New Malayalam Steel IPO subscribed overall 36.9 times on the last day, a retail quota was subscribed over 9.31 times, QIB was subscribed over 79.59 times, and NII was subscribed over 44.39 times respectively.
Details About New Malayalam Steel IPO
New Malayalam Steel got approval from SEBI for an IPO of₹50.00 crores to raise funds and maintain financial stability. This IPO was entirely a fresh issue of ₹41.76 crores with a face value of ₹10 each. Moreover, the company has set up a price band between ₹85 to ₹90 per share. In this IPO total of 1,600 shares were available in 1 lot size for the minimum Retail category and maximum as well. While S- HNI total of 3,200 shares in 2 lot sizes.
To invest in this IPO, each investor category has specific investment amounts:
- Retail Investors: Minimum and maximum investment of ₹1,44,000.
- SHNI (S-HNI): Minimum investment of ₹2,88,000.
New Malayalam Steel IPO’s Subscription duration
This IPO’s subscription started on December 19, 2024, and closed on December 23, 2024. The New Malayalam Steel IPO’s allotment date was December 24, 2024, and they received a refund on December 26, 2024.
Funds Deployment of This IPO
- IT/Technological Upgradation of Existing Manufacturing Facility
- Expansion of Existing Solar Facility for Power Generation
- Funding for Civil Construction of New Factory Shed and Storage Facility
- Advertising, Marketing, and Brand Building
- Funding Incremental Working Capital Requirements
- Issue Related Expenses
- General Corporate Purposes
About New Malayalam Steel Company
New Malayalam Steel is one of the top companies in the manufacture and supplier of steel tubes and pipes and it was incorporated in 2017. They are renowned for comprehensive steel products for various industries and contraction needs they are popular around the world. Moreover, they achieve customer satisfaction and build strong relationships with them by providing galvanized or black steel and having tubes and pipes in different sizes, wall thicknesses, and specifications. Additionally, comprehensive knowledge and market research of the steel industry help in establishing a strong brand reputation for “Demac Steel.” The company minimizes operational costs through streamlined manufacturing processes and effective supply chain management. In 2019, to meet the rising demand and strengthen its market position, the company expanded its manufacturing capacity by introducing a new electric resistance welding tube mill. The company promotes its products through different methods, such as Shop branding, Bus ads, Ads at metro stations, Billboard displays, and Newspaper ads.
New Malayalam Steel Company’s Financial Background
The company has a good revenue around of ₹303.15 crores in 2024 against ₹359.96 crore in 2023 and the PAT(Profit After Tax) ratio was ₹6.00 crores in 2023.
