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<h1>Sponge iron manufacturer raises 29.91 crore through IPO priced at 56-59 per share for power plant expansion</h1> A sponge iron manufacturing company launched a 29.91 crore IPO on NSE Emerge platform, opening June 24-26, 2025. The price band is 56-59 per share with 50.7 lakh equity shares offered. Proceeds will fund a captive power plant setup (23 crore) and general corporate purposes. The Raipur-based company, incorporated in 2003, has 30,000 metric tonnes annual capacity and reported FY25 revenue of 80.47 crore with 11.43% profit margin.
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