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Surani Steel Tubes IPO is a book build issue of ₹12.92 crores. The issue is entirely a fresh issue of 0.25 crore shares of ₹12.92 crore.
Surani Steel Tubes IPO bidding started from Jan 25, 2019 and ended on Jan 29, 2019. The shares got listed on NSE SME on Feb 6, 2019.
Surani Steel Tubes IPO price band is set at ₹52.00 per share . The lot size for an application is 2,000. The minimum amount of investment required by an retail is ₹1,02,000 (2000 shares). The minimum lot size investment for HNI is 2 lots (4,000 shares), amounting to ₹2,08,000.
Pantomath Capital Advisors Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. The market maker of the company is Pantomath Stock Brokers Pvt.Ltd..
Refer to Surani Steel Tubes IPO RHP for detailed Information.
| IPO Date | January 25, 2019 to January 29, 2019 |
| Listing Date | February 6, 2019 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹51 to ₹52 per share |
| Issue Price Final | ₹52 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 24,84,000 shares (aggregating up to ₹12.92 Cr) |
| Reserved for Market Maker | 1,26,000 shares Pantomath Stock Brokers Pvt.Ltd. (aggregating up to ₹0.6552 Cr) |
| Net Offered to Public | 23,58,000 shares (aggregating up to ₹12.26 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 58,00,000 shares |
| Share Holding Post Issue | 82,84,000 shares |
Surani Steel IPO offers total 24,84,000 shares. Out of which 11,78,000 (47.42%) allocated to NII, 11,80,000 (47.50%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,26,000 (5.07%) |
| NII (HNI) Shares Offered | 11,78,000 (47.42%) |
| Retail Shares Offered | 11,80,000 (47.50%) |
| Total Shares Offered | 24,84,000 (100.00%) |
Surani Steel Tubes IPO opens on January 25, 2019, and closes on January 29, 2019.
| IPO Open Date | Fri, Jan 25, 2019 |
| IPO Close Date | Tue, Jan 29, 2019 |
| Tentative Listing Date | Wed, Feb 6, 2019 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Jan 29, 2019 |
Investors can bid for a minimum of 2,000 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 | 2,000 | ₹1,04,000 |
| Retail (Max) | 1 | 2,000 | ₹1,04,000 |
| HNI (Min) | 2 | 4,000 | ₹2,08,000 |
| Promoter Holding Pre Issue | 20,95,000 Shares (36.12)% |
| Promoter Holding Post Issue |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 2012, Gujarat based Surani Steel Tubes Limited is a company engaged in the business of manufacturing of Electric Resistance Welding Mild Steel ("ERW MS") Pipes. The company's products are used in many industries like Architectural, Infrastructural, Industrial and Engineering etc. Surani majorly relies on its dealer network to sell its products. As on March 31, 2018, it has arrangements/understanding with more than 300 dealers spread across Gujarat. Selling of scraps also contributes to its revenue.
Surani Steel is ISO 9001: 2015 certified for manufacturing and Supply of ERW pipes. The company's manufacturing plant is located at Dahegam, Gandhinagar in Gujarat. The plant has installed capacity of 25,000 MT p.a. Surani is setting up a new manufacturing facility at Dahegam, Gandhinagar to increase its product range.
The company has 52 employees on its payroll across various functions.
| Particulars | For the year/period ended (in Rs. Lakhs) | |||||
|---|---|---|---|---|---|---|
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | ||
| Total Assets | 3,528.36 | 2,836.35 | 2,298.30 | 1,594.83 | 1,541.34 | |
| Total Revenue | 10,079.72 | 7,670.08 | 6,845.89 | 5,814.16 | 3,599.92 | |
| Profit After Tax | 172.44 | 99.90 | 109.60 | 16.25 | (2.99) | |
The Company Surani Steel Tubes 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 | Funding working capital requirements of the Company | 9.20 |
| 2 | General Corporate Purpose | 3.06 |
[Dilip Davda] <p>Company has posted growth in top lines but bottom line has shown inconsistency. Considering exorbitant pricing of the issue, there is no harm in giving it a miss as better options are available in the secondary markets.</p> Read detail review...
| Listing Date | February 6, 2019 |
| BSE Script Code | |
| NSE Symbol | SURANI |
| ISIN | INE01ZJ01015 |
| Final Issue Price | ₹52 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹52.00 |
| Open | ₹53.10 |
| Low | ₹50.45 |
| High | ₹53.25 |
| Last Trade | ₹53.25 |
Surani Steel Tubes Ltd.
S. No. 110, 115, Opp. Vinayak TMT
Bayad Road, Sampa
Tal. Dahegam
Gandhinagar, Gujarat, 382315
Phone: +91 9825515372
Email: cs@suranisteel.com
Website: http://www.suranisteel.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: suranisteel.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Surani Steel Tubes IPO is a SME IPO of 24,84,000 equity shares of the face value of ₹10 aggregating up to ₹12.92 Crores. The issue is priced at ₹52 per share. The minimum order quantity is 2000.
The IPO opens on January 25, 2019, and closes on January 29, 2019.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Surani Steel Tubes IPO using UPI as a payment gateway. Zerodha customers can apply in Surani Steel Tubes IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Surani Steel Tubes IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Surani Steel Tubes IPO opens on January 25, 2019 and closes on January 29, 2019.
Surani Steel Tubes IPO lot size is 2000, and the minimum amount required for application is ₹1,04,000.
You can apply in Surani Steel Tubes 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 Surani Steel Tubes IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Surani Steel Tubes IPO allotment status.
The Surani Steel Tubes IPO listing date is on Wednesday, February 6, 2019.
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