Chaman Metallics Limited IPO Detail
Incorporated in 2003, Chaman Metallics Limited is primarily engaged in the business of manufacturing and selling of Direct Reduced Iron (i.e. sponge iron). Sponge iron is mainly used as a raw material for making steel in electric arc furnaces and induction furnaces.
Chaman Metallics has been granted ISO 9001:2015 for its superior management systems, ISO 14001:2015 for environmental management systems, and ISO 45001:2018 for occupational health and safety management system proficiency.
The company manufacturing unit is based in Chandrapur, Maharashtra. The manufacturing facility is spread across an area of around 63 acres of land. The unit has a capacity of 72,000 MT (2 X 100 MTPD) for the production of sponge iron through two Rotary kilns as of March 31, 2022.
The company sell its products primarily in the state of Maharashtra, Odisha and Chhattisgarh. Some of the company's customers include Rajesh Steel & Wire Industries (New), R.K. Steel Sales, SMW Ispat Pvt Ltd, Gajkesari Steels & Alloys Pvt. Ltd etc.
Some of the competitive strengths, Chaman Metallics is proud of, are:
- Strategically located manufacturing unit
- Stringent quality control mechanism ensuring standardized product quality
- Long-standing relationship with our customers
- Well Qualified and Experienced Management Team
Company Promoters
Chetan Agrawal, Keshav Kumar Agrawal, G.R. Sponge and Power Limited, and N.R. Sponge Private LimitedIPO Details
| IPO Opening Date | Jan 04, 2023 |
| IPO Closing Date | Jan 06, 2023 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹38 per equity share |
| Market Lot | 3000 Shares |
| Min Order Quantity | 3000 Shares |
| Listing At | NSE SME |
| Issue Size | ₹24.21 Cr |
| Fresh Issue | ₹24.21 Cr |
| Offer for Sale | - |
| Retail Portion | 50% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | - | - | 1.87x | 7.78x | 4.83x | |
| Day 2 | - | - | 11.16x | 28.55x | 19.86x | |
| Day 3 | - | - | 255.92x | 159.85x | 207.88x |
IPO Tentative Timetable
The Chaman Metallics Limited IPO open date is Jan 04, 2023, and the close date is Jan 06, 2023. The issue may list on Jan 16, 2023.
| IPO Open Date | Jan 04, 2023 |
| IPO Close Date | Jan 06, 2023 |
| Basis of Allotment Date | Jan 11, 2023 |
| Initiation of Refunds | Jan 12, 2023 |
| Credit of Shares to Demat Account | Jan 13, 2023 |
| IPO Listing Date | Jan 16, 2023 |
IPO Lot Size
The Chaman Metallics Limited IPO market lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹114000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 3000 | ₹114000 |
| Maximum | 1 | 3000 | ₹114000 |
IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 73.60% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-20 | 5399.39 | 5837.14 | 369.46 |
| 31-Mar-21 | 5872.4 | 14075.89 | 523.07 |
| 31-Mar-22 | 7378.59 | 18546.32 | 934.65 |
| 30-Sep-22 | 9085.52 | 11182.43 | 681.74 |
Objects of the Issue:
The company intends to utilize the proceeds of the Issue to meet the following objectives: -
- To meet Working Capital requirements
- General Corporate Purpose
- To meet issue expenses
Chaman Metallics Limited IPO Registrar:
Link Intime India Private Ltd
Chaman Metallics Limited IPO Lead Manager(s):
Hem Securities Limited
Company Contact Information:
Chaman Metallics Limited
A-26, M.I.D.C,
Tadali Growth Centre,
Chandrapur, Maharashtra-442406
