New Malayalam Steel subscription started on Thursday, December 19, 2024, and will close on December 23, 2024, as per the schedule. The price band is set at ₹85 to ₹90 per share with a face value of ₹10.
New Malayalam Steel IPO Subscription Status
New Malayalam Steel IPO Subscribed over 2.36 on its first day till 5.00 PM on 19th December.
- New Malayalam Steel IPO subscription QIB investors portion is 1.06 times, while NII subscribed 0.44 times and RII investors subscribed 4.56 times.
- The company has received bids for 1,03,98,400 shares against 44,06,400 shares on offer on the first day of subscription.
- New Malayalam Steel IPO Subscribed over 2.36x on its first day.
About New Malayalam Steel Company
New Malayalam Steel is one of the leading companies in the manufacture and supplier of steel tubes and pipes, founded in 2017. Owing to a wide range of steel products for different 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. Further, in-depth knowledge and market research of the steel industry assists them in building a brand reputation for “Demac Steel”. They reduce operational costs by efficient manufacturing processes and supply chain management. In 2019, to keep up with increasing demand and enhance its position in the market, the company boosted its manufacturing capacity by adding 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 Financial Report
The company reported revenue of ₹303.15 crores in 2024 against ₹359.96 crores in 2023. The company reported a Profit of ₹4.27 crores in 2024 against Profit of ₹6.00 crores in 2023.
New Malayalam Steel IPO GMP:
New Malayalam Steel IPO GMP was ₹0 as of Thursday, December 19th. That indicates the IPO is trading at ₹90 with ₹0 premium in the grey market against the issue price of ₹90.
