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Chaman Metallics IPO GMP, Price, Dates & Allotment Details 2023

Chaman Metallics IPO GMP, Price, Dates & Allotment Details 2023

Chaman Metallics IPO opens on January 4 and closes on January 6, 2023. According to the DRHP filed in SEBI, the company is planning to raise about ₹ 24.21 crore through this public issue by issuing 6,372,000 shares of face value of ₹ 10 each at a price of ₹ 38 per share. 

Incorporated in 2003. The primary activity of Chaman Metallics Ltd. is the production and sale of direct reduced iron (i.e., sponge iron). Induction furnaces & electric arc furnaces are the primary steel-making processes that utilize sponge iron as a raw material. The company meets the metallic needs of steel makers in a few regions through its sponge iron business.

ISO 9001:2015 for quality management systems, ISO 14001:2015 for environmental management systems, and ISO 45001:2018 for occupational health and safety management systems have all been awarded to The Chaman Metallics Ltd.

Company manufacturing unit is based at Chandrapur, Maharashtra and is spread across an area of around 63 acres of land. At the company sponge iron manufacturing facility, they operate two Rotary kilns having an aggregate annual installed capacity of 72,000 MT (2 X 100 MTPD) for production of sponge iron as at March 31, 2022. 

Objects of the Issue

The company proposes to utilise the Net Proceeds of the Fresh Issue towards funding the following objects:

  1. To meet Working Capital requirements.
  2. General Corporate Purpose.
  3. To meet issue expenses.

Financial Highlights (Consolidated)

ParticularsPeriod ended on 30th September 2022FY 2021-22FY 2020-21FY 2019-20
Net Worth4473.173807.942873.292350.21
Total Assets9085.527378.595872.405399.39
Total Revenue11182.4318546.3214075.895837.14
Profit After Tax681.74934.65523.07369.46
Total Borrowings1608.172515.811392.811976.17
(Amount in ₹ Lakhs)

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Chaman Metallics IPO – Details

According to the DRHP filed in SEBI, the company is planning to issue 6,372,000 shares of ₹ 10 each aggregating up to ₹ 24.21 Crore.

Issue TypeFixed Price Issue IPO
IPO Price₹ 38 per share
Face Value₹ 10 per share
Market Lot3,000 shares
Issue Size6,372,000 shares of ₹ 10 (Aggregating up to ₹ 24.21 Crore)
Fresh Issue6,372,000 shares of ₹ 10 (Aggregating up to ₹ 24.21 Crore)
NII (HNI) Shares Offered50% of the Net Issue
Retail Shares Offered50% of the Net Issue
Listing AtNSE SME
PromotersChetan Agrawal, Keshav Kumar Agrawal, G.R. Sponge and Power Limited & N.R. Sponge Private Limited 

GMP – Chaman Metallics IPO

Chaman Metallics IPO GMP or Grey Market Premium are available here. The IPO GMP Premium updated day by day for IPOs running period and the GMP rates fluctuate and became stable some time later. The GMP rates are not 100% guaranteed. Please click here for GMP details.

Tentative Dates – Chaman Metallics IPO

Chaman Metallics IPO opens on January 4 and closes on January 6, 2023.

Opening DateJanuary 4, 2023
Closing DateJanuary 6, 2023
Basis of AllotmentJanuary 11, 2023
Initiation of RefundsJanuary 12, 2023
Credit of shares to Demat A/cJanuary 13, 2023
Listing DateJanuary 16, 2023

Lot Size – Chaman Metallics IPO

The Chaman Metallics IPO lot size is 3,000 shares. A retail-individual investor can apply for up to 1 lot i.e. 3,000 shares of ₹ 114,000.

ApplicationsLotsSharesAmount 
Retail (Minimum)13,000₹ 114,000
Retail (Maximum)13,000₹ 114,000
HNI (Minimum)26,000₹ 228,000

Promoters Holdings – Chaman Metallics IPO

Pre-issue Shares Holdings100%
Post-issue Shares Holdings73.60%

SWOT Analysis – Chaman Metallics IPO

STRENGTHSWEAKNESSES
1. Strategically located manufacturing unit.
2. Stringent quality control mechanism ensures standardised product quality.
3. Long standing relationship with company customers.
1. The substantial portion of company revenues has been dependent upon few customers.
2. Outstanding legal proceedings against Company, Promoters & Directors.
OPPORTUNITIESTHREATS
1. Demand for steel from different sectors will drive this industry. Consumption of steel by India’s infrastructure segment is expected to increase to 11% by FY26. 
2. Steel demand from the automotive sector is expected to increase due to rise in the demand for automobiles. 
3. The Company can catch more opportunities by spreading its business in different states.

1. Adverse publicity regarding company products.
2. Changes in laws and regulation.
3. Change in technology.
4. Competitions from organised and unorganised players

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Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
IPO RHP
Company Contact InformationChaman Metallics Limited
A-26, M.I.D.C, Tadali Growth Centre,
Chandrapur, Maharashtra – 442406
Phone: +91-771-4259100
Email: [email protected]
Website: http://www.cmlgrgroup.com/
IPO RegistrarLink Intime India Private Ltd
Phone: +91-22-4918 6270
Email: [email protected]
Website: https://linkintime.co.in/
IPO Lead Manager(s)Hem Securities Limited 

FAQ’s

The Chaman Metallics IPO price is ₹ 38 per share.

One lot of Chaman Metallics IPO contains 3,000 shares of ₹ 114,000.

The minimum investment size is one lot for retail investors.

The finalization of Basis of Allotment for Chaman Metallics IPO will be done on January 11, 2023, and the allotted shares will be credited to your demat account by January 13, 2023. Check the Chaman Metallics IPO allotment status.

The Chaman Metallics IPO shares listing date is January 16, 2023.

The investors’ portion for NII (HNI) – 50%, and Retail – 50%.

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