The IPO of Classic Electrodes, a Kolkata-based welding consumables manufacturer, will open for subscription on August 22. The Rs 41.51 crore issue is entirely a fresh issue of 47.71 lakh shares and will close on Tuesday. The issue is witnessing muted activity in the unofficial market, with the GMP yet to pick up momentum.The company has fixed a price band of Rs 82–87 per share, with a lot size of 3,200 shares for retail investors.On August 21, Classic Electrodes raised Rs 11.69 crore from anchor investors, allotting 13.44 lakh shares ahead of the IPO. The shares are set to list on the NSE SME platform on September 1.Company backgroundFounded in 1997, Classic Electrodes is a well-known player in the welding consumables space. Its product portfolio includes mild steel electrodes, stainless