Fixed Price IPO | ₹12 Cr | Listed at BSE SME | Tue, Jan 23, 2018 - Thu, Jan 25, 2018
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 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) (based on upper price). The minimum lot size for investment in 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 Open
Tue, Jan 23, 2018
IPO Close
Thu, Jan 25, 2018
Issue Price
₹20 per share
Market Cap (Pre-IPO)
₹21.42 Cr
| IPO Date | 23 to 25 Jan, 2018 |
| Listed on | Mon, Feb 5, 2018 |
| Face Value | ₹10 per share |
| Issue Price | ₹20 per share |
| Lot Size | 6,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 60,00,000 shares (agg. up to ₹12 Cr) |
| Reserved for Market Maker | 3,12,000 shares Aryaman Capital Markets Ltd. (agg. up to ₹0.6240 Cr) |
| Fresh Issue (Ex Market Maker) | 56,88,000 shares (agg. up to ₹11 Cr) |
| Net Offered to Public | 56,88,000 shares (agg. up to ₹11 Cr) |
| Share Holding Pre Issue | 47,10,000 shares |
| Share Holding Post Issue | 1,07,10,000 shares |
| BSE Script Code | 540923 ASHOKAMET |
| ISIN | INE760Y01011 |
Ashoka Metcast IPO comprises a total issue size of 60,00,000 shares. The net offer to the public is 56,88,000 shares, after excluding 3,12,000 shares allotted on a firm basis. Of the Net offer 28,44,000 (50.00%) allocated to NII 28,44,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 28,44,000 | 50.00% | 47.40% |
| Retail Shares Offered | 28,44,000 | 50.00% | 47.40% |
| Firm Reservations | |||
| Market Maker Shares Offered | 3,12,000 | 5.20% | |
| Total Shares Offered | 60,00,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 6,000 shares and in multiples thereof.
| 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.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 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 |
The Ashoka Metcast IPO is subscribed 1.57 times on January 25, 2018 5:00:00 PM (Day 3). The public issue subscribed 2.63 times in the retail category, [.] times in the QIB category, and 0.51 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 0.51 | 28,44,000 | 14,40,000 |
| Retail | 2.63 | 28,44,000 | 74,82,000 |
| Total | 1.57 | 56,88,000 | 89,22,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to Merchant Banker including fees and reimbursement of selling commissions, underwriting, brokerage, payment to Legal Advisors, Registrars | 0.34 |
| 2 | Printing & Stationery, Distribution, Postage, etc. | 0.03 |
| 3 | Advertisement and Marketing Expenses | 0.03 |
| 4 | Listing Fees, Market Making fees, Market Regulatory & Other Expenses | 0.10 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹20.00 |
| Open | ₹16.00 |
| Low | ₹16.00 |
| High | ₹16.00 |
| Last Trade | ₹16.00 |
Lead Manager Reports
Ashoka Metcast IPO is a SME IPO of 60,00,000 equity shares of the face value of ₹10 aggregating up to ₹12 Crores. The issue is priced at ₹20 per share. The minimum order quantity is 6000.
The IPO opens on Tue, Jan 23, 2018, and closes on Thu, Jan 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 Tue, Jan 23, 2018 and closes on Thu, Jan 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 Mon, Feb 5, 2018.
