Chaman Metallics IPO Analysis at Chanakyanipothi.com
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Chaman Metallics: Company Details

Chaman Metallics is primarily engaged in the business of manufacturing and selling of Direct Reduced Iron. Sponge iron is mainly used as a raw material for making steel in electric arc furnaces and induction furnaces. Through its sponge iron business, it caters to the metallic requirements of steel producers in selected geographies. The Company was under the control of MSP Group from 2006 to 2019. In 2019, the Company was acquired by Raipur-based GR Group which is in steel business since 1996.
Its business operations are organized synergistically, and it derives benefits after its acquisition by GR Group, which operates in various segment of steel i.e. Ferro alloys, Sponge Iron, MS Ingots and re-rolled products.
The manufacturing unit is based at Chandrapur, Maharashtra and is spread across an area of around 63 acres of land. At its sponge iron manufacturing facility, it operates 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.

The strategic location of its sponge iron manufacturing facility aids its access to high-quality iron ore, iron ore pellets, coal and dolomite which are the major raw materials for sponge iron manufacturing. During the production of sponge iron, a solid waste is produced as a by-product called dolochar. For the Fiscal 2022, its revenue from operations stood at Rs. 18,486.79 lakhs of which revenue from sponge iron, dolochar and other items contributed 97.94%, 0.99% and 1.06% respectively.
It 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.
The company operates from its manufacturing facility located at Chandrapur, Maharashtra having an installed capacity of 72,000 MT for production of sponge iron. It is strategically located and is well connected with road for transportation of raw materials & finished goods.

For more information about the company, Click www.cmlgrgroup.com

Promoters of the IPO
Chetan Agrawal, Keshav Kumar Agrawal, G.R. Sponge and Power Limited and N.R. Sponge Private Limited

Objects of the IPO:
The Company intends to utilize the Net Fresh Issue Proceeds for funding working capital requirements.

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