Earthstahl & Alloys, a 2009 incorporation, is in the business of producing cast iron lumps and ductile iron pipe fittings. The cast iron lumps are used in steel foundries as a raw material to create items like cast iron pipe fittings, machine parts including latch machines, fan components, manhole covers, decorative cast iron pieces, cast iron pipe fitting, and other units involved in producing steel or cast iron goods.
Earthstahl & Alloys IPO Details
| IPO Dates | 27 – 31 January 2023 |
| IPO Price | INR 38 – 40 per share |
| Fresh issue | 32,40,000 shares (INR 12.96 crore) |
| Offer For Sale | Nil |
| Total IPO size | 32,40,000 shares (INR 12.96 crore) |
| Minimum bid (lot size) | 3,000 shares (INR 1,20,000) |
| Face Value | INR 10 per share |
| Retail Allocation | 35% |
| Listing On | BSE,SME |
Earthstahl & Alloys IPO Dates
| IPO Opening Date | 27 January 2023 |
| IPO Closing Date | 31 January 2023 |
| Finalisation of Basis of Allotment | 3 February 2023 |
| Initiation of refunds | 6 February 2023 |
| Transfer of shares to demat accounts | 7 February 2023 |
| IPO Listing Date | 8 February 2023 |
| Opening Price on BSE SME | Coming soon |
| Closing Price on BSE SME | Coming soon |
Company Overview
Earthstahl & Alloys Limited, a 2009 incorporation, manufactures cast iron granules and ductile iron pipe fittings. The company’s cast iron lumps are then utilised as a raw material to create cast iron pipe fittings, machine parts such latch machines, fan components, manhole covers, ornamental cast iron pieces, decorative cast iron pipe fitting, and other units that produce steel or cast iron goods. Ductile Iron Pipe Fittings, the company’s other main product, are used to join pipes in public water delivery systems.
In the Chhattisgarh village of Duldula, close to Raipur, Earthstahl & Alloys Limited’s manufacturing facility is situated. It occupies a plot of ground measuring roughly 4.73 hectares. Along with efficiently creating and delivering cast iron lumps and ductile iron pipe fittings, the business is also broadening its scope by using foam moulds to create parts or pieces of machinery and plant. Among these goods are factories producing pellets, cement, sponge iron, power plants, automobiles, and railway & ductile iron pipe fittings.
Company Financial Performance
| FY 2020 | FY 2021 | FY 2022 | H1 FY 2023 | |
| Revenue | 31.65 | 24.12 | 48.88 | 48.16 |
| Expenses | 32.18 | 21.15 | 38.18 | 40.42 |
| Net income | (0.33) | 2.67 | 7.45 | 5.80 |
Objects of the Issue
The company intends to utilize the proceeds of the Issue to meet the following objectives:
- Funding capital expenditure towards change in electricity supply voltage from 33 KV to 132 KV at our manufacturing facility at Village Duldula, Baloda Bazar (C.G.)
- To meet Working Capital requirements
- General Corporate Purpose
- To meet issue expenses
Earthstahl & Alloys IPO Prospectus
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/
Earthstahl & Alloys IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com
