What does Vikash Metal & Power Limited do?

Vikash Metal & Power Limited is a Kolkata-based manufacturer incorporated in 1996, operating in the steel and ferro alloys manufacturing segment. It is classified as an unlisted public company registered with the Registrar of Companies, West Bengal.

What is the ISIN of Vikash Metal & Power Limited?

The ISIN of Vikash Metal & Power Limited is INE226H01014.

Is Vikash Metal & Power Limited financially active?

The unlisted share price of ₹0.01 strongly suggests the company is in severe financial distress or is effectively dormant. No recent financial disclosures or operational updates are publicly available.

How do I buy Vikash Metal & Power unlisted shares here?

Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.

Who am I actually transacting with?

You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.

How do I pay, and is there a payment gateway?

Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

How long does settlement take?

After you accept an allocation, you have a short window to pay (typically 2 days). Once payment is verified, shares are usually credited to your demat within 2–3 business days, subject to depository timelines and any company-level restrictions. Timeframes are typical, not guaranteed.

There are no separate platform fee lines and no GST on the transfer — the desk's margin is built into the buy/sell price you're quoted. The only statutory add-on on a purchase is stamp duty on the consideration, shown transparently in your cost breakdown.

Is there a minimum ticket size for Vikash Metal & Power?

Minimums vary by company and depend on the lot the desk can source. Raise an enquiry and the desk will confirm the available quantity and the minimum for that name.

What KYC do I need, and do I need a demat account?

You'll share your demat details when you enquire so we can settle directly. Full KYC — PAN and a client-master / demat statement — is required before the transfer step, when shares actually change hands. Yes, you need an active demat account to hold unlisted shares.

Are there lock-ins on unlisted or pre-IPO shares?

Some shares carry statutory or company-imposed lock-ins — for example, a post-listing lock-in on pre-IPO stock — and transfers can be subject to the company's articles or approvals. Where a lock-in applies, we'll flag it before you commit.

How do I sell Vikash Metal & Power shares I already hold?

Raise a sell enquiry with the company, quantity and your target price. The desk confirms a buying price, you transfer your shares into the desk's demat, and once the credit is verified we pay you out by bank transfer to your registered account. The desk never pays out before your shares are received.

Unlisted shares are illiquid, may be hard or impossible to sell, and are not covered by exchange settlement guarantees or investor-protection funds. Pricing is indicative, not live. Read the full Risk Disclosure before you enquire, and invest only what you can afford to lock away.

Vikash Metal & Power Unlisted Share Price | Buy Vikash Metal & Power Pre-IPO Shares — wisefolio

Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

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Vikash Metal & Power Unlisted Share Price | Buy Vikash Metal & Power Pre-IPO Shares — wisefolio | wisefolio

Investment Thesis

Vikash Metal & Power Limited is a deeply distressed steel and ferro alloys manufacturer from West Bengal with near-zero active revenues and a long history of non-filing of financials. With promoter pledge, persistent losses (~₹46 Cr TTM PAT), and a stock price of ₹0.01, the company shows no signs of operational recovery and carries significant governance and insolvency risk. It should be treated as effectively defunct unless confirmed otherwise through direct MCA or NCLT filings.

Pros

Diversified steel product portfolio covering sponge iron, billets, TMT bars, ferro alloys, and captive power
Long operating history of nearly 30 years with established manufacturing presence in West Bengal
Integrated operations (steel making + captive power) reduce input cost dependency

Cons

Deeply loss-making with TTM PAT of approximately -₹46 Cr; financially distressed
Balance sheet filing lapsed post-FY2013 per MCA records — severe corporate governance concerns
Penny stock trading at ₹0.01 — near-total erosion of market capitalisation and investor trust
No recent annual report or audited financials publicly available, indicating possible regulatory non-compliance
Promoters had pledged over 10% of equity, signaling historical financial stress

Business Segments

Sponge Iron Manufacturing

Steel Billets and Rounds (MS Billets, MS Rounds)

TMT Bars and HR Strips

Ferro Alloys (Ferro Manganese, Silico Manganese)

Captive Power Generation

Revenue Model

Vikash Metal & Power Limited's business model involves manufacturing steel and ferro alloy products sold to industrial buyers. The company also potentially operates captive power assets to support its manufacturing operations. However, given the share price of ₹0.01, operations appear to be severely curtailed or ceased.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds5

Growth Plans

Potential revival through debt restructuring or acquisition by a strategic buyer in the metals sector

Industry Tailwinds

Potential revival through debt restructuring or acquisition by a strategic buyer in the metals sector

Industry Headwinds

Risk of complete loss of investment given the near-zero share price

Recent Developments

Shares are effectively delisted/dormant and trading on unlisted/OTC platforms at ₹0.01

No significant corporate announcements, capex, or restructuring news found for 2023–2025

Company appears to be in a suspended or near-defunct operational state based on absence of recent filings

Comparable Companies

CompanyTypeTickerMkt Cap

Tata Steel LimitedPE: ~15xxListedTATASTEEL~1,60,000 Cr

JSW Steel LimitedPE: ~20xxListedJSWSTEEL~2,00,000 Cr

Tata Steel LimitedListed

TATASTEEL · ~1,60,000 Cr

PE: ~15xx

JSW Steel LimitedListed

JSWSTEEL · ~2,00,000 Cr

Frequently Asked Questions

About Vikash Metal & Power

Vikash Metal & Power Limited is a Kolkata-based steel and metals manufacturer incorporated on July 4, 1996. Registered under CIN U27109WB1996PLC080353 with the Registrar of Companies, Kolkata, the company operates in the basic iron and steel sector with manufacturing facilities for sponge iron, steel billets, TMT bars, HR strips, and ferro manganese, as well as captive power generation. Headquartered at 35 Chittaranjan Avenue, 6th Floor, Kolkata, West Bengal, Vikash Metal & Power is a vertically integrated steel producer catering to construction and infrastructure sectors. The company's manufacturing operations generate steel products used in building construction, infrastructure projects, and industrial applications. The company was listed on BSE (stock code 532677) and NSE (symbol: VIKASHMET), providing public market access. Its authorized share capital stands at Rs. 100 crore with paid-up capital of Rs. 71.19 crore. Key directors include Vimal Kumar Patni, Vikash Patni, and Sanjay Sharma. However, the company's public filings reveal a concerning financial profile. The most recent balance sheet filed with ROC was for March 31, 2013, indicating a decade-long gap in formal financial reporting. Despite maintaining listed status on NSE, the company reported gross sales of Rs. 0 crore in recent reporting periods, with total income of Rs. 52.74 crore suggesting limited or suspended manufacturing operations. The company is classified as a delisted or suspended stock in certain contexts, and investors should exercise extreme caution. The combination of zero gross sales and non-filing of financials since 2013 suggests either operational suspension or restructuring under way. Trading in Vikash Metal & Power shares involves significant information asymmetry and risk.

Key Milestones

Incorporated on 4 December 1996 in Kolkata, West Bengal as a public limited company

Common questions about unlisted shares

How do I buy Vikash Metal & Power unlisted shares here?
Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.
Who am I actually transacting with?
You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.
How do I pay, and is there a payment gateway?

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