Newmalayalam Steel IPO - Day 3 Subscription at 16.66 Times

Newmalayalam Steel's initial public offering (IPO) has received robust investor interest over the three-day period. The IPO witnessed steady growth in demand, with subscription rates growing from 2.38 times on day one, to 5.86 times on day two, and reaching 16.66 times by 12:09 PM on the final day.

Newmalayalam Steel IPO, which opened on 19th December 2024, has seen strong participation across categories. The Retail Investors segment has shown exceptional interest, reaching 32.45 times subscription, while Non-Institutional Investors achieved 4.31 times subscription. The QIB portion stands at 1.13 times.

This strong response comes amid positive sentiment in the Indian stock market, particularly towards companies in the steel manufacturing sector. Being listed on the NSE SME platform, the issue has attracted significant retail investor attention.

Subscription Status of Newmalayalam Steel IPO:

*As of 12:09 PM

Here are the subscription details for Newmalayalam Steel IPO as of Day 3 (23rd December 2024, 12:09 PM):

Total Applications: 42,097

Note:

• "Shares Offered" and "Total Amount" are calculated based on the upper price of the issue price range.
• The portion of market maker is not included in the total number of shares offered.

Newmalayalam Steel IPO Key Highlights:

• Overall subscription reached 16.66 times on the final day
• Retail investors showed exceptional interest with 32.45 times subscription, worth ₹579.50 crores
• Non-Institutional Investors achieved 4.31 times subscription
• QIB portion reached 1.13 times subscription
• Total bids received for 7.34 crore shares worth ₹660.79 crores
• Applications reached 42,097, showing strong retail interest
• Market response indicates robust demand for SME listings
• The retail segment showed remarkable oversubscription
• Final day response demonstrated strong momentum

Newmalayalam Steel IPO - Day 2 Subscription at 5.86 Times

Key Highlights:

• Overall subscription reached 5.86 times
• Retail investors showed strong interest with 11.64 times subscription
• Non-institutional investors increased to 1.13 times
• QIB portion maintained at 1.06 times
• Day two witnessed accelerated participation
• Market response showed building momentum
• All segments demonstrated steady growth
• Subscription trend indicated growing confidence
• Retail segment maintained strong lead

Newmalayalam Steel IPO - Day 1 Subscription at 2.38 Times

Key Highlights:

• Overall subscription opened at 2.38 times
• Retail investors led with 4.62 times subscription
• Non-institutional investors showed initial interest at 0.44 times
• QIB portion started strong at 1.06 times
• Opening day witnessed good response
• Initial momentum indicated market confidence
• Day one subscription exceeded expectations
• Market response suggested strong potential
• Retail segment showed early enthusiasm

About Newmalayalam Steel Limited 

Incorporated in 2017, Newmalayalam Steel Limited has established itself as a manufacturer of galvanised pipes, tubes, and sheets. The company operates an electric resistance welding tube mill with an installed capacity of 3,500 MT in their manufacturing unit in Kerala, India. The company's products are marketed under the brand name "Demac Steel" and have established strong brand equity in the market.

The company serves notable clients including Jaihind Steel Private Limited, Aashico Ventures LLP, and George Infra Private Limited. Their financial performance shows some fluctuation with revenue decreasing by 15.78% and PAT dropping by 28.91% between FY2023 and FY2024, though the company has demonstrated strong growth potential in recent periods.

Their competitive strengths lie in their widespread distribution network, diversified product portfolio, established brand recall, strong client relationships, quality assurance practices, and strategically located manufacturing facilities with modern infrastructure.

Highlights of the Newmalayalam Steel IPO

• IPO type: Book Built Issue SME IPO
• IPO size: ₹41.76 crores
• Fresh Issue: 46.40 lakh shares
• Face value: ₹10 per share
• Price band: ₹85 to ₹90 per share
• Lot size: 1,600 shares
• Minimum investment for retail investors: ₹1,44,000
• Minimum investment for HNI: ₹2,88,000 (2 lots)
• Market maker reservation: 2,33,600 shares
• Listing at: NSE SME
• IPO opens: 19th December 2024
• IPO closes: 23rd December 2024
• Allotment date: 24th December 2024
• Refund initiation: 26th December 2024
• Credit of shares: 26th December 2024
• Listing date: 27th December 2024
• Lead Manager: Khandwala Securities Limited
• Registrar: Kfin Technologies Limited
• Market Maker: Aftertrade Broking Pvt Ltd