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Kalana Ispat IPO

  • Status: Closed
  • RHP:
  • ₹ 132,000 / 2000 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    26 Sep 2024

  • Listing Price

    ₹ 45.15

  • Listing Change

    -31.59%

  • Last Traded Price

    ₹ 44.85

IPO Details

  • Open Date

    19 Sep 2024

  • Close Date

    23 Sep 2024

  • IPO Price Range

    ₹ 66

  • IPO Size

    ₹ 32.59 Cr

  • Listing Exchange

    NSE SME

  • Listing Date

    26 Sep 2024

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Timeline Subscription Status Objective Financials SWOT FAQ Contacts

IPO Timeline

Kalana Ispat IPO Subscription Status

Last Updated: 24 September 2024 10:07 AM by 5Paisa

Kalana Ispat IPO is set to open on 19 September 2024 and will close on 23 September 2024. Kalana Ispat mainly manufactures mild steel (M.S.) billets and alloy steel billets in different grades.

The IPO includes a fresh issue of 49.38 lakh shares aggregating ₹32.59 Cr and it does not include offer for sale. The price range is set at ₹66 per share and the lot size is 2,000 shares. 

The allotment is scheduled to be finalized on 24 September 2024. It will go public on NSE SME, with a tentative listing date of 26 September 2024.

Jawa Capital Services Private Limited is the book running lead manager, while Skyline Financial Services Private Ltd is the registrar. 
 

Kalana IPO Size

Types Size (₹Cr)
Total IPO Size 32.59
Offer For Sale -
Fresh Issue 32.59

 

Kalana IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 2000 ₹132,000
Retail (Max) 1 2000 ₹132,000
HNI (Min) 2 4,000 ₹264,000

 

Kalana IPO Reservation

Investors Category Subscription (times) Shares Offered Shares bid for Total Amount (Cr.)
NII (HNI) 40.65 23,45,000 9,53,18,000 629.10
Retail 74.26 23,45,000 17,41,36,000 1,149.30
Total 59.76 46,90,000 28,02,66,000 1,849.76

 

1. Capex for rolling mill set up at Sanand, Ahmedabad
2. General corporate purposes.

Kalana Ispat was established in October 2012 and started out by trading scrap metal, sourcing it from both imports and local suppliers. In 2015, the company expanded into manufacturing MS billets by setting up a facility in Ahmedabad, Gujarat, where it also produces MS blocks and alloy steel billets.

The company operates from its plant in Sanand, Ahmedabad. As of 31 December 2023, the plant was running at full capacity, producing 38,000 metric tons annually. By September 2024, Kalana Ispat had three key management staff and fifteen employees, with additional temporary workers hired through agencies when needed.

Peers

Supershakti Metaliks Ltd
Incredible Industries Limited
Gallantt Ispat Limited
 

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY24 FY23 FY22
Revenue 73.94 83.36 57.93
EBITDA 2.37 0.50 0.14
PAT 3.65  1.44  0.79
Particulars (in Rs. Crores) FY24 FY23 FY22
Total Assets 18.86 16.17 12.65
Share Capital 8.10  1 1
Total Borrowings 4.61 8.62 2.61
Particulars (in Rs. Crores) FY24 FY23 FY22
Net Cash Generated From / (used in) operating activities -0.04  -4.68 -2.24
Net Cash Generated From / (used in) investing activities 0.02  -0.21 0.05
Net Cash Generated From / (used in) financing activities -0.27  5.46 -0.28
Net Increase (Decrease) In Cash And Cash Equivalents -0.28  0.57 -2.48

Strengths

Kalana Ispat benefits from a capable leadership that brings industry experience and strategic decision making to the company's operations, ensuring steady growth and stability.

The company maintains a dedicated marketing team that focuses on building strong, friendly relationships with both customers and suppliers, helping secure consistent demand and supply.

The manufacturing plant's location in Sanand, Ahmedabad offers logistical advantages, improving access to resources, suppliers and markets. This boosts the company’s operational efficiency.

Risks

Kalana Ispat relies heavily on the availability of scrap metal from imports and local suppliers. Any disruption in supply chains or price fluctuations could impact production costs and operations.

With a small core team and reliance on temporary manpower, the company may face challenges in managing large scale production or handling sudden increases in demand.

Steel and metal industry is highly competitive and Kalana Ispat may face pressure from larger manufacturers which could affect its market share and pricing power.
 

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FAQs

Kalana Ispat IPO opens from 19th September to 23rd September 2024.

The size of the Kalana Ispat IPO is ₹32.59 Cr.

The price of the Kalana Ispat IPO is fixed at ₹66 per share. 

To apply for Kalana Ispat IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the Kalana Ispat IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    

You will receive a mandate notification to block funds in your UPI app.
 

The minimum lot size of Kalana Ispat IPO is 2,000 shares and the investment required is ₹1,32,000.

The share allotment date of Kalana Ispat IPO is 24th September 2024

The Kalana Ispat IPO will be listed on 26th September 2024.

Jawa Capital Services Private Limited is the book running lead manager for Kalana Ispat IPO.

Kalana Ispat plans to utilize the raised capital from the IPO for:

1. Capex for rolling mill set up at Sanand, Ahmedabad
2. General corporate purposes.