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Ashoka Metcast IPO is a fixed price issue of ₹12.00 crores. The issue is entirely a fresh issue of 0.60 crore shares of ₹12.00 crore.
Ashoka Metcast IPO bidding started from Jan 23, 2018 and ended on Jan 25, 2018. The shares got listed on BSE SME on Feb 5, 2018.
Ashoka Metcast IPO price is ₹20.00 per share . The lot size for an application is 6,000. The minimum amount of investment required by an individual investor (retail) is ₹1,20,000 (6000 shares). The minimum lot size investment for HNI is 2 lots (12,000 shares), amounting to ₹2,40,000.
Aryaman Financial Services Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The market maker of the company is Aryaman Capital Markets Ltd..
Refer to Ashoka Metcast IPO RHP for detailed Information.
| IPO Date | January 23, 2018 to January 25, 2018 |
| Listing Date | February 5, 2018 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹20 per share |
| Lot Size | 6,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 60,00,000 shares (aggregating up to ₹12.00 Cr) |
| Reserved for Market Maker | 3,12,000 shares Aryaman Capital Markets Ltd. (aggregating up to ₹0.6240 Cr) |
| Net Offered to Public | 56,88,000 shares (aggregating up to ₹11.38 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 47,10,000 shares |
| Share Holding Post Issue | 1,07,10,000 shares |
Ashoka Metcast IPO offers total 60,00,000 shares. Out of which 28,44,000 (47.40%) allocated to NII, 28,44,000 (47.40%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 3,12,000 (5.20%) |
| NII (HNI) Shares Offered | 28,44,000 (47.40%) |
| Retail Shares Offered | 28,44,000 (47.40%) |
| Total Shares Offered | 60,00,000 (100.00%) |
Ashoka Metcast IPO opens on January 23, 2018, and closes on January 25, 2018.
| IPO Open Date | Tue, Jan 23, 2018 |
| IPO Close Date | Thu, Jan 25, 2018 |
| Tentative Listing Date | Mon, Feb 5, 2018 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Jan 25, 2018 |
Investors can bid for a minimum of 6,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 6,000 | ₹1,20,000 |
| Retail (Max) | 1 | 6,000 | ₹1,20,000 |
| HNI (Min) | 2 | 12,000 | ₹2,40,000 |
Incorporated in 2009, Ashoka Metcast Limited is Ahmedabad Gujrat-based company engaged in trading of structural steel products such as Round Bars, Flat Bars etc. Company is proposing to manufacture structural steel products like TMT bars, angles, channels, MS Bars etc.
Ashoka Metcast Limited is part of a diversified business group with business interests in various sectors including Oil and Gas, Steel, Infrastructure, Electronic Equipments and Real Estate. Its flagship Group Company - Gujarat Natural Resources Limited is engaged in the business of Oil & Gas exploration and production and currently has participating interests in 6 producing blocks in Cambay basin and is operator in four of these blocks. The company is listed on BSE and has a market capitalisation of around 125 crores.
The Company Ashoka Metcast IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Investment in subsidiary company – SGRMPL for funding capital expenditure requirements in relation to revival and modernisation of existing manufacturing facility at Kadi, Gujarat and working capital requirements | 7.40 |
| 2 | Repayment of loans | 2.10 |
| 3 | Funding expenditure for General Corporate Purposes | 2.00 |
[Dilip Davda] <p>Considering fully priced issue, cash surplus risk savvy investors may consider investment for long term. (Other- apply at your own risk). </p> Read detail review...
| Listing Date | February 5, 2018 |
| BSE Script Code | 540923 |
| NSE Symbol | ASHOKAMET |
| ISIN | INE760Y01011 |
| Final Issue Price | ₹20 per share |
| BSE Listing Group | M |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹20.00 |
| Open | ₹16.00 |
| Low | ₹16.00 |
| High | ₹16.00 |
| Last Trade | ₹16.00 |
Ashoka Metcast Ltd.
7th Floor, Ashoka Chambers, Opposite HCG Hospital
Mithakhali Six Roads,
Mithakhali
Ahmedabad, Gujarat, 380006
Phone: +91- 79- 2646 3226
Email: info@ashokametcast.in
Website: http://www.ashokametcast.in/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Ashoka Metcast IPO is a SME IPO of 60,00,000 equity shares of the face value of ₹10 aggregating up to ₹12.00 Crores. The issue is priced at ₹20 per share. The minimum order quantity is 6000.
The IPO opens on January 23, 2018, and closes on January 25, 2018.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Ashoka Metcast IPO using UPI as a payment gateway. Zerodha customers can apply in Ashoka Metcast IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Ashoka Metcast IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Ashoka Metcast IPO opens on January 23, 2018 and closes on January 25, 2018.
Ashoka Metcast IPO lot size is 6000, and the minimum amount required for application is ₹1,20,000.
You can apply in Ashoka Metcast IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Ashoka Metcast IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Ashoka Metcast IPO allotment status.
The Ashoka Metcast IPO listing date is on Monday, February 5, 2018.
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