Surani Steel Tubes Limited IPO

Add to Calendar 2019-01-25 12:00 AM 2019-01-29 12:00 AM Asia/Kolkata Surani Steel Tubes Limited IPO Surani Steel Tubes Limited India

Surani Steel Tubes Limited is an ISO 9001:2015 certified company for manufacturing and supply of ERW pipes in various sizes ranging from 20NB to 100NB besides this it also deals in Hot Rolled Coil and HR slit coils. It has also received IS 4923:1997 and IS 1161:2014 Quality Standard License from Bureau of Indian Standards. Its manufacturing facility is spread across 8,300 square meters of land with an installed capacity of 25,000 MT p.a. in Dahegam, Gandhinagar in Gujarat. The Company has processed 23,792 MT of ERW MS Pipes for FY 2017-18. It has over 300 dealers across Gujarat.

Date of Incorporation: The Company was incorporated as ‘Surani Steel Private Limited’ on 31st July 2012 in Gandhinagar, Gujarat. Subsequently, it was reformed to ‘Surani Steel Tubes Limited’ a public limited company on 12th September 2018.

Promoters of Surani Steel Tubes Limited: Mukesh Patel, Dinesh Patel, Karshan Patel, Prakash Patel, Mani Patel, Karsanbhai Devjibhai Patel HUF & Prakash Karsanbhai Patel HUF are the promoters of Surani Steel Tubes Limited.

Products and Services Offering: The products portfolio of Company includes:

  • - ERW MS Pipes (round pipes, square and rectangular hollow Sections).

  • - HR Slit Coil.

  • - HR Coil.

Customer Segments: Surani Steel Tubes Limited has diversified customer segments that are spread across Architectural, Infrastructural, Industrial and Engineering Sectors across domestic markets.

The Top 5 Customers for FY 2017-18 includes Amit Pipe & Tube, Calcutta Hardware Mart, Kisan Enterprise, Kisan Pipe and Steel and Shivshakti Marketing among other clients.


Objects of Surani Steel Tubes Limited IPO: The main Objectives of this issue are:

  • - Financing Working Capital Requirements of the Company.

  • - General Corporate Expenses Requirements.

Company Financials:

Particulars

For the year/period ended (in Rs. Lakhs)


31-Mar-2018

31-Mar-2017

31-Mar-2016

31-Mar2015

31-Mar-2014

Total Assets

3,528.36

2,836.35

2,298.30

1,594.83

1,541.34

Total Revenue

10,079.72

7,670.08

6,845.89

5,814.16

3,599.92

Profit After Tax

172.44

99.9

109.6

16.25

-2.99

Issue Detail

  • Issue Open: Jan 25, 2019
  • Issue Close: Jan 29, 2019
  • Issue Type: Book Built Issue IPO
  • Face Value: Rs 10 Per Equity Share
  • Price Band: Rs 51- Rs 52 Per Equity Share
  • Bid Lot:2000 Shares
  • Minimum Order Quantity:2000 Shares
  • Listing At: NSE SME
  • Issue Size: • Rs 12.92 Cr

Current Bidding Status

Number of Times Subscribed (BSE + NSE)
As on Date & Time QIB NII RII Employee Others Total
Shares Offered / Reserved - 1,242,000 1,242,000 - - 2,358,000
Day 1 - Jan 25, 2019IST - 0.68x 0.29x - - 0.51x
Day 2 - Jan 28, 2019IST - 0.93x 0.47x - - 0.74x
Day 3 - Jan 29, 2019IST - 1.70x 1.23x - - 1.55x

Listing Day Trading Information

- BSE NSE
Issue Price - Rs 52.00
Open - Rs 53.10
Low - Rs 50.45
High - Rs 53.25
Last Trade - Rs 53.25
Volume - 12,000

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