Fixed Price IPO | ₹27 Cr | Listed at NSE SME | Mon, Feb 6, 2017 - Thu, Feb 9, 2017
Steel City Securities IPO is a fixed price issue of ₹26.99 crores. The issue is a combination of fresh issue of 0.27 crore shares aggregating to ₹14.99 crores and offer for sale of 0.22 crore shares aggregating to ₹12.00 crores.
Steel City Securities IPO bidding started from Feb 6, 2017 and ended on Feb 9, 2017. The shares got listed on NSE SME on Feb 17, 2017.
Steel City Securities IPO price is ₹55 per share. The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹1,10,000 (2000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (4,000 shares), amounting to ₹2,20,000.
Keynote 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 Keynote Capitals Ltd..
Refer to Steel City Securities IPO RHP for detailed Information.
IPO Open
Mon, Feb 6, 2017
IPO Close
Thu, Feb 9, 2017
Issue Price
₹55 per share
Market Cap (Pre-IPO)
₹83.09 Cr
| IPO Date | 6 to 9 Feb, 2017 |
| Listed on | Fri, Feb 17, 2017 |
| Face Value | ₹10 per share |
| Issue Price | ₹55 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 49,08,000 shares (agg. up to ₹27 Cr) |
| Reserved for Market Maker | 2,46,000 shares Keynote Capitals Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 24,80,183 shares (agg. up to ₹14 Cr) |
| Offer for Sale | 21,81,817 shares of ₹10 (agg. up to ₹12 Cr) |
| Net Offered to Public | 46,62,000 shares (agg. up to ₹26 Cr) |
| Share Holding Pre Issue | 1,23,80,912 shares |
| Share Holding Post Issue | 1,51,07,095 shares |
| NSE Symbol | STEELCITY |
| ISIN | INE395H01011 |
Steel City Securities IPO comprises a total issue size of 49,08,000 shares. The net offer to the public is 46,62,000 shares, after excluding 2,46,000 shares allotted on a firm basis. Of the Net offer 23,31,000 (50.00%) allocated to NII 23,31,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 23,31,000 | 50.00% | 47.49% |
| Retail Shares Offered | 23,31,000 | 50.00% | 47.49% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,46,000 | 5.01% | |
| Total Shares Offered | 49,08,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 2,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,10,000 |
| Retail (Max) | 1 | 2,000 | ₹1,10,000 |
| HNI (Min) | 2 | 4,000 | ₹2,20,000 |
Incorporated in 1994, Steel City Securities Limited is a stock broking and e-governance service company. Steel City is based out of Visakhapatnam, AP.
Steel City offers wide range of financial products in 30 states if India. the offering includes Capital Market services, E-Governance services, Investment advisory in the form of distribution of Mutual Funds, Bonds, IPOs & Corporate Fixed Deposits, Currency Trading, Commodity Broking, Insurance Distribution & NBFC services.
Key offerings:
1. Steel City is the member of NSE, BSE, MCX, NCDEX & MSE for stock, derivatives, commodity and currency segment.
2. Steel City is a Depository Participant of NSDL & CDSL.
3. Steel City offers online E-Broking portal which provides online trading platform to the clients supported by investment advice and equity research.
4. Steel City through its Subsidiary viz; Steel City Commodities Private Limited, provides commodities trading to its clients through its trading platform on NCDEX & MCX.
5. Steel City Commodities Private Limited also provides distribution of life &non life insurance products of all the leading insurance Companies.
6. It holds approval from IRDA to conduct the said insurance business.
7. It is an authorized distributor of insurance policies of SBI Life, Religare Health and United India Insurance Company Limited.
8. Steel City through one of its Group Company viz; Steel City Financial Services Private Ltd systematically important non deposit accepting Non Banking Finance Company) provide NBFC services to its clients.
9. Company offers verity of E-Governance services
Facts about Steel City Securities as of FY 2015-16:
1. Company has 88,912 clients registered for stock trading.
2. Company has 4,260 clients for currency trading.
3. Company has 11,617 clients for commodity trading.
4. Total Demat accounts: 1,31,446.
5. Total brokerage earning: Rs 20.62 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 technology upgradation & office infrastructure for expansion of e business | 3.90 |
| 2 | Setting up of AADHAAR Enrolment centre at all the existing branches | 2.64 |
| 3 | Enhancement of the Company’s brand through advertising and other brand-building activities | 2.50 |
| 4 | Working Capital Requirements | 2.00 |
| 5 | Offer Expenses | 2.20 |
| 6 | General Corporate Purpose | 1.75 |
Sorry, we couldn't find the subscription details. Note that the bidding starts at 10 AM and ends at 5 PM on the days when the public issue is open.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees to intermediaries (including Lead Managers fees, underwriting commission, market making fees, brokerage and selling commission*, registrar fees and expenses) | 1.92 |
| 2 | Advertising and marketing expenses | 0.10 |
| 3 | Printing and Stationary & Distribution | 0.08 |
| 4 | Statutory and other miscellaneous expenses | 0.10 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹55.00 |
| Open | ₹55.00 |
| Low | ₹49.40 |
| High | ₹56.00 |
| Last Trade | ₹50.10 |
Lead Manager Reports
Steel City Securities IPO is a SME IPO of 49,08,000 equity shares of the face value of ₹10 aggregating up to ₹27 Crores. The issue is priced at ₹55 per share. The minimum order quantity is 2000.
The IPO opens on Mon, Feb 6, 2017, and closes on Thu, Feb 9, 2017.
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 Steel City Securities IPO using UPI as a payment gateway. Zerodha customers can apply in Steel City Securities IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Steel City Securities IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Steel City Securities IPO opens on Mon, Feb 6, 2017 and closes on Thu, Feb 9, 2017.
Steel City Securities IPO lot size is 2000, and the minimum amount required for application is ₹1,10,000.
You can apply in Steel City Securities 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 Steel City Securities IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Steel City Securities IPO allotment status.
The Steel City Securities IPO listing date is on Fri, Feb 17, 2017.
