Owais Metal and Mineral Processing Limited IPO Detail
Owais Metal and Mineral Processing Limited was established in 2022 and is engaged in the production and processing of metals and minerals. Prior to the incorporation of the company, the business of the company was carried on under the name of M/s Owais Ali Overseas, a sole proprietorship firm of the promoter Mr. Saiyyed Owais Ali.
The company is engaged in the manufacturing and processing of the following products
- Manganese oxide (MNO): It is used in the fertilizer industry and manganese sulphate plants
- MC Ferro Manganese: used in the steel and casting industry
- Charcoal production: used in furnaces in industries that require high heat for their manufacturing process, e.g. the steel industry
- Processing of minerals such as ferroalloys, quartz, and manganese ore: used in the hotel industry, the tile and ceramics industry, the glass industry, and the interior design and furniture industry.
The company supplies its products to the states of Madhya Pradesh, Maharashtra, Punjab, Delhi and Gujrat.
The company's manufacturing facility is located in Meghnagar, Madhya Pradesh. As of December 31, 2023, the company had 25 permanent employees.
Company Promoters
Mr. Saiyyed Owais Ali, Mr. Sayyad Akhtar Ali, and Mr. Saiyyed Murtuza AliIPO Details
| IPO Opening Date | Feb 26, 2024 |
| IPO Closing Date | Feb 28, 2024 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹83 - 87 per equity share |
| Market Lot | 1600 Shares |
| Min Order Quantity | 1600 Shares |
| Listing At | NSE SME |
| Issue Size | ₹42.69 Cr |
| Fresh Issue | ₹42.69 Cr |
| Offer for Sale | - |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.01x | 0.00x | 0.00x | 6.09x | 10.04x | 6.33x |
| Day 2 | 0.71x | 0.00x | 0.00x | 37.30x | 79.55x | 47.99x |
| Day 3 | 92.06x | 0.00x | 0.00x | 329.36x | 248.50x | 221.18x |
IPO Tentative Timetable
The Owais Metal and Mineral Processing Limited IPO open date is Feb 26, 2024, and the close date is Feb 28, 2024. The issue may list on Mar 04, 2024.
| IPO Open Date | Feb 26, 2024 |
| IPO Close Date | Feb 28, 2024 |
| Basis of Allotment Date | Feb 29, 2024 |
| Initiation of Refunds | Mar 01, 2024 |
| Credit of Shares to Demat Account | Mar 01, 2024 |
| IPO Listing Date | Mar 04, 2024 |
IPO Lot Size
The Owais Metal and Mineral Processing Limited IPO market lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or ₹139200).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1600 | ₹139200 |
| Maximum | 1 | 1600 | ₹139200 |
IPO Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 73.01% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-23 | 379.62 | - | -12.72 |
| 31-Dec-23 | 5164.23 | 3977.54 | 765.47 |
Objects of the Issue:
The company intends to utilize the Net Fresh Issue Proceeds for the following Objects:
- Purchase of Equipment to Facilitate Manufacturing
- Working Capital Requirements
- General Corporate Purposes.
Owais Metal and Mineral Processing Limited IPO Registrar:
Bigshare Services Pvt Ltd
Owais Metal and Mineral Processing Limited IPO Lead Manager(s):
Gretex Corporate Services Limited
Company Contact Information:
Owais Metal and Mineral Processing Limited
C/o Sayyad Akhtar Ali Vahid Nagar,
Old Baipass Road NA
Ratlam - 457001
