Bookbuilding IPO | ₹13 Cr | Listed at BSE SME | Fri, Jan 27, 2023 - Tue, Jan 31, 2023
Earthstahl IPO is a book build issue of ₹12.96 crores. The issue is entirely a fresh issue of 0.32 crore shares of ₹12.96 crore.
Earthstahl IPO bidding started from Jan 27, 2023 and ended on Jan 31, 2023. The allotment for Earthstahl IPO was finalized on Feb 3, 2023. The shares got listed on BSE SME on Feb 8, 2023.
Earthstahl IPO price band is set at ₹40 per share. The lot size for an application is 3,000. The minimum amount of investment required by an retail is ₹1,20,000 (3000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (6,000 shares), amounting to ₹2,40,000.
Hem Securities 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 Hem Securities Ltd..
Refer to Earthstahl IPO RHP for detailed Information.
IPO Open
Fri, Jan 27, 2023
IPO Close
Tue, Jan 31, 2023
Issue Price
₹40 per share
Market Cap (Pre-IPO)
₹48.96 Cr
| IPO Date | 27 to 31 Jan, 2023 |
| Listed on | Wed, Feb 8, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹38 to ₹40 |
| Issue Price | ₹40 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 32,40,000 shares (agg. up to ₹13 Cr) |
| Reserved for Market Maker | 1,68,000 shares Hem Securities Ltd. (agg. up to ₹0.6720 Cr) |
| Fresh Issue (Ex Market Maker) | 30,72,000 shares (agg. up to ₹12 Cr) |
| Net Offered to Public | 30,72,000 shares (agg. up to ₹12 Cr) |
| Share Holding Pre Issue | 90,00,000 shares |
| Share Holding Post Issue | 1,22,40,000 shares |
| BSE Script Code | 543765 |
| ISIN | INE0O4V01010 |
Earthstahl IPO comprises a total issue size of 32,40,000 shares. The net offer to the public is 30,72,000 shares, after excluding 1,68,000 shares allotted on a firm basis. Of the Net offer 9,18,000 (29.88%) are allocated to QIB, 10,77,000 (35.06%) allocated to NII 10,77,000 (35.06%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 9,18,000 | 29.88% | 28.33% |
| NII (HNI) Shares Offered | 10,77,000 | 35.06% | 33.24% |
| Retail Shares Offered | 10,77,000 | 35.06% | 33.24% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,68,000 | 5.19% | |
| Total Shares Offered | 32,40,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 3,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3,000 | ₹1,20,000 |
| Retail (Max) | 1 | 3,000 | ₹1,20,000 |
| HNI (Min) | 2 | 6,000 | ₹2,40,000 |
Incorporated in 2009, Earthstahl & Alloys Limited is engaged in the business of manufacturing Cast Iron Lumps and Ductile Iron Pipe Fittings. The Cast Iron Lumps manufactured by the company are then used in the form of raw material to manufacture products like cast iron pipe fittings, machine components such as latche machines, fan components, manhole covers, decorative cast iron pieces, cast iron pipe fitting and other units engaged in manufacturing of steel or cast iron products.
The other primary product of the company, i.e., Ductile Iron Pipe Fittings are used in public water supply systems as connectors of pipes.
The manufacturing unit of Earthstahl & Alloys Limited is located in the village of Duldula nearby Raipur, Chhattisgarh, and is spread across an area of around 4.73 hectares of land.
Alongside the efficient manufacturing and delivery of Cast iron Lumps and Ductile iron pipe fittings, the entity is also expanding its horizon by producing parts or components of plant and machinery with the help of foam molds. These products include Pellet plants, Cement plants, Sponge iron plants, Power plants, Automobile Sector, and Railway & Ductile Iron Pipes Fittings.
| Period Ended | 30 Sep 2022 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|
| Assets | 43.03 | 35.93 | 28.17 | 29.91 |
| Total Income | 48.25 | 49.08 | 24.58 | 31.82 |
| Profit After Tax | 5.80 | 7.45 | 2.67 | -0.33 |
| NET Worth | 16.38 | 10.57 | 3.12 | 0.44 |
| Reserves and Surplus | 17.93 | 12.13 | 4.68 | 2.00 |
| Total Borrowing | 10.93 | 14.00 | 13.97 | 17.34 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding capital expenditure towards change in electricity supply voltage from 33 KV to 132 KV at our manufacturing facility at Village Duldula, Baloda Bazar (C.G.) | 9.44 |
| 2 | To meet Working Capital requirements | 1.00 |
| 3 | General Corporate Purpose | 1.19 |
| KPI | |
|---|---|
| ROE | 65.38 |
| ROCE | 37.41 |
| Debt/Equity | 0.93 |
| RoNW | 70.53 |
| PAT Margin | 15.19% |
| EBITDA Margin | 27.43% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 8.28 | |
| P/E (x) | 4.22 | |
| Promoter Holding | 100.00% | 73.53% |
| Market Cap | ₹48.96 Cr. |
The Earthstahl & Alloys IPO is subscribed 235.18 times on January 31, 2023 6:58:00 PM (Day 3). The public issue subscribed 191.77 times in the retail category, 39.83 times in the QIB category, and 445.09 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 39.83 | 9,18,000 | 3,65,67,000 |
| NII* | 445.09 | 10,77,000 | 47,93,67,000 |
| Retail | 191.77 | 10,77,000 | 20,65,35,000 |
| Total | 235.18 | 30,72,000 | 72,24,69,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager Fees | 0.24 |
| 2 | Underwriting Commission | 0.13 |
| 3 | Brokerage and selling commission | 0.65 |
| 4 | Fees Payable to Registrar to the Issue | 0.01 |
| 5 | Fees Payable to Statutory Auditor, Fees to Legal Advisors and other consultants | 0.03 |
| 6 | Fees Payable to Advertising and Marketing Expenses | 0.04 |
| 7 | Listing fees, SEBI filing fees, upload fees, Exchange processing fees, book building software fees and other regulatory expenses | 0.05 |
| 8 | Payment for Printing & Stationery, Distribution, Postage, etc. | 0.01 |
| 9 | Others (Commission/processing fee for SCSBs, Sponsor Bank and Banker(s) to the Issue and brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs and Miscellaneous Expenses) | 0.18 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹40.00 |
| Open | ₹55.00 |
| Low | ₹52.50 |
| High | ₹57.75 |
| Last Trade | ₹57.75 |
Lead Manager Reports
Earthstahl IPO is a SME IPO of 32,40,000 equity shares of the face value of ₹10 aggregating up to ₹13 Crores. The issue is priced at ₹40 per share. The minimum order quantity is 3000.
The IPO opens on Fri, Jan 27, 2023, and closes on Tue, Jan 31, 2023.
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 Earthstahl IPO using UPI as a payment gateway. Zerodha customers can apply in Earthstahl IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Earthstahl IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Earthstahl IPO opens on Fri, Jan 27, 2023 and closes on Tue, Jan 31, 2023.
Earthstahl IPO lot size is 3000, and the minimum amount required for application is ₹1,20,000.
You can apply in Earthstahl 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 Earthstahl IPO will be done on Friday, February 3, 2023, and the allotted shares will be credited to your demat account by Tue, Feb 7, 2023. Check the Earthstahl IPO allotment status.
The Earthstahl IPO listing date is on Wed, Feb 8, 2023.
