Kalana Ispat was incorporated on October 15, 2012. The company is engaged in manufacturing M.S. Billets and Alloy Steel Billets/Ingots.
| Bidding Dates |
|---|
| 19 Sep 2024 - 23 Sep 2024 |
| Subscription |
|---|
| 54.77x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,32,000 | 1 | 1 | 2000 | 4.9 M | ₹66 | 62.13 % | ₹325.9 M | RHP DOC |
Kalana Ispat Ltd. IPO SUBSCRIPTION STATUS
23 Sep '24Kalana Ispat Ltd. IPO overall subscription rate was 54.77 times the total available shares
Kalana Ispat Ltd. IPO retail subscription rate was 70.53 times in the retail segment
Kalana Ispat Ltd. IPO non-institutional investor subscription rate was 70.53 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
23 Sep 2024 (Day 3) | 70.53x | 70.53x | - |
20 Sep 2024 (Day 2) | 7.05x | 7.05x | - |
19 Sep 2024 (Day 1) | 1.24x | 1.24x | - |
Kalana Ispat Ltd. 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) | Margins |
| FY24 | 23.7 | 737.3 | -0.4 | -0.6 | 5.0% |
| FY23 | 5.0 | 830.4 | -46.8 | -49.5 | 1.7% |
| FY22 | 1.4 | 577.5 | -22.4 | -22.4 | 1.4% |
| FY21 | 1.4 | 428.6 | 22.4 | 22.4 | 1.7% |
Kalana Ispat Ltd. IPO SUBSCRIPTION STATUS DETAILS
Kalana Ispat Ltd. had 4.9 M shares on offer
Kalana Ispat Ltd. IPO offer price was ₹66
Kalana Ispat Ltd. IPO minimum Investment was ₹132000
Kalana Ispat Ltd. IPO issue size was ₹ 325.9 M
Kalana Ispat Ltd. had a minimum lot size of 2000 Shares per application
Kalana Ispat Ltd. NUMBER OF SHARES ON OFFER
Kalana Ispat Ltd. IPO IMPORTANT DATES
| Issue Open Date | 19 Sep 2024 |
| Issue close Date | 23 Sep 2024 |
| Allotment Date | 24 Sep 2024 |
| Refund Date | 25 Sep 2024 |
| Demat Account Credit Date | 25 Sep 2024 |
| Listing Date | 26 Sep 2024 |
| Listing on Exchange(s) | NSE |
| Kalana Ispat Ltd. Allotment Status | Exchange |
Kalana Ispat Ltd. IPO subscription opened on 19 Sep 2024, and closed on 23 Sep 2024
IPO allotment for Kalana Ispat Ltd. was finalized on Tuesday, 24 Sep 2024
IPO listing for Kalana Ispat Ltd. was on NSE on Thursday, 26 Sep 2024
Kalana Ispat Ltd. IPO LISTING GAINS
| Issue Price (adjusted) | 66.0 |
| Listing Open Price | 45.1 |
| Listing Close Price | 47.4 |
| Listing Gain% | -31.6% |
| Current Gain% | -71.0% |
Kalana Ispat Ltd. 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Kalana Ispat Ltd. | 19.2 | 25 | 25.8 | -1.3 | 0.5 | 2.2 | 1.9 | 52.9 | -5.7 | 1 | -20.2 | 0.7 | -20.2 |
| JSW Steel Ltd. | 1302 | 318398.1 | 12.8 | 0 | 1.7 | 22.3 | 8.3 | 186718 | 10.1 | 22316 | 536.9 | 101.3 | 411.7 |
| Tata Steel Ltd. | 190.2 | 237486.7 | 21.5 | 0.2 | 1 | 10.6 | 3.6 | 233541.7 | 6.1 | 10793.9 | 215.6 | 8.8 | 143.1 |
| Jindal Steel Ltd. | 1125 | 114759.9 | 42.2 | -5.1 | 2 | 6.6 | 3.4 | 53553.1 | 7.3 | 3367.4 | 19.7 | 26.6 | -8.4 |
| Steel Authority of India (SAIL) Ltd. | 172.4 | 71230.9 | 16.7 | 0.4 | 0.6 | 5.6 | 2.5 | 111705 | 8.1 | 3372.8 | 42.2 | 10.3 | 40.8 |
| Jindal Stainless Ltd. | 732.8 | 60409.3 | 18.6 | 0.7 | 1.4 | 16.1 | 7.8 | 43306.1 | 9.4 | 3193.4 | 27.5 | 39.4 | 26.3 |
Kalana Ispat Ltd. INFORMATION ON IPO ISSUE
About Kalana Ispat Ltd.
Kalana Ispat was incorporated on October 15, 2012. The company is engaged in manufacturing M.S. Billets and Alloy Steel Billets/Ingots.
Object of the Issue
- Capital expenditure for installing a ground-mounted solar power plant.
- Capital expenditure for setting up a rolling mill in Ahmedabad, including building the facility and buying equipment.
- General corporate purpose.
Kalana Ispat Ltd. - PROMOTERS
| Name |
|---|
| Varghese Joseph Pottakerry |
| Aftabhusen S Khandwawala |
| Gurubaxsing Jamiatsing Bagga |
| Sadik Nannabhai Qureshi |
Kalana Ispat Ltd. Lead Manager of the Issue
Jawa Capital Services Private Limited
mbd@jawacapital.in
Kalana Ispat Ltd. Registrar to the issue
Skyline Financial Services Private Limited
ipo@skylinerta.com
Kalana Ispat Ltd. Strengths
Customer relationship
The company's has build strong relationships with customers and suppliers, leading to repeat orders and timely, cost-effective delivery of raw materials. This results in efficient and timely project execution
Locational Advantage
The company is located on a highway, just 300-400 km from the port, facilitating easy procurement of raw materials and delivery of finished products. Additionally, several rolling mills within 200-300 km of the facility use the company's products as primary raw material
Kalana Ispat Ltd. Risks
Geographically concentrated
The company generates all its domestic sales from customers in Gujarat. Any adverse developments in this region could significantly impact revenue and operations
License approvals
The company requires various approvals and licenses to operate and must comply with relevant rules and regulations. Failure to obtain, retain, or renew these approvals and licenses, or to comply with regulations, may negatively impact operations
IPO FAQs
The promoters of the company are Varghese Joseph Pottakerry, Aftabhusen S Khandwawala, Gurubaxsing Jamiatsing Bagga and Sadik Nannabhai Qureshi.
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 66.0 - 66.0.
The IPO application opens on Sep 19, 2024 and closes on Sep 23, 2024.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 132,000.0, the maximum value for this IPO is Rs 132,000.0.
This IPO will be allotted on Sep 24, 2024.
The refund will be credited to your account on Sep 25, 2024.
The allotted shares will be credited to your demat on Sep 25, 2024.
Kalana Ispat Ltd.’s shares listed on the stock exchanges on Sep 26, 2024.