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Newmalayalam Steel IPO

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NSE 19 December - 23 December 2024
Newmalayalam Steel Limited IPO is a book build issue of 41.76 Cr. The issue is entirely a fresh issue of 4640000 shares aggregating to 41.76 Cr. Newmalayalam Steel Limited IPO opened for subscription on Dec 19, 2024 and closed on Dec 23, 2024. The allotment for the this IPO was finalized on Dec 24, 2024. IPO was listed on NSE and BSE on Dec 27, 2024. Newmalayalam Steel Limited IPO is set issue price band at ₹85 to ₹90 per share.

Current GMP

₹30 (+33.33%)

Price Band

₹ 85 – 90

Lot Size

1600

Issue Size

₹41.76 Cr

Minimum Investment

₹288000 (3200 Shares)

Listing Date

27 December 2024

Subscription

50.74x

About the Company

Newmalayalam Steel Limited (NMSL) was incorporated in 2017 to take over the entire business of M/s. Demac Steel, including its assets and liabilities, through a Business Transfer Agreement. The total consideration for the transfer was ₹532.39 lakhs, paid by issuing equity shares to Vazhappily Davis Varghese, the sole proprietor of M/s. Demac Steel. The company, led by promoters including Vazhappily Davis Varghese and others, is engaged in manufacturing galvanised pipes, tubes, and sheets, with a focus on the construction industry in Kerala.

The company started its operations in 2018 with the installation of an electric resistance welding tube mill, followed by another mill in 2019 to meet growing demand. NMSL markets its products through a widespread dealer network across Kerala, supplying to contractors, retailers, and wholesalers. The company has built a strong brand presence in the region, leveraging innovative marketing and strong relationships with dealers.

NMSL adheres to stringent quality standards through its Quality Division, which conducts comprehensive tests on raw materials and finished products at its in-house laboratory. Additionally, the company has invested in a solar plant with an installed capacity of 489.77 kWp to power its manufacturing unit, enhancing its environmental sustainability and reducing reliance on external power sources.

The company's commitment to quality, extensive distribution network, and focus on sustainability have positioned it as a preferred brand in Kerala's galvanised pipe and tube market.

Promoters

  1. Vazhappily Davis Varghese
  2. Divyakumar Jain
  3. Ankur Jain
  4. Mahendra Kumar Jain
  5. Molly Varghese 
  6. Cyriac Varghese
Promoters Holding

Holding Pre Issue

99.80%

Holding Post Issue

73.02%

Objects of the Issue

The company proposes to utilize the Net Proceeds from the offer towards funding the following objects

  1. IT / Technological Upgradation of existing manufacturing facility
  2. Expansion of the existing solar facility for power generation
  3. Funding of expenditure towards civil construction of new factory shed cum storage facility within the existing factory premises situated at Kerala.
  4. Advertising, Marketing and Brand Building
  5. Funding incremental working capital requirements of the Company
  6. Issue related expenses
  7. General Corporate purposes

Address / Contact Info

Newmalayalam Steel Limited
Door No. 2/546/A & 2/546/B Mala
Pallipuram P O, Mala, Thrissur
680 732, Kerala

Phone: +91 703 421 2002
Email: info@demacsteel.com
Website: https://demacsteel.com/

IPO Snapshot

Face Value₹10 per share
Price Band₹ 85 – 90
Lot Size1600
Issue TypeBook-building IPO
Sale Type
Fresh Issue₹ 41.76 Cr
Offer for Sale₹ 0.00 Cr
Total Issue Size₹ 41.76 Cr
Listing AtNSE
Industry
Sector
QIB Quota0%
Retail Quota0%

Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.

Frequently Asked Questions

Everything you need to know before applying to an IPO.

Newmalayalam Steel IPO is a Book-building IPO worth ₹41.76 crores. The price band is ₹85 to 90 per share. The IPO opens on Thu, Dec 19, 2024 and closes on Mon, Dec 23, 2024. It will be listed on BSE and NSE. Kfin Technologies Limited is the registrar.

The Newmalayalam Steel IPO opens on Thu, Dec 19, 2024 and closes on Mon, Dec 23, 2024

Newmalayalam Steel IPO Price Band is ₹85 to 90.

Newmalayalam Steel IPO lot size is 1600, and the minimum amount required for application is ₹288000.

The minimum investment for Newmalayalam Steel IPO is approximately ₹288000 based on the upper price band.

To apply for the Newmalayalam Steel IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Mon, Dec 23, 2024. After submission, funds are blocked until the basis of allotment of Newmalayalam Steel IPO is finalised.

Newmalayalam Steel IPO issue size is ₹41.76 crores.

Newmalayalam Steel IPO allotment date is Sat, Jun 27, 2026.

The registrar for Newmalayalam Steel IPO is Kfin Technologies Limited. Investors can go to Kfin Technologies Limited website for IPO allotment status, refund processing, and other queries related to Newmalayalam Steel IPO through their official website or helpline.

The Newmalayalam Steel IPO GMP (Grey Market Premium) is ₹30 as of Fri, Dec 27, 2024. Based on the upper price band of ₹90 per share, the estimated Newmalayalam Steel IPO listing price is ₹120, indicating a potential listing gain of approximately 31% over the issue price.