Chaman Metallics, incorporated on November 10, 2003, is primarily engaged in the business of manufacturing and selling direct reduced iron (i.e. sponge iron). Sponge iron is mainly used for making steel in electric arc furnaces and induction furnaces.
| Bidding Dates |
|---|
| 04 Jan 2023 - 06 Jan 2023 |
| Subscription |
|---|
| 207.86x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,14,000 | 1 | 1 | 3000 | 6.4 M | ₹38 | 73.6 % | ₹242.1 M | RHP DOC |
Chaman Metallics IPO SUBSCRIPTION STATUS
06 Jan '23Chaman Metallics IPO overall subscription rate was 207.86 times the total available shares
Chaman Metallics IPO retail subscription rate was 159.79 times in the retail segment
Chaman Metallics IPO non-institutional investor subscription rate was 255.92 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
06 Jan 2023 (Day 3) | 159.79x | 255.92x | - |
05 Jan 2023 (Day 2) | 28.46x | 11.16x | - |
04 Jan 2023 (Day 1) | 7.78x | 1.87x | - |
Chaman Metallics 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) |
| H1FY23 | 68.2 | 1,114.6 | 133.2 | 120.5 |
| FY22 | 93.5 | 1,848.7 | -59.2 | -84.7 |
| FY21 | 52.3 | 1,405.6 | 80.8 | 70.7 |
| FY20 | 36.9 | 580.1 | -64.5 | -112.3 |
Chaman Metallics IPO SUBSCRIPTION STATUS DETAILS
Chaman Metallics had 6.4 M shares on offer
Chaman Metallics IPO offer price was ₹38
Chaman Metallics IPO minimum Investment was ₹114000
Chaman Metallics IPO issue size was ₹ 242.1 M
Chaman Metallics had a minimum lot size of 3000 Shares per application
Chaman Metallics NUMBER OF SHARES ON OFFER
Chaman Metallics IPO IMPORTANT DATES
| Issue Open Date | 04 Jan 2023 |
| Issue close Date | 06 Jan 2023 |
| Allotment Date | 11 Jan 2023 |
| Refund Date | 12 Jan 2023 |
| Demat Account Credit Date | 13 Jan 2023 |
| Listing Date | 16 Jan 2023 |
| Listing on Exchange(s) | BSE |
| Chaman Metallics Allotment Status | Exchange |
Chaman Metallics IPO subscription opened on 04 Jan 2023, and closed on 06 Jan 2023
IPO allotment for Chaman Metallics was finalized on Wednesday, 11 Jan 2023
IPO listing for Chaman Metallics was on BSE on Monday, 16 Jan 2023
Chaman Metallics IPO LISTING GAINS
| Issue Price (adjusted) | 38.0 |
| Listing Open Price | 68.0 |
| Listing Close Price | 64.6 |
| Listing Gain% | 79.0% |
| Current Gain% | 155.1% |
Chaman Metallics 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Chaman Metallics Ltd. | 97 | 234 | -56.1 | 0.4 | 0.4 | -4.4 | -0.6 | 542.3 | 211.4 | -4.2 | -142.7 | -1.7 | -142.7 |
| JSW Steel Ltd. | 1299.5 | 317786.7 | 12.8 | 0 | 1.7 | 22.3 | 8.3 | 186718 | 10.1 | 22316 | 536.9 | 101.3 | 411.7 |
| Tata Steel Ltd. | 187.6 | 234128.6 | 21.2 | 0.1 | 1 | 10.6 | 3.6 | 233541.7 | 6.1 | 10793.9 | 215.6 | 8.8 | 143.1 |
| Jindal Steel Ltd. | 1103 | 112515.7 | 41.4 | -5 | 2 | 6.6 | 3.4 | 53553.1 | 7.3 | 3367.4 | 19.7 | 26.6 | -8.4 |
| Steel Authority of India (SAIL) Ltd. | 176.6 | 72936.8 | 17.1 | 0.4 | 0.7 | 5.6 | 2.5 | 111705 | 8.1 | 3372.8 | 42.2 | 10.3 | 40.8 |
| Jindal Stainless Ltd. | 734.6 | 60566 | 18.6 | 0.7 | 1.4 | 16.1 | 7.8 | 43306.1 | 9.4 | 3193.4 | 27.5 | 39.4 | 26.3 |
Chaman Metallics INFORMATION ON IPO ISSUE
About Chaman Metallics
Chaman Metallics, incorporated on November 10, 2003, is primarily engaged in the business of manufacturing and selling direct reduced iron (i.e. sponge iron). Sponge iron is mainly used for making steel in electric arc furnaces and induction furnaces.
Object of the Issue
- To meet working capital requirements
- General corporate purpose
- To meet issue expenses
Chaman Metallics - PROMOTERS
| Name |
|---|
| Chetan Agrawal |
| Keshav Kumar Agrawal |
| G R Sponge and Power Limited |
| N R Sponge Private Limited |
Chaman Metallics Lead Manager of the Issue
Hem Securities Limited
ib@hemsecurities.com
Chaman Metallics Registrar to the Issue
Link Intime India Private Limited
chaman.ipo@linkintime.co.in
Chaman Metallics Strengths
Strategically located manufacturing unit
The company's manufacturing facility is strategically located and well-connected by roads for the transportation of raw materials and finished goods
Standardized product quality
The company strives to produce sponge iron that would constitute high metallic iron content along with consistent chemical and physical characteristics
Long-standing relationship with customers
Owing to strong customer relationships and service, the company has been able to retain a number of customers for a long period
Chaman Metallics Risks
Dependent on few customers
A substantial portion of its revenue is dependent on a few customers with whom the company does not have any firm commitments
Dependent on steel industry
The business is significantly dependent on the steel industry. Any downturn or cyclical fluctuation in the steel sector could reduce demand for products, which can adversely impact the business
Legal proceedings
The company, promoters and directors are parties to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on the business, results of operations and financial condition
IPO FAQs
The promoters of the company are Chetan Agrawal, Keshav Kumar Agrawal, G R Sponge and Power Limited and N R Sponge Private Limited.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 38.0 - 38.0.
The IPO application opens on Jan 04, 2023 and closes on Jan 06, 2023.
The minimum lot size for the IPO is 3000. The maximum lot size for the IPO is 3000.
For all category investors, the minimum application amount for this IPO is Rs. 114,000.0, the maximum value for this IPO is Rs 114,000.0.
This IPO will be allotted on Jan 11, 2023.
The refund will be credited to your account on Jan 12, 2023.
The allotted shares will be credited to your demat on Jan 13, 2023.
Chaman Metallics Ltd.’s shares listed on the stock exchanges on Jan 16, 2023.