Bookbuilding IPO | ₹13 Cr | Listed at NSE SME | Fri, Jan 25, 2019 - Tue, Jan 29, 2019
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 per share. The lot size for an application is 2,000. The minimum amount of investment required by an retail is ₹1,04,000 (2000 shares) (based on upper price). The minimum lot size for investment in 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 Open
Fri, Jan 25, 2019
IPO Close
Tue, Jan 29, 2019
Issue Price
₹52 per share
Market Cap (Pre-IPO)
₹43.08 Cr
| IPO Date | 25 to 29 Jan, 2019 |
| Listed on | Wed, Feb 6, 2019 |
| Face Value | ₹10 per share |
| Price Band | ₹51 to ₹52 |
| Issue Price | ₹52 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 24,84,000 shares (agg. up to ₹13 Cr) |
| Reserved for Market Maker | 1,26,000 shares Pantomath Stock Brokers Pvt.Ltd. (agg. up to ₹0.6552 Cr) |
| Fresh Issue (Ex Market Maker) | 23,58,000 shares (agg. up to ₹12 Cr) |
| Net Offered to Public | 23,58,000 shares (agg. up to ₹12 Cr) |
| Share Holding Pre Issue | 58,00,000 shares |
| Share Holding Post Issue | 82,84,000 shares |
| NSE Symbol | SURANI |
| ISIN | INE01ZJ01015 |
Surani Steel Tubes IPO comprises a total issue size of 24,84,000 shares. The net offer to the public is 23,58,000 shares, after excluding 1,26,000 shares allotted on a firm basis. Of the Net offer 11,78,000 (49.96%) allocated to NII 11,80,000 (50.04%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 11,78,000 | 49.96% | 47.42% |
| Retail Shares Offered | 11,80,000 | 50.04% | 47.50% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,26,000 | 5.07% | |
| Total Shares Offered | 24,84,000 | 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 | ₹1,04,000 |
| Retail (Max) | 1 | 2,000 | ₹1,04,000 |
| HNI (Min) | 2 | 4,000 | ₹2,08,000 |
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.
| 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 | Funding working capital requirements of the Company | 9.20 |
| 2 | General Corporate Purpose | 3.06 |
The Surani Steel IPO is subscribed 1.55 times on January 29, 2019 6:00:00 PM (Day 3). The public issue subscribed 1.23 times in the retail category, [.] times in the QIB category, and 1.7 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 1.7 | 12,42,000 | 21,16,000 |
| Retail | 1.23 | 12,42,000 | 15,28,000 |
| Total | 1.55 | 23,58,000 | 36,44,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to Merchant Banker including expenses towards printing, advertising, and payment to other intermediaries such as Registrars, Bankers etc. | 0.34 |
| 2 | Regulatory fees | 0.07 |
| 3 | Marketing and Other Expenses | 0.25 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹52.00 |
| Open | ₹53.10 |
| Low | ₹50.45 |
| High | ₹53.25 |
| Last Trade | ₹53.25 |
Lead Manager Reports
Surani Steel Tubes IPO is a SME IPO of 24,84,000 equity shares of the face value of ₹10 aggregating up to ₹13 Crores. The issue is priced at ₹52 per share. The minimum order quantity is 2000.
The IPO opens on Fri, Jan 25, 2019, and closes on Tue, Jan 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 Fri, Jan 25, 2019 and closes on Tue, Jan 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 Wed, Feb 6, 2019.
