December 21, 2024
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Newmalayalam Steel listing Review
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Newmalayalam Steel IPO allotment Link
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Subscription status of Newmalayalam Steel IPO
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Newmalayalam Steel IPO (Day 2) Price Rs. 90 Lot 1600 shares, Rs. 41.76 Crore |
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| QIB | NII x | RII x | Total x | Applications |
| 1.06 | 1.13 | 11.64 | 5.86 | 14,969 |
| Amount wise bids recd. Rs. ? Crore | ||||
| Note: | ||||
What is the business of Newmalayalam Steel?
The Company is engaged in the business of manufacturing galvanised pipes, tubes, and sheets. It has been able to create a brand presence in Kerala, under the name of ‘Demac Steel’
In 2018, the Company commenced manufacturing of galvanised pipes, tubes, and sheets by installing another electric resistance welding tube mill of an installed capacity of 3,500 MT in its manufacturing unit situated at Door No. 2/546/A & 2/546/B Mala, Pallipuram P O, Mala, Thrissur – 680 732,Kerala, India.
Its products find extensive application in the general households of Kerala. Galvanised pipes and tubes are used for building the roofs to reduce heat and avoid leakage, further the galvanisation process offers an added advantage of increasing the life of the product and enhancing its quality by making it rust-free. The products are therefore manufactured to provide an effective solution to the continuous damage caused to houses in Kerala on account of inclement weather condition. Accordingly, its products experience a constant demand on account of being an indispensable raw material in the construction industry in Kerala. In order to capture the market and cater to the growing demand, in the year 2019, it increased its manufacturing capacity by installing another electric resistance welding tube mill of an installed capacity of 4,000 MT in its manufacturing unit. In order to market and sell its products, the company has established a widespread dealer base in Kerala through which it sells its products to local contractors and retailers.
Get more information about the company @ www.demacsteel.com
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Newmalayalam Steel IPO Details |
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| IPO opens on | 19 December 2024 |
| IPO closes on | 23 December 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 4640000 Shares / Rs 41.76 Crore |
| * Fresh Issue | 4640000 Shares / Rs 41.76 Crore |
| * Offer for Sale – | – shares / Rs. – crore |
| Market Maker Portion | 233600 Shares |
| Net offer to Public | 4406400 Shares/ Rs.39.66 Crore |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 85-90 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 1600 Shares |
| Listing will at | NSE SME |
Shares offered in IPO |
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| Shares | Rs. (Crore) | |
| QIB (50%) | 1847000 | 9.97 |
| NII (15%) | 554100 | 2.99 |
| RII (35%) | 1292900 | 6.99 |
| Total Shares | 4406400 | 39.66 |
| Retail portion will be oversubscribed by |
646 | |
| Forms | ||
| How much Shares to Apply in this IPO? | ||
| Min Retail Application | 1600 Shares | Rs.144000 |
| Min HNI Application | 3200 Shares | Rs. 288000 |
Who are the Promoters of Newmalayalam Steel?
THE PROMOTERS OF THE COMPANY are VAZHAPPILY DAVIS VARGHESE, DIVYAKUMAR JAIN AND ANKUR JAIN
What are the Objects of Identical Brains Studio IPO?
The Offer comprises of fresh issue of shares.
The company proposes to utilize the Net Proceeds from the offer towards funding the following objects
- IT / Technological Upgradation of existing manufacturing facility
- Expansion of the existing solar facility for power generation
- Funding of expenditure towards civil construction of new factory shed cum storage facility within the existing factory premises situated at Kerala.
- Advertising, Marketing and Brand Building
- Funding incremental working capital requirements of the Company
- Issue related expenses
- General Corporate purposes
6. General corporate purposes.
Tentative timetable |
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| IPO opens on | 19 December 2024 |
| IPO Closes on | 23 December 2024 |
| IPO Allotment on | 24 December 2024 |
| Refund Initiation | 26 December 2024 |
| Credit of Shares | 26 December 2024 |
| Listing on | 27 December 2024 |
| Registered Office of the Company Door No. 2/546/A & 2/546/B Mala, Pallipuram P O, Mala, Thrissur – 680 732, Kerala, India |
| Who is the Lead Manager of this IPO? Khandwala Securities ltd |
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Who is the Registrar to IPO? |
Newmalayalam Steel IPO GMP grey market premium, review, Subscription, allotment, listing estimate
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Newmalayalam Steel IPO Financial & Analytical Ratios |
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| Year | Total Income |
Net Profit |
EPS | RoNW |
| Rs.in Crore | Rs.in Crore | Rs. | % | |
| 2021-22 | 323.61 | 6.73 | – | – |
| 2022-23 | 359.96 | 6.00 | – | – |
| 2023-24 | 303.15 | 4.27 | 3.38 | 10.55 |
| Book Value of the Share on 31.03.2024 |
Rs | |||
| BV of the Share at cap price after IPO |
Rs. | |||
| Offer Price/upper band | Rs. | 90 | ||
Key Performance
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| Price/EPS of 23-24 | 26.67 |
| Price/BV Ratio | 2.81 |
| Debt/Equity Ratio | – |
How Newmalayalam Steel IPO compares with the Peers?
| As on date of RHP | FV | Total | PE |
| Rs. | Income | Ratio of | |
| Rs. In Crore | |||
| NewMalayalam | 10 | 300 | 26.67 |
| Apollo Pipes | 2 | 13858 | 59.10 |
| Hariom Pipes | 10 | 1153 | 32.80 |
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Newmalayalam Steel IPO Review
The company specializes in the manufacturing of galvanized pipes, tubes, and sheets, and has successfully established a strong brand presence in Kerala under the name ‘Demac Steel.’ Its products are widely used in households across the region. Galvanized pipes and tubes are particularly popular for roofing, as they help reduce heat and prevent leakage. Additionally, the galvanization process enhances the longevity and quality of the products by making them rust-resistant.
The IPO, with a net size of Rs. 39.66 crore, is modest and not excessively large. The HNI portion is relatively small at Rs. 2.99 crore, which suggests a strong potential for oversubscription. Khandwala Securities, the lead manager for the IPO, has built a reputation for delivering successful SME IPOs, with a notable track record of positive listings. The shares are priced at a price-to-earnings (PE) ratio of 26.67, which is considered reasonable and offers potential for listing gains as well as post-listing returns. While there is no current premium in the grey market for this IPO, a surge in subscription levels could drive prices higher following the listing.
+ from fundamental angle: Apply
+ from grey market angle: So.So.
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