The Newmalayalam Steel SME IPO, valued at ₹41.76 crore, has opened for subscription from December 19, 2024, to December 23, 2024. This IPO comprises a fresh issue of shares, with a price band of ₹85 to ₹90 per share, and is set to list on the NSE SME platform.
IPO Details
- Issue Type: Book Built Issue
- Issue Size: ₹41.76 crore (fresh issue)
- Face Value: ₹10 per share
- Price Band: ₹85 – ₹90 per share
- Market Lot: 1,600 shares
- Minimum Investment: ₹1,44,000
- Promoter Holding Pre-IPO: 99.80%
- Promoter Holding Post-IPO: 73.02%
Important Dates
| Activity | Date |
|---|---|
| Basis of Allotment | December 24, 2024 |
| Refund Initiation | December 26, 2024 |
| Shares Credit to Demat | December 26, 2024 |
| Listing Date | December 27, 2024 |
IPO GMP and Listing Expectations
The Grey Market Premium (GMP) for Newmalayalam Steel IPO is ₹30 as of December 19, 2024, indicating an expected listing price of ₹120. This represents a 33.33% gain over the upper price band of ₹90.
- Retail Subject to Sauda: ₹36,500
- Highest GMP: ₹30
- Lowest GMP: ₹0
Lot Size and Investment Details
| Investor Category | Lots | Shares | Investment Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,600 | ₹1,44,000 |
| S-HNI (Min) | 2 | 3,200 | ₹2,88,000 |
| B-HNI (Min) | 68 | 1,428 | ₹10,01,028 |
About Newmalayalam Steel
Founded in 2017, Newmalayalam Steel specializes in manufacturing galvanized steel pipes, GP tubes, and MS tubes and pipes, primarily used in roofing and construction. The company operates from its Thrissur, Kerala facility, with an installed capacity of 4,000 MT. A key highlight of its operations is the reliance on a solar plant with a capacity of 489.77 kWp, demonstrating its commitment to sustainability.
The company has a strong dealer network across Kerala, catering to contractors and retailers, and aims to leverage the IPO funds to enhance its operations and market reach.
Disclaimer
The GMP figures are indicative of grey market activities and should not be construed as an official valuation metric. We do not engage in grey market trading or recommend it. Always perform due diligence before investing.
