.
- The company has applied for patents that are currently pending and failure to obtain patent protection may impact its competitive position and limit the company's ability to safeguard proprietary processes or innovations.
- There is no monitoring agency appointed by the Company to monitor the utilization of the Issue proceeds.
- The company's ability to pay dividends in the future will depend upon its future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in the company's financing arrangements.
- The company's operations may be adversely affected in case of industrial accidents at its manufacturing facility.
- The company's insurance coverage may not be adequately protect it against all potential losses, including loss of profits and other uninsured risks.
- The shortage or non-availability of power facilities may adversely affect the company's manufacturing processes and have an adverse impact on its results of operations and financial condition.
- Any delay in production, or shutdown, or any interruption for a significant period of time, in this facility may in turn adversely affect the company's business, financial condition and results of operations.
- The Equity Shares of the Company have never been publicly traded, and, after the Issue, the Equity Shares may experience price and volume fluctuations, and an active trading market for the Equity Shares may not develop. Further, the price of the Equity Shares may be volatile, and you may be unable to resell the Equity Shares at or above the Issue Price, or at all.
- Fluctuation in the exchange rate between the Indian Rupee and foreign currencies may have an adverse effect on the value of the company's Equity Shares, independent of our operating results.
- Rights of shareholders under Indian laws may be more limited than under the laws of other jurisdictions.
- There are restrictions on daily weekly monthly movement in the price of the equity shares, which may adversely affect the shareholder's ability to sell for the price at which it can sell, equity shares at a particular point in time.
- The company cannot assure that prospective investors will be able to sell immediately on an Indian stock exchange any of its Equity Shares they purchase in the Issue.
- Market price of the company's share will be decided by market forces and issue price of equity share may not be indicative of the market price the company's share price after the issue.
The Issue type of SK Minerals & Additives Ltd is Book Building - SME.
The minimum application for shares of SK Minerals & Additives Ltd is 2000.
The total shares issue of SK Minerals & Additives Ltd is 3240000.
Initial public issue of up to 32,40,000 equity shares of face value of Rs. 10/- each ("Equity Shares") of SK Minerals & Additives Limited ('' The Company " or "the Issuer") for cash at a price of Rs. 127 per equity share including a share premium of Rs.117 per equity share( The "Issue Price") aggregating to Rs.41.15 Crore ("The Issue"), of which 1,62,000* equity shares of face value of Rs.10/- each for cash at a price of
Rs.127 per equity share including a share premium of Rs.117 per equity share aggregating to Rs.2.06 Crore will be reserved for subscription by market maker to the issue ( The "Market Maker Reservation Portion"). the Issue less the market maker reservation portion i.e., net issue of up to 30,78,000* equity shares of face value of Rs.10/- each at a price of Rs. 127 per equity share including a share premium of Rs.117 per equity share aggregating to Rs.39.09 Crore is herein after referred to as the "Net Issue". The issue and the net issue will constitute [*]% and [*]% respectively of the post issue paid up equity share capital of the company.