Bookbuilding IPO | ₹[.] Cr | Listing at NSE SME |
Purohit Steel India Ltd. has withdrawn its Initial Public Offer (IPO) documents filed with the exchange on May 8, 2025.
Purohit Steel India Ltd. IPO was a Book Build Issue
The equity shares were proposed to be listed on the NSE SME. Seren Capital Pvt.Ltd. was the book running lead manager and Bigshare Services Pvt.Ltd. was the registrar of the issue.
| IPO Date | [.] |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | |
| Lot Size | |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Description | Date |
|---|---|
| Filed with SEBI/Exchange | Fri, Oct 4, 2024 |
| Offer document withdrawn | |
| Offer document withdrawn | Thu, May 8, 2025 |
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII Shares Offered | Not less than 15% of the Net Issue |
Incorporated in 2013, Purohit Steel India Limited processes special-grade alloy steel, including plastic mould, hot work, cold work, EN Series, and high-speed steels for various industrial applications, serving major users in automotive, aerospace, electronics, telecom, refractories, plastics, packaging, mining equipment, and machine manufacturing.
The company's speciality steel products are crucial for manufacturing moulds, dies, and various components for the automotive, appliance, electronics, sheet metal, plastic, pipe fitting, packaging, toy, and luggage industries.
They are also used in machine components, die casting, and heavy engineering components.
The company has two manufacturing units situated in Vasai, Thane, Maharashtra.
As of August 31, 2024, the company has an annual capacity of 5,500 MT for steel cutting, 3,000 MT for machining, and 1,150 MT for grinding across Units I and II.
The company has in-house testing facilities, including ultrasonic, hardness, and magnetism checks, to ensure optimum product quality.
In Fiscal 2024, the company sold products in 14 states and 2 union territories in India, including Maharashtra, Gujarat, Dadra and Nagar Haveli, Daman and Diu, Karnataka, Telangana, Haryana, and Delhi.
As of August 31, 2024, the sales and marketing team had 12 employees managing regions in India.
As of August 31, 2024, the company had a total of 85 permanent employees across its operations.
Competitive Strength:
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 102.89 | 95.11 | 78.96 | 63.58 |
| Total Income | 31.75 | 101.83 | 92.57 | 62.77 |
| Profit After Tax | 2.69 | 9.67 | 9.21 | 4.15 |
| NET Worth | 49.33 | 46.64 | 36.96 | 27.75 |
| Reserves and Surplus | 46.93 | 44.24 | 34.56 | 25.35 |
| Total Borrowing | 22.46 | 22.10 | 20.15 | 23.90 |
| 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 of capital expenditure towards setup of new processing facility | 22.91 |
| 2 | Funding working capital requirements of the Company | 6.00 |
| 3 | General Corporate Purpose |
| KPI | Mar 31, 2024 |
|---|---|
| ROE | 23.14% |
| ROCE | 21.52% |
| Debt/Equity | 0.47 |
| RoNW | 20.74% |
| PAT Margin | 9.55% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 100% |
Lead Manager Reports
Purohit Steel IPO is a SME IPO of 0 equity shares of the face value of ₹10 aggregating up to ₹[.] Crores. The issue is priced at To be declared. The minimum order quantity is .
The Purohit Steel IPO open and close dates are not available as of now.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Purohit Steel IPO using UPI as a payment gateway. Zerodha customers can apply in Purohit Steel IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Purohit Steel IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Purohit Steel IPO dates are not announced. Please check back again after some time.
Purohit Steel IPO lot size and the minimum order quantity is not available at this time. Please check again later.
You can apply in Purohit Steel 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 Purohit Steel IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Purohit Steel IPO allotment status.
The Purohit Steel IPO listing date is not yet announced. The tentative date of listing is .
