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InvestmentsIPOCarver Roboweld IPO

Carver Roboweld IPO

SME

Open Date

28 Oct 2026

Close Date

30 Oct 2026

Min Investment

₹ 2,43,200

Lot Size

1,600

Issue Size

₹ 28.29 Cr

Price Range

₹ 76 - ₹ 80

Subscribed

0.84 x
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status

IPO Open Now.

IPO Timeline
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IPO Offer Start
28 Oct 2026
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IPO Offer Ends
30 Oct 2026
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Allotment Finalisation
2 Nov 2026
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Refund Initialisation
3 Nov 2026
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Non-Institutional Buyers (sHNI)
3 Nov 2026
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Listing of Shares
4 Nov 2026
IPO Subscription Details as on 29 Oct 2026, 06:58 PM
Qualified Instituational Buyers (QiB)
0 x
Retail
0.61 x
Total
0.84 x
Non-Institutional Buyer (bHNI)
3.15 x
Non-Institutional Buyer (sHNI)
1.03 x
Note: This information is provided for general guidance only. Dates may be subject to change.
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About the Company
Carver Roboweld Limited (CRL) is an ISO 9001:2015 certified manufacturer of welding consumables — including Metal Cored Wires, Welding Rods, and Gouging Electrodes — with its primary facility in Rajkot, Gujarat, and service units in Pune, Hosur, and Ludhiana. The company also offers value-added engineering services such as forging die regeneration and welding robot rental services (owning 12 robots deployed on a rental-cum-captive-consumables model), along with welding spare parts. Through its subsidiary Carver Engineering Private Limited (acquired September 2025), the company extends into re-conditioning and refurbishment of plant and machinery across forging, cement, steel, power, and automotive sectors. With an installed capacity of 650 tonnes per annum (FY2026), a ~30% capacity CAGR, and revenue of ₹2,702 lakhs in FY2026, the company is led by promoters with over 16 years of welding industry experience and is a Sustaining Corporate Member of the American Welding Society (AWS).
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Founded In

2009

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Director

Deval Ranjitbhai Bose

Financials of Carver Roboweld IPO

Income Statement
Balance Sheet
Cash Flows
Total Income
Total Expenses
Total Profit
Key Performance IndicatorsMar 2024Mar 2025Mar 2026
Operating Revenue21.6724.8627.02
Other Income0.000.110.09
Total Income
21.6724.9727.12
Total Expenses
20.2622.9022.33
Profit Before Tax1.412.074.79
Total Profit
1.011.453.48

All figures are in crores (₹)

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Utilisation of Proceeds

All figures are in crores (₹)

PurposeAmount
The company proposes to utilize a portion of the Net Proceeds towards funding capital expenditure requirements for the purchase of welding robots (ABB1520 and ABB2600 models integrated with EWM Phoenix XQ R 500 puls welding power sources) to expand its robot rental fleet from 12 to 39 units, enabling deployment at existing and prospective customer locations.12
The company intends to utilize a portion of the Net Proceeds towards full or partial repayment/prepayment of outstanding borrowings availed from various banks and financial institutions, in order to reduce indebtedness, improve the debt-equity ratio, and lower finance costs.9
The company proposes to deploy the balance Net Proceeds towards general corporate purposes including acquisition of fixed assets, funding growth opportunities, strategic initiatives, brand building, administration, marketing, repairs and maintenance, and other ordinary course business expenses, subject to applicable regulatory limits.-
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  • Experienced Promoter and Management Team: The company is led by promoters Ranjit Chandrabhai Bose, Rajit Chandra Bose, and Deval Ranjitbhai Bose, with collective experience of nearly 16 years in the welding industry, enabling the company to scale domestic operations and anticipate market trends.
  • Strategically Located Manufacturing Facility and Service Units: The company's manufacturing facility is located in Bamanbore, Rajkot, Gujarat, complemented by three service units in Pune, Ludhiana, and Hosur, contributing revenues of ₹771.04 lakhs, ₹2,702.20 lakhs, ₹2,485.97 lakhs, and ₹2,167.29 lakhs for the respective periods.
  • Strategic Market Coverage Across Domestic Markets: The company's customer base spans 14+ states including Karnataka (53.33% of revenue for period ended June 30, 2026), Maharashtra, Tamil Nadu, Punjab, and others, covering western, southern, northern, and central regions of India.
  • Focus on Consistently Meeting Customer Specifications and Quality Standards: The company is ISO 9001:2015 certified and is a Sustaining Corporate Member of the American Welding Society (AWS), with continuous product review processes ensuring quality compliance, customer trust, and repeat orders.
  • Robot Rental Model Enabling Long-Term Customer Engagement and Recurring Revenue: The company owns 12 welding robots deployed on a rental basis, creating a captive customer model where lessees are required to use the company's metal-cored wires, generating stable and predictable recurring revenue over long-term lease tenures.

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