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Narayani Steels IPO is a fixed price issue of ₹11.52 crores. The issue is entirely a fresh issue of 0.36 crore shares of ₹11.52 crore.
Narayani Steels IPO bidding started from Sep 1, 2016 and ended on Sep 6, 2016. The shares got listed on BSE SME on Sep 14, 2016.
Narayani Steels IPO price is ₹32.00 per share . The lot size for an application is 4,000. The minimum amount of investment required by an individual investor (retail) is ₹1,28,000 (4000 shares). The minimum lot size investment for HNI is 2 lots (8,000 shares), amounting to ₹2,56,000.
Pantomath Capital Advisors Pvt.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 Rikhav Securities Ltd..
Refer to Narayani Steels IPO RHP for detailed Information.
| IPO Date | September 1, 2016 to September 6, 2016 |
| Listing Date | September 14, 2016 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹32 per share |
| Lot Size | 4,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 36,00,000 shares (aggregating up to ₹11.52 Cr) |
| Reserved for Market Maker | 1,88,000 shares Rikhav Securities Ltd. (aggregating up to ₹0.6016 Cr) |
| Net Offered to Public | 34,12,000 shares (aggregating up to ₹10.92 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 73,09,000 shares |
| Share Holding Post Issue | 1,09,09,000 shares |
Narayani Steels IPO offers total 36,00,000 shares. Out of which 17,04,000 (47.33%) allocated to NII, 17,08,000 (47.44%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,88,000 (5.22%) |
| NII (HNI) Shares Offered | 17,04,000 (47.33%) |
| Retail Shares Offered | 17,08,000 (47.44%) |
| Total Shares Offered | 36,00,000 (100.00%) |
Narayani Steels IPO opens on September 1, 2016, and closes on September 6, 2016.
| IPO Open Date | Thu, Sep 1, 2016 |
| IPO Close Date | Tue, Sep 6, 2016 |
| Tentative Listing Date | Wed, Sep 14, 2016 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Sep 6, 2016 |
Investors can bid for a minimum of 4,000 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 | 4,000 | ₹1,28,000 |
| Retail (Max) | 1 | 4,000 | ₹1,28,000 |
| HNI (Min) | 2 | 8,000 | ₹2,56,000 |
Incorporated in 1995, Narayani Steels Limited is one of india's leading ISO certified company in the metal sector. Company manufactures and trades iron and steel products in India. Information in this paragraph is taken from chittorgarh.com, India's No. 1 IPO Investment Portal. Product range includes TMT ReBars, Mild Steel Rounds, Mild Steel Square, Mild Steel Flat Bars, and Mild Steel Angles.
Company's products are primarily used in infrastructure, construction, automobile, etc. industries. The company sells its products through a network of various dealers/retailers/distributors. Their client list includes TRF, NTPC, VIZAC steel and Vizac profiles group.
The Company Narayani Steels 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 | Working Capital Requirement | 8.92 |
| 2 | General corporate purposes | 2.00 |
[Dilip Davda] Pricing of the issue is on the higher side with nothing on tables for new investors. However, cash surplus risk savvy investors may consider it for long term investment; other may give it a miss. Read detail review...
| Listing Date | September 14, 2016 |
| BSE Script Code | 540080 |
| NSE Symbol | |
| ISIN | INE715T01015 |
| Final Issue Price | ₹32 per share |
| BSE Listing Group | M |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹32.00 |
| Open | ₹33.45 |
| Low | ₹30.90 |
| High | ₹38.40 |
| Last Trade | ₹33.40 |
Narayani Steels Ltd.
23A N S Road,
7th Floor,
Room 31,
Kolkata, West Bengal, 700001
Phone: 08912501182
Email: info@narayanitmt.com
Website: http://www.narayanitmt.com
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Narayani Steels IPO is a SME IPO of 36,00,000 equity shares of the face value of ₹10 aggregating up to ₹11.52 Crores. The issue is priced at ₹32 per share. The minimum order quantity is 4000.
The IPO opens on September 1, 2016, and closes on September 6, 2016.
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 Narayani Steels IPO using UPI as a payment gateway. Zerodha customers can apply in Narayani Steels IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Narayani Steels IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Narayani Steels IPO opens on September 1, 2016 and closes on September 6, 2016.
Narayani Steels IPO lot size is 4000, and the minimum amount required for application is ₹1,28,000.
You can apply in Narayani 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 Narayani Steels IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Narayani Steels IPO allotment status.
The Narayani Steels IPO listing date is on Wednesday, September 14, 2016.
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