Earthstahl & Alloys IPO: GMP, Size, Issue Price

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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 
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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: 

  1. 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.) 
  1. To meet Working Capital requirements 
  1. General Corporate Purpose 
  1. 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
Websitehttp://www.earthstahl.com/

Earthstahl & Alloys IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Websitehttp://www.bigshareonline.com

Earthstahl & Alloys IPO Lead Manager(s)

  1. Hem Securities Limited (Past IPO Performance)

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