Steelman Telecom was incorporated in 2013. The company offers support services and solutions to address the network requirements of the Telecom industry. The company also provides services for Network Survey and Planning, Installation and Commissioning, Network Testing and Optimization, Network Solutions, and Managed Services for network maintenance.
| Bidding Dates |
|---|
| 26 Sep 2022 - 29 Sep 2022 |
| Subscription |
|---|
| 22.38x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,15,200 | 1 | 1 | 1200 | 2.7 M | ₹96 | 71.98 % | ₹260.2 M | RHP DOC |
Steelman Telecom IPO SUBSCRIPTION STATUS
29 Sep '22Steelman Telecom IPO overall subscription rate was 22.38 times the total available shares
Steelman Telecom IPO retail subscription rate was 22.77 times in the retail segment
Steelman Telecom IPO non-institutional investor subscription rate was 70.09 times in the non-institutional investor category
Steelman Telecom IPO Qualified Institutional Bidder subscription rate was 7.78 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
29 Sep 2022 (Day 4) | 22.77x | 70.09x | 7.78x |
28 Sep 2022 (Day 3) | 5.77x | 1.59x | 2.75x |
27 Sep 2022 (Day 2) | 2.33x | 0.26x | 0.75x |
26 Sep 2022 (Day 1) | 0.49x | 0.04x | 0x |
Steelman Telecom FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) |
| FY22 | 39.7 | 1,004.7 | -20.6 | -24.6 |
| FY21 | 13.8 | 887.2 | 29.3 | 20.5 |
| FY20 | -2.2 | 867.0 | -26.0 | -33.1 |
Steelman Telecom IPO SUBSCRIPTION STATUS DETAILS
Steelman Telecom had 2.7 M shares on offer
Steelman Telecom IPO offer price was ₹96
Steelman Telecom IPO minimum Investment was ₹115200
Steelman Telecom IPO issue size was ₹ 260.2 M
Steelman Telecom had a minimum lot size of 1200 Shares per application
Steelman Telecom NUMBER OF SHARES ON OFFER
Steelman Telecom IPO IMPORTANT DATES
| Issue Open Date | 26 Sep 2022 |
| Issue close Date | 29 Sep 2022 |
| Allotment Date | 04 Oct 2022 |
| Refund Date | 06 Oct 2022 |
| Demat Account Credit Date | 07 Oct 2022 |
| Listing Date | 10 Oct 2022 |
| Listing on Exchange(s) | BSE |
| Steelman Telecom Allotment Status | Exchange |
Steelman Telecom IPO subscription opened on 26 Sep 2022, and closed on 29 Sep 2022
IPO allotment for Steelman Telecom was finalized on Tuesday, 04 Oct 2022
IPO listing for Steelman Telecom was on BSE on Monday, 10 Oct 2022
Steelman Telecom IPO LISTING GAINS
| Issue Price (adjusted) | 96.0 |
| Listing Open Price | 161.0 |
| Listing Close Price | 169.1 |
| Listing Gain% | 67.7% |
| Current Gain% | -29.2% |
Steelman Telecom Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Steelman Telecom Ltd. | 68 | 65.8 | -10.5 | 0 | 0.3 | -21.8 | -4.6 | 231.6 | -0.5 | -6.3 | -339.6 | -6.5 | 339.6 |
| Bharti Airtel Ltd. | 1904.3 | 1160396.6 | 40.1 | -2.2 | 5.3 | 16.3 | 4.8 | 213790.1 | 22.5 | 26695.2 | -20.4 | 47.5 | -18.2 |
| Vodafone Idea Ltd. | 13.2 | 143554.5 | 3.8 | 0 | 3.2 | -96.6 | 18 | 45414 | 1.8 | 34552 | 226.2 | 3.5 | 235.7 |
| RailTel Corporation of India Ltd. | 285.8 | 9172.4 | 26.5 | 2.9 | 2.1 | 15.3 | 5.9 | 4327.6 | 21.9 | 346.3 | 15.5 | 10.8 | 9.1 |
| Tata Teleservices (Maharashtra) Ltd. | 38.3 | 7495.2 | 199.7 | 1.9 | 6.4 | 0 | -16 | 1174.9 | -10.9 | -215.3 | 83.1 | 0.2 | 102.9 |
| Mahanagar Telephone Nigam Ltd. | 27 | 1703.5 | -0.5 | -0.1 | 2.1 | 0 | -30.8 | 1541.1 | 11.8 | -3107.2 | 6.6 | -49.3 | 6.6 |
Steelman Telecom INFORMATION ON IPO ISSUE
About Steelman Telecom
Steelman Telecom was incorporated in 2013. The company offers support services and solutions to address the network requirements of the Telecom industry. The company also provides services for Network Survey and Planning, Installation and Commissioning, Network Testing and Optimization, Network Solutions, and Managed Services for network maintenance.
Object of the Issue
- Investment in subsidiary
- Working capital requirements.
- General corporate purposes
Steelman Telecom - PROMOTERS
| Name |
|---|
| Mayank Bindal |
Steelman Telecom Lead Manager of the Issue
Gretex Corporate Services Limited
info@gretexgroup.com
Steelman Telecom Registrar to the Issue
Bigshare Services Private Limited
ipo@bigshareonline.comWebsite
Steelman Telecom Strengths
Experienced management and skilled team
The company has a strong and experienced management and a workforce of skilled, trained, well-equipped and expert employees that have led the organization on the path to success.
Established relationship with existing customers
The company has developed strong and sustaining relationships with its clients and has an experience of more than three decades. It has a track record of delivering timely services to customers and demonstrated industry expertise consistently has helped to nurture long-term relationships with them.
Steelman Telecom Risks
Outstanding legal proceedings
There are outstanding legal proceedings involving the company, subsidiary, group entity, promoter and director.
Substantially dependent on key customers
Business is substantially dependent on key customers from whom the company derives a significant portion of its revenues and any loss of such clients may have a material and adverse effect on business and operations.
IPO FAQs
This IPO consists of an offer for sale of up to Rs 7.8 crore, of 813,600 shares. It also consists of a fresh issue of Rs 18.2 crore.
The promoter of the company is Mayank Bindal.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 96.0 - 96.0.
The IPO application opens on Sep 26, 2022 and closes on Sep 29, 2022.
The minimum lot size for the IPO is 1200. The maximum lot size for the IPO is 1200.
For all category investors, the minimum application amount for this IPO is Rs. 115,200.0, the maximum value for this IPO is Rs 115,200.0.
This IPO will be allotted on Oct 04, 2022.
The refund will be credited to your account on Oct 06, 2022.
The allotted shares will be credited to your demat on Oct 07, 2022.
Steelman Telecom Ltd.’s shares listed on the stock exchanges on Oct 10, 2022.