Minimum Investment
About Company
Company Name: Carver Roboweld Limited
Industry / Sector: Engineering / Welding Consumables & Automation
Founded Year: August 2009
Promoters: Ranjit Chandrabhai Bose, Rajit Chandra Bose, Deval Ranjitbhai Bose
Carver Roboweld Limited, incorporated in August 2009, is a Rajkot-based manufacturer of welding consumables, including metal cored wires, welding rods and gouging electrodes, catering to diverse industrial applications. The company has expanded into value-added engineering services for the forging industry, offering forging die regeneration, welding robot rental services, CNC and heavy-duty machining, and structural fabrication through its subsidiary, Carver Engineering Private Limited. Its manufacturing facility is located in Bamanbore, Rajkot, with service units in Pune, Hosur and Ludhiana. The company is ISO 9001:2015 certified and a Sustaining Corporate Member of the American Welding Society. As of June 30, 2026, it employed 68 permanent employees and 75 contract workers. The company serves 76 industrial customers across more than 14 Indian states, with a distinctive rental-cum-consumables model under which it leases welding robots and supplies metal-cored wires, creating recurring demand.
IPO Basic Details
| Company Name | Carver Roboweld Limited |
| IPO Type | SME IPO |
| Price Band | ₹76 – ₹80 |
| Lot Size | 1,600 Shares |
| Total Issue Size | 35,36,000 Equity Shares (₹28.29 Cr) |
IPO Strengths & Risks
Strengths
- ISO 9001:2015 certified and Sustaining Corporate Member of the American Welding Society
- Diversified revenue mix across consumables manufacturing and value-added engineering services
- Distinctive rental-cum-consumables model for welding robots creating recurring demand
- Operates 12 welding robots as of mid-2026, with plans to expand to 39 units
- Serves 76 industrial customers across 14+ Indian states including major forging hubs
- Experienced promoters with over 16 years of industry experience
- Consistent growth in total income from ₹21.67 Cr (FY24) to ₹27.12 Cr (FY26)
- PAT growth of 139% in FY26 (₹3.48 Cr vs ₹1.45 Cr in FY25)
Risks
- Revenue concentration risk with top 10 customers contributing 80.78% (FY26) and largest client at 43%
- Operates in a highly competitive and fragmented welding consumables segment
- Rising trade receivables (₹36.54 Cr as of March 31, 2026) raising working capital concerns
- Capital-intensive expansion of robot fleet subject to execution risk
- Dependence on forging industry cyclicality
- SME IPO with limited liquidity and smaller scale of operations
- Promoter average acquisition cost significantly lower than issue price
IPO Important Dates
| IPO Open Date | 28 Oct 2026 |
| IPO Close Date | 30 Oct 2026 |
| Basis of Allotment | 02 Nov 2026 |
| Refund Initiation | 02 Nov 2026 |
| Demat Credit Date | 03 Nov 2026 |
| Listing Date | 04 Nov 2026 |
| Anchor Investor Date | - |
| UPI Mandate Deadline | - |
IPO Objectives
- Capital expenditure for machinery and equipment – -
- Funding working capital requirements – -
- Debt repayment – -
- General corporate purposes – -
Investor Reservation
| QIB Quota | Not more than 50% of the Net Issue |
| Retail Quota | Not less than 35% of the Net Issue |
| HNI Quota | - |
| Employee Quota | - |
| Shareholder Quota | - |
| Anchor Investor Allocation | - |
Market Lot Details
| Application | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 Lot | 1,600 | ₹1,28,000 (at upper band) |
| Retail Maximum | 2 Lots | 3,200 | ₹2,56,000 (at upper band) |
| S-HNI Minimum | 3 Lots | 4,800 | ₹3,84,000 (at upper band) |
| S-HNI Maximum | 12 Lots | 19,200 | ₹15,36,000 (at upper band) |
| B-HNI Minimum | 13 Lots | 20,800 | ₹16,64,000 (at upper band) |
Key Performance Indicators (KPI)
| ROE | Not Available |
| ROCE | Not Available |
| RoNW | - |
| PAT Margin | 12.83% (FY26), 19.33% (Q1 FY27) |
| EBITDA Margin | 30.82% (FY26) |
| EPS | ₹5.58 (Annualised, FY26) |
| NAV per share | - |
| Debt to Equity | Not Available |
| P/E Ratio | - |
| Industry P/E | - |
Company Financial Data
| Period | Assets | Total Income | PAT | EBITDA | Net Worth | Borrowings |
|---|---|---|---|---|---|---|
| Q1 FY2027 (Jun 30, 2026) | ₹39.45 Cr | ₹7.71 Cr | ₹1.49 Cr | Not Available | ₹17.62 Cr | ₹9.62 Cr |
| FY2026 (Mar 31, 2026) | ₹38.26 Cr | ₹27.12 Cr | ₹3.48 Cr | ₹8.36 Cr | Not Available | Not Available |
| FY2025 (Mar 31, 2025) | ₹32.69 Cr | ₹24.97 Cr | ₹1.45 Cr | ₹4.92 Cr | Not Available | Not Available |
| FY2024 (Mar 31, 2024) | ₹21.59 Cr | ₹21.67 Cr | ₹1.01 Cr | ₹4.12 Cr | Not Available | Not Available |
Grey Market Premium
| GMP Price | ₹0 (as of 26 Oct 2026) |
| Kostak Rate | Not Available |
| Subject to Sauda | Not Available |
| Last Updated | 26 Oct 2026 |
| Estimated Listing Price | ₹80 (0.00% premium over upper price band) |
IPO Subscription Data
| Total Subscription | 0.19x (as of 28 Oct 2026) |
| QIB (Ex Anchor) | 0.00x |
| HNI Subscription | 0.40x |
| Retail Subscription | 0.18x |
| Anchor | - |
IPO Intermediaries
Registrar: Bigshare Services Pvt. Ltd.
Registrar Website: https://www.bigshareonline.com
IPO Lead Manager(s)
Company Information
Address: Office no. 1403, Space Odyssey, Near KKV Hall, 150 Feet Ring Road, Mota Mava, Rajkot-360005, Gujarat, India
Website: https://www.carverroboweld.com
Email: investor@carver.co.in
Phone: +91 9727797000
IPO Documents
Frequently Asked Questions (FAQ)
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