Bookbuilding IPO | ₹285 Cr | Listed at BSE, NSE | Tue, Sep 21, 2010 - Fri, Sep 24, 2010
Electrosteel Steels IPO is a book build issue of ₹285.28 crores. The issue is entirely a fresh issue of 25.93 crore shares of ₹285.28 crore.
Electrosteel Steels IPO bidding started from Sep 21, 2010 and ended on Sep 24, 2010. The shares got listed on BSE, NSE on Oct 8, 2010.
Electrosteel Steels IPO price band is set at ₹11 per share. The lot size for an application is 600. The minimum amount of investment required by an retail is ₹6,600 (600 shares) (based on upper price). The lot size investment for sNII is 31 lots (18,600 shares), amounting to ₹2,04,600, and for bNII, it is 152 lots (91,200 shares), amounting to ₹10,03,200.
Edelweiss Financial Services Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Electrosteel Steels IPO RHP for detailed Information.
IPO Open
Tue, Sep 21, 2010
IPO Close
Fri, Sep 24, 2010
Issue Price
₹11 per share
Market Cap (Pre-IPO)
₹2,275.20 Cr
| IPO Date | 21 to 24 Sep, 2010 |
| Listed on | Fri, Oct 8, 2010 |
| Face Value | ₹10 per share |
| Price Band | ₹10 to ₹11 |
| Issue Price | ₹11 per share |
| Lot Size | 600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 25,93,43,616 shares (agg. up to ₹285 Cr) |
| Fresh Issue | 25,93,43,616 shares (agg. up to ₹285 Cr) |
| Share Holding Pre Issue | 1,80,90,18,835 shares |
| Share Holding Post Issue | 2,06,83,62,451 shares |
| BSE Script Code / NSE Symbol | 533264 / ESL |
| ISIN | INE481K01013 |
Electrosteel Steels IPO comprises a total issue size of 25,93,43,616 shares. Out of which, 15,56,06,170 (60.00%) are allocated to QIB, 2,59,34,362 (10.00%) allocated to NII 7,78,03,084 (30.00%) allocated to RII.
| Investor Category | Shares Offered | % of Total Issue | Max Allottees |
|---|---|---|---|
| QIB Shares Offered | 15,56,06,170 | 60.00% | NA |
| NII (HNI) Shares Offered | 2,59,34,362 | 10.00% | NA |
| Retail Shares Offered | 7,78,03,084 | 30.00% | 1,29,671 |
| Total Shares Offered | 25,93,43,616 | 100.00% |
Investors can bid for a minimum of 600 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 600 | ₹6,600 |
| Retail (Max) | 30 | 18,000 | ₹1,98,000 |
| S-HNI (Min) | 31 | 18,600 | ₹2,04,600 |
| S-HNI (Max) | 151 | 90,600 | ₹9,96,600 |
| B-HNI (Min) | 152 | 91,200 | ₹10,03,200 |
Incorporated in 2006, Electrosteel Integrated Ltd, promoted by Electrosteel Castings Ltd (ECL) is to setup a 2.2 MTPA Integrated Steel and Ductile Iron Spun Pipes project in Jharkhand, India. ECL has obtained mining blocks of iron ore and coking coal in the state of Jharkhand and has set up EIL for implementing the integrated steel and DI pipe plant.
ECL is in the business of manufacturing Cast Iron pipes for over four decades and Ductile Iron Spun Pipes. EIL are setting up the proposed plant near Siyaljori village in Bokaro District of Jharkhand. The proposed plant will be based on Blast Furnace (BF) - Basic Oxygen Furnace (BOF) - Billet Caster and Hot Rolling Route and will produce 1.2 MTPA of long steel products, comprising 0.5 MTPA of 5.5-12.0 mm diameter wire rods in coil form and 0.7 MTPA of reinforcement bars in straight lengths and bundled in the range of 8-32 mm and plain rounds upto 60mm diameter. The plant will have a 0.33 MTPA DI pipe production facility in the same complex and will be provided with hot metal from the Blast Furnaces. The plant will also have production facilities for 0.27 MTPA of Commercial Billets and 0.40 MTPA of Pig Iron.
Company has acquired approximately 1,723.44 acres of land for the proposed plant, taking into account the scope for future expansion. The area of land for the proposed plant is approximately 600 acres with another 20-300 acres of land that would be required for construction of storage space for materials.
| 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 | To part finance the construction of Integrated Steel and D.I. pipe plant having a capacity of 2.2 MTPA in Jharkhand, India | 249.24 |
| 2 | Margin money towards Bank Guarantees | 22.00 |
| 3 | General Corporate Purposes | 145.49 |
The Electrosteel IPO is subscribed 8.23 times on September 24, 2010 5:00:00 PM (Day 4). The public issue subscribed 6.19 times in the retail category, 5.86 times in the QIB category, and 28.58 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 5.86 | 13,53,09,713 | |
| NII | 28.58 | 2,25,51,619 | |
| Retail | 6.19 | 6,76,54,856 | |
| Total | 8.23 | 22,55,16,188 |
CARE has assigned an IPO Grade 3 to Electrosteel Integrated Ltd IPO. This means as per CARE company has 'Average Fundamentals'. CARE assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. Click here to download the CARE IPO Grading Document for Electrosteel Integrated Ltd.
Electrosteel Integrated Ltd IPO, Electrosteel Integrated IPO, Electrosteel Integrated IPO Bidding, Electrosteel Integrated IPO Allotment Status, Electrosteel Integrated drhp and Electrosteel Integrated Ltd IPO listing.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead Merchant Bankers | 12.05 |
| 2 | Registrars to the issue | 0.20 |
| 3 | Advisor to the Issue | |
| 4 | Bankers to issues | |
| 5 | Underwriting commission, brokerage and selling commission | 1.11 |
| 6 | Printing and Stationery | 2.32 |
| 7 | Advertising and marketing expenses | 5.00 |
| 8 | Fee for IPO grading | 0.08 |
| 9 | Others (Listing fee, Legal counsel fees) | 1.79 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹11.00 | ₹11.00 |
| Open | ₹12.35 | ₹11.15 |
| Low | ₹9.35 | ₹9.35 |
| High | ₹12.35 | ₹11.85 |
| Last Trade | ₹11.25 | ₹11.25 |
Electrosteel Steels IPO is a main-board IPO of 25,93,43,616 equity shares of the face value of ₹10 aggregating up to ₹285 Crores. The issue is priced at ₹11 per share. The minimum order quantity is 600.
The IPO opens on Tue, Sep 21, 2010, and closes on Fri, Sep 24, 2010.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Electrosteel Steels IPO using UPI as a payment gateway. Zerodha customers can apply in Electrosteel Steels IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Electrosteel Steels IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Electrosteel Steels IPO opens on Tue, Sep 21, 2010 and closes on Fri, Sep 24, 2010.
Electrosteel Steels IPO lot size is 600, and the minimum amount required for application is ₹6,600.
You can apply in Electrosteel Steels 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 Electrosteel Steels IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Electrosteel Steels IPO allotment status.
The Electrosteel Steels IPO listing date is on Fri, Oct 8, 2010.
