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Earthstahl & Alloys Limited IPO Detail

Earthstahl & Alloys Limited IPO Detail

Incorporated in 2009, Earthstahl & Alloys Limited is engaged in the business of manufacturing Cast Iron Lumps and Ductile Iron Pipe Fittings. The Cast Iron Lumps manufactured by the company are then used in the form of raw material to manufacture products like cast iron pipe fittings, machine components such as latche machines, fan components, manhole covers, decorative cast iron pieces, cast iron pipe fitting and other units engaged in manufacturing of steel or cast iron products.

The other primary product of the company, i.e., Ductile Iron Pipe Fittings are used in public water supply systems as connectors of pipes.

The manufacturing unit of Earthstahl & Alloys Limited is located in the village of Duldula nearby Raipur, Chhattisgarh, and is spread across an area of around 4.73 hectares of land.

Alongside the efficient manufacturing and delivery of Cast iron Lumps and Ductile iron pipe fittings, the entity is also expanding its horizon by producing parts or components of plant and machinery with the help of foam molds. These products include Pellet plants, Cement plants, Sponge iron plants, Power plants, Automobile Sector, and Railway & Ductile Iron Pipes Fittings.

Company Promoters

Ravi Thakurdasji Laddha, Rajesh Somani, Prawin Somani and Padam Kumar Jain are the promoters of the company.

IPO Details

IPO Opening DateJan 27, 2023
IPO Closing DateJan 31, 2023
Issue TypeBook Built Issue IPO
Face Value₹10 per equity share
IPO Price ₹38 - 40 per equity share
Market Lot3000 Shares
Min Order Quantity3000 Shares
Listing AtBSE SME
Issue Size₹12.96 Cr
Fresh Issue3,240,000 shares of ₹10 (aggregating up to ₹[.] Cr)
Offer for Sale-
Retail Portion 35%

IPO Subscription (Bidding Detail)

AS On QIB SHNI BHNI NII RII TOTAL
Day 1 2.58x - - 5.46x 9.61x 6.05x
Day 2 4.26x - - 16.32x 43.17x 22.13x
Day 3 39.83x - - 445.09x 191.77x 235.18x

IPO Tentative Timetable

The Earthstahl & Alloys Limited IPO open date is Jan 27, 2023, and the close date is Jan 31, 2023. The issue may list on Feb 08, 2023.

IPO Open DateJan 27, 2023
IPO Close DateJan 31, 2023
Basis of Allotment DateFeb 03, 2023
Initiation of RefundsFeb 06, 2023
Credit of Shares to Demat AccountFeb 07, 2023
IPO Listing DateFeb 08, 2023

IPO Lot Size

The Earthstahl & Alloys Limited IPO market lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹120000).

ApplicationLotsSharesAmount (Cut-off)
Minimum13000₹120000
Maximum13000₹120000

IPO Promoter Holding

Pre Issue Share Holding100.00%
Post Issue Share Holding73.53%

Company Financials:

For the year/period ended (₹ in Lakhs)

Financial Year Total Assets Total Revenue Profit After Tax
31-Mar-21 2817.23 2457.53 267.31
31-Mar-22 3592.61 4907.54 745.48
30-Sep-22 4303.34 4824.68 580.47

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.)
  2. To meet Working Capital requirements
  3. General Corporate Purpose
  4. To meet issue expenses

Earthstahl & Alloys Limited IPO Registrar:

Bigshare Services Pvt Ltd

Earthstahl & Alloys Limited IPO Lead Manager(s):

Hem Securities Limited

Company Contact Information:

Earthstahl & Alloys Limited

Merlin Jayshree Vihar, Mohani 5 B, Pandri Tarai, Mandi Gate

Raipur

Raipur