Earthstahl & Alloys IPO GMP, Price, Dates & Allotment Details 2023
Earthstahl & Alloys IPO will open on January 27 and close on January 31, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 12.96 crore through this public offering, consisting of 3,240,000 shares of face value of ₹ 10 each. Which will be issued at a price of ₹ 38 to ₹ 40 per share.
Incorporated in 2009. The company is in the business of producing cast iron lumps and ductile iron pipe fittings. Cast iron lumps are used as raw material in the steel foundries to manufacture products like cast iron pipe fittings, machine components such as lathe machines, fan components, manhole covers, decorative cast iron pieces, cast iron pipe fittings, and other units engaged in the manufacturing of steel or cast iron products. Ductile iron pipe fittings are used in public water supply systems as connectors for pipes.
The company started its operations of manufacturing cast iron in the year 2012 with one submerged electric arc furnace with a capacity of 3.6 MVA to manufacture 10,500 tonnes p.a. of cast iron lumps, and thereafter, in the year 2017, it forayed into the ductile iron pipe fittings segment to cater to the growing water infrastructure requirements in the country. The company’s manufacturing unit is located in the village of Duldula, about 50 kilometers from Raipur, Chhattisgarh, and is spread across an area of around 4.73 hectares of land.
The company has been granted 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.
Objects of the Issue
The company proposes to utilize the net proceeds of the Fresh Issue towards funding the following objects:
- Funding capital expenditure towards change in electricity supply voltage from 33 KV to 132 KV at its manufacturing facility at Village Duldula, Baloda Bazar (C.G.)
- To meet Working Capital requirements
- General Corporate Purpose
- To meet issue expenses
Financial Highlights (Consolidated)
| Particulars | Period ended on 30th September 2022 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Net Worth | 1637.5 | 1057.03 | 311.55 | 44.24 |
| Total Assets | 4303.34 | 3592.61 | 2817.23 | 2990.73 |
| Total Revenue | 4824.68 | 4907.54 | 2457.53 | 3181.58 |
| Profit After Tax | 580.47 | 745.48 | 267.31 | (33.49) |
| Total Borrowing | 1092.93 | 1399.97 | 1396.82 | 1733.71 |
Earthstahl & Alloys IPO – Details
According to the DRHP filed with SEBI, the company plans to issue 3,240,000 shares of face value of ₹ 10 each, aggregating up to ₹ 12.96 crore.
| Issue Type | Book Built Issue IPO |
| IPO Price | ₹ 38 to ₹ 40 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 3,000 shares |
| Issue Size | 3,240,000 shares of ₹ 10 (Aggregating up to ₹ 12.96 Crore) |
| Fresh Issue | 3,240,000 shares of ₹ 10 (Aggregating up to ₹ [.] Crore) |
| QIB Shares Offered | 30% of the Net Issue |
| NII (HNI) Shares Offered | 35% of the Net Issue |
| Retail Shares Offered | 35% of the Net Issue |
| Listing At | BSE SME |
| Promoters | Ravi Thakurdasji LaddhaRajesh SomaniPrawin Somani Padam Kumar Jain |
GMP – Earthstahl & Alloys IPO
Earthstahl & Alloys IPO GMP, or Grey Market Premium, are available here. The IPO GMP Premium updated day by day for IPOs’ running periods, 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 – Earthstahl & Alloys IPO
Earthstahl & Alloys IPO opens on January 27 and closes on January 31, 2023.
| Opening Date | January 27, 2023 |
| Closing Date | January 31, 2023 |
| Basis of Allotment | February 3, 2023 |
| Initiation of Refunds | February 6, 2023 |
| Credit of shares to Demat A/c | February 7, 2023 |
| Listing Date | February 8, 2023 |
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Lot Size – Earthstahl & Alloys IPO
The lot size of the Earthstone & Alloys IPO is 3,000 shares. A retail-individual investor can apply for up to 1 lot, i.e., 3,000 shares of ₹ 120,000.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 3,000 | ₹ 120,000 |
| Retail (Maximum) | 1 | 3,000 | ₹ 120,000 |
| HNI (Minimum) | 2 | 6,000 | ₹ 240,000 |
Promoters Holdings – Earthstahl & Alloys IPO
| Pre-issue Shares Holdings | 100% |
| Post-issue Shares Holdings | 73.53% |
SWOT Analysis – Earthstahl & Alloys IPO
| STRENGTHS | WEAKNESSES |
|---|---|
| 1. Strategically located manufacturing plant resulting in cost and time efficiencies. 2. Environment friendly manufacturing process generating Wealth from Waste. 3. Quality Assurance. 4. Diversified Client Base and long standing relationship with customers. | 1. Excessive reliance on the bank loan for working capital requirements. 2. Company business is significantly dependent on the steel industry. 3. Under-utilization of company manufacturing capacities of foundry catering to ductile iron pipe fittings could have an adverse effect on its business. 4. The substantial portion of company revenues has been dependent upon few customers. |
| OPPORTUNITIES | THREATS |
| 1. Opportunities to expand the company’s geographical network. 2. Focus on backward integration. | 1. Competitions from organized & unorganized players in the market. 2. Changes in technologies. 3. Change in Government Policies |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP IPO RHP |
| Company Contact Information | Earthstahl & Alloys Limited Merlin Jayshree Vihar, Mohani 5 B, Pandri Tarai, Mandi Gate,Raipur- 492001 Phone: +91-8120009626 Email: secretarial@earthstahl.com Website: http://www.earthstahl.com/ |
| IPO Registrar | Bigshare Services Pvt Ltd Phone: +91-22-6263 8200 Email: ipo@bigshareonline.com Website: http://www.bigshareonline.com |
| IPO Lead Manager(s) | Hem Securities Limited |
FAQ’s
What is the Earthstahl & Alloys IPO price?
The Earthstahl & Alloys IPO price is ₹ 38 to ₹ 40 per share
What will be the Earthstahl & Alloys IPO lot size?
One lot of Earthstahl & Alloys IPO contains 3,000 shares of ₹ 120,000.
What minimum lot size can retail investors subscribe to?
The minimum investment size is one lot for retail investors.
When will Earthstahl & Alloys IPO allotment be available?
The finalisation of the basis of allotment for the Earthstahl & Alloys IPO will be done on February 3, 2023, and the allotted shares will be credited to your demat account by February 7, 2023. Check the Earthstahl & Alloys IPO allotment status.
When will Earthstahl & Alloys IPO list on exchanges?
The Earthstahl & Alloys IPO shares listing date is February 8, 2023.
How many shares in Earthstahl & Alloys IPO Offer are reserved for HNIs and retail investors?
The investors’ portion for QIB - 30%, NII (HNI) – 35%, and Retail – 35%.
