Surani Steel Tubes was incorporated on July 31, 2012. The company is engaged in the business of manufacturing of electric resistance welding mild steel, pipes in various specifications, sizes ranging from 20NB to 100NB, and also in the trading of the hot rolled coil and HR slit coils.
| Bidding Dates |
|---|
| 25 Jan 2019 - 29 Jan 2019 |
| Subscription |
|---|
| 1.55x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,04,000 | 1 | 1 | 2000 | 2.5 M | ₹51 - ₹52 | 70.01 % | ₹126.7 M - ₹129.2 M | RHP DOC |
Surani Steel Tubes IPO SUBSCRIPTION STATUS
29 Jan '19Surani Steel Tubes IPO overall subscription rate was 1.55 times the total available shares
Surani Steel Tubes IPO retail subscription rate was 1.23 times in the retail segment
Surani Steel Tubes IPO non-institutional investor subscription rate was 1.7 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
25 Jan 2019 (Day 1) | 0.29x | 0.68x | - |
28 Jan 2019 (Day 2) | 0.47x | 0.93x | - |
29 Jan 2019 (Day 3) | 1.23x | 1.7x | - |
Surani Steel Tubes 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 |
| 4MFY19 | 4.1 | 361.3 | -1.4 | -18.1 | 2.5% |
| FY18 | 17.2 | 1,007.8 | -9.4 | -49.9 | 4.2% |
| FY17 | 10.0 | 766.7 | 24.4 | 1.7 | 4.6% |
| FY16 | 11.0 | 684.3 | -0.9 | -7.8 | 5.0% |
Surani Steel Tubes IPO SUBSCRIPTION STATUS DETAILS
Surani Steel Tubes had 2.5 M shares on offer
Surani Steel Tubes IPO offer price was in the range ₹51 - ₹52
Surani Steel Tubes IPO minimum Investment was ₹104000
Surani Steel Tubes IPO issue size was ₹ 126.7 M - ₹ 129.2 M
Surani Steel Tubes had a minimum lot size of 2000 Shares per application
Surani Steel Tubes NUMBER OF SHARES ON OFFER
Surani Steel Tubes IPO IMPORTANT DATES
| Issue Open Date | 25 Jan 2019 |
| Issue close Date | 29 Jan 2019 |
| Allotment Date | 01 Feb 2019 |
| Refund Date | 04 Feb 2019 |
| Demat Account Credit Date | 05 Feb 2019 |
| Listing Date | 06 Feb 2019 |
| Listing on Exchange(s) | NSE |
| Surani Steel Tubes Allotment Status | Exchange |
Surani Steel Tubes IPO subscription opened on 25 Jan 2019, and closed on 29 Jan 2019
IPO allotment for Surani Steel Tubes was finalized on Friday, 01 Feb 2019
IPO listing for Surani Steel Tubes was on NSE on Wednesday, 06 Feb 2019
Surani Steel Tubes IPO LISTING GAINS
| Issue Price (adjusted) | 52.0 |
| Listing Open Price | 53.1 |
| Listing Close Price | 53.3 |
| Listing Gain% | 2.1% |
| Current Gain% | 92.2% |
Surani Steel Tubes 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Surani Steel Tubes Ltd. | 100 | 82.8 | 38.7 | 0.1 | 0.9 | 3.2 | 1.6 | 95.8 | -57.8 | 4 | 726.8 | 2.6 | 340.5 |
| APL Apollo Tubes Ltd. | 2083.3 | 57844.6 | 47.1 | 0.9 | 2.5 | 22.7 | 13.6 | 23190.8 | 11.6 | 1203.1 | 58.9 | 44.3 | 53.4 |
| Welspun Corp Ltd. | 1873.3 | 49415.9 | 21.4 | 1.4 | 2.9 | 17.6 | 7.9 | 16905.4 | 19.3 | 1613 | -15.5 | 87.5 | 14.9 |
| Usha Martin Ltd. | 488 | 14869.9 | 29.3 | 1.2 | 3.9 | 14.1 | 11.1 | 3759.9 | 7 | 466 | 14.4 | 16.6 | 25.4 |
| Vedanta Iron and Steel Ltd. | 36.9 | 14417.6 | 0 | -191.6 | 0 | 0 | -28.4 | ||||||
| Technocraft Industries (India) Ltd. | 3088.7 | 7002.9 | 20.6 | 0.6 | 2.4 | 14.1 | 8.8 | 2860.8 | 6.1 | 285.3 | 11.4 | 149.8 | 33.1 |
Surani Steel Tubes INFORMATION ON IPO ISSUE
About Surani Steel Tubes
Surani Steel Tubes was incorporated on July 31, 2012. The company is engaged in the business of manufacturing of electric resistance welding mild steel, pipes in various specifications, sizes ranging from 20NB to 100NB, and also in the trading of the hot rolled coil and HR slit coils.
Object of the Issue
- Funding the working capital requirements of the company
- General corporate purposes
Surani Steel Tubes - PROMOTERS
| Name |
|---|
| Mukesh Patel |
| Dinesh Patel |
| Karshan Patel |
| Prakash Patel |
| Mani Patel |
| Prakash Karsanbhai Patel HUF |
| Karsanbhai Devjibhai Patel HUF |
Surani Steel Tubes Lead Manager to the issue
Pantomath Capital Advisors Private Limited
ipo@pantomathgroup.com
Surani Steel Tubes Registrar to the Offer
Link Intime India Private Limited
suranisteel.ipo@linkintime.co.in
Surani Steel Tubes Strengths
Experienced management team
The promoters and the senior management team of have industry experience and have been instrumental in the growth of the company's sustainability
Quality products
The company has been accredited with ISO 9001:2015 (Quality Management system) from BMS Certification (P) Ltd. and IS 4923: 1997 and IS 1161:2014 from the Bureau of Indian Standards for the manufacture and supply of ERW pipes
Diversified product range
The product portfolio includes a diversified variety of pipes in various specifications, and sizes, ranging from 20NB to 100NB having wide applications in varied industries like architectural, infrastructural, industrial, and engineering industry
Surani Steel Tubes Risks
Legal proceedings
There are outstanding legal proceedings and litigations against the company, promoters, directors, and group company
Volatile industry
The demand and pricing in the steel industry are volatile and are sensitive to the cyclical nature of the industries it serves
IPO FAQs
The promoters of the company are Mukesh Patel, Dinesh Patel, Karshan Patel, Prakash Patel, Mani Patel, Prakash Karsanbhai Patel HUF and Karsanbhai Devjibhai Patel HUF.
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 51.0 - 52.0.
The IPO application opens on Jan 25, 2019 and closes on Jan 29, 2019.
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. 104,000.0, the maximum value for this IPO is Rs 104,000.0.
This IPO will be allotted on Feb 01, 2019.
The refund will be credited to your account on Feb 04, 2019.
The allotted shares will be credited to your demat on Feb 05, 2019.
Surani Steel Tubes Ltd.’s shares listed on the stock exchanges on Feb 06, 2019.