Kalana Ispat IPO
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
IPO Timeline
Kalana Ispat IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 19-Sep-24 | - | 0.19 | 1.37 | 0.78 |
Last Updated: 19 September 2024 6:10 PM 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) | 0.19 | 23,45,000 | 4,42,000 | 2.92 |
| Retail | 1.37 | 23,45,000 | 32,04,000 | 21.15 |
| Total | 0.78 | 46,90,000 | 36,46,000 | 24.06 |
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
| 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.
Contact Information
Kalana Ispat
Kalana Ispat Limited
504, Ashwamegh Avnue,
5th Floor, Nr Mithakhali Underbridge
Mithakhali, Ahmedabad,-380009
Phone: +91-81418 48159
Email: compliance@kalanaispat.com
Website: https://kalanaispat.com/
Kalana Ispat IPO Register
Skyline Financial Services Private Ltd
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
Kalana Ispat IPO Lead Manager
Jawa Capital Services Private Limited
