Carver Roboweld Limited
Bookbuilding IPO · BSE
- Price band
- ₹76 - ₹80
- Lot size
- 1,600 shares
- Issue amount
- ₹28.28 cr
- Total subscription
- 25.87×
- Opens
- 28 Oct 2026
- Closes
- 30 Oct 2026
- Allotment
- 2 Nov 2026
- Listing
- 4 Nov 2026
Offer at a glance
Issue overview
- Issue size
- 35,36,000 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹1,21,600
- Fresh issue
- ₹28.28 cr
- Offer for sale
- ₹0 cr
- Registrar
- Bigshare Services Private Limited
- Listing exchange
- BSE
- Maximum investment
- ₹1,28,000
- Issue type
- Bookbuilding IPO
- Shares before issue
- 95,66,805
- Shares after issue
- 1,31,02,805
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 2 | 3,200 | ₹2,56,000 |
| sHNI | 3 | 4,800 | ₹3,84,000 |
| bHNI | 8 | 12,800 | ₹10,24,000 |
Share reservation
Subscription & GMP
Subscription by category
Reported 30 Oct 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 369 | 7,074 |
| HNIs(10L +) | 71 | 1,232 |
| HNIs (2-10L) | 36 | 919 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 5.35 | 140.88 |
| RETAIL | 9.45 | 181.09 |
| NIB | 4.1 | 163.32 |
| HNIs 2+ | 1.37 | 36.29 |
| HNIs 10+ | 2.73 | 130.59 |
| HNIs | 4.1 | 166.87 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Jun-26 | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|---|
| EPS | 1.56 | 3.78 | 1.69 | 1.18 |
| ROE | 0 | 0 | 0 | 0 |
| ROCE | 8.27 | 21.64 | 13.95 | 17.05 |
| RONW | 8.48 | 21.57 | 31.8 | 32.52 |
| PRE IPO(PE) | 0 | 21.98 | 0 | 0 |
| POST IPO(PE) | 17.54 | 0 | 0 | 0 |
Values and labels as reported in the issue data.
Peer comparison
| Company | P/E(X) | CMP* (₹) | Face value (₹) | NAV/Share (₹) | RONW(%) | EPS (Basic) (₹) |
|---|---|---|---|---|---|---|
| Carver Roboweld Limited | 21.98 | 0 | 10.00 | 16.86 | 21.57 | 3.78 |
| Royal Arc Electrodes Limited | 18.18 | 0 | 10.00 | 73.21 | 12.36 | 9.05 |
| Diffusion Engineers Limited | 34.52 | 0 | 10.00 | 102.73 | 11.61 | 11.98 |
| Classic Electrodes (India) Limited | 7.03 | 0 | 10.00 | 52.99 | 13.28 | 7.04 |
Company information
Company profile
Carver Roboweld Limited, incorporated in August 2009, manufactures welding consumables such as metal cored wires, welding rods and gauging electrodes, while also supplying welding spare parts and accessories. The company has expanded into value-added engineering solutions for the forging industry, including forging die regeneration and welding robot rental services. Its primary manufacturing facility is located in Bamanbore, Rajkot, Gujarat, with additional service units in Pune, Hosur and Ludhiana, allowing it to serve customers across major industrial markets in India. As of July 11, 2026, the company had a combined installed production capacity of 650 tonnes per annum for metal cored wires and welding rods, with capacity growing at a compound annual growth rate (CAGR) of approximately 30% between Fiscal 2025 and Fiscal 2026. Through its subsidiary, Carver Engineering Private Limited, acquired in September 2025, the company also provides reconditioning and refurbishment services for plant and machinery across industries such as forging, casting, cement, steel, sugar, power, petroleum, automotive and fabrication. Its engineering capabilities include heavy-duty machining, structural fabrication, repair and refurbishment of hammers and components, and turnkey engineering projects. Carver Roboweld serves industrial customers across multiple Indian states through its welding consumables and engineering solutions. The company is ISO 9001:2015 certified and holds Sustaining Corporate Membership with the American Welding Society (AWS), demonstrating its focus on quality management and recognised welding standards. As of June 30, 2026, the company had 68 permanent employees and 75 contract workers.
Strengths
- Experienced Promoters & Management Team: The company’s promoters have nearly 16 years of experience in the welding industry, supported by a management team with technical, operational and business development expertise that has helped expand domestic operations.
- Strategically Located Manufacturing & Service Units: The company’s manufacturing facility in Bamanbore, Rajkot, is supported by service units in Pune, Ludhiana and Hosur, helping reduce transportation time and ensure timely deliveries.
- Wide Domestic Market Reach: The company serves customers across 14 states, including Karnataka, Maharashtra and Tamil Nadu, covering western, southern, northern and central India and supporting demand across different regions.
Risk factors
- High Customer Concentration Risk: The top 10 customers contributed 86.73%, 80.78%, 84.77% and 73.34% of revenue for the period ended June 30, 2026, FY2026, FY2025 and FY2024, respectively. Losing major customers could negatively affect revenue and profitability.
- Raw Material Cost & Quality Risk: The company depends on a steady supply of quality raw materials to manufacture welding rods, gouging electrodes and metal cored wire. Raw material costs accounted for 91.45% of revenue for the period ended June 30, 2026, exposing profit margins to cost fluctuations.
- High Supplier Concentration Risk: The top 10 suppliers accounted for 90.82%, 92.43%, 94.26% and 87.15% of total purchases for the period ended June 30, 2026, FY2026, FY2025 and FY2024, respectively. Any disruption in these supplier relationships could affect business operations.
Promoters
Ranjit Chandrabhai Bose
Rajit Chandra Bose
Deval Ranjitbhai Bose
Registrar & documents
Lead manager
Smart Horizon Capital Advisors Private Limited
Registrar & contacts
Bigshare Services Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Office no. 1403, Space Odyssey, Near KKV Hall, 150 Feet Ring Road, Mota Mava, Rajkot, Gujarat, 360005
9727797000
[email protected]Company website ↗Understanding CRL IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.