Incorporated in 2009, Earthstahl & Alloys Limited is engaged in the business of manufacturing Cast Iron Lumps and Ductile Iron Pipe Fittings. The Cast Iron Lumps manufactured by the company are then used in the form of raw material to manufacture products like cast iron pipe fittings, machine components such as latche machines, fan components, manhole covers, decorative cast iron pieces, cast iron pipe fitting and other units engaged in manufacturing of steel or cast iron products.
The other primary product of the company, i.e., Ductile Iron Pipe Fittings are used in public water supply systems as connectors of pipes.
The manufacturing unit of Earthstahl & Alloys Limited is located in the village of Duldula nearby Raipur, Chhattisgarh, and is spread across an area of around 4.73 hectares of land.
Alongside the efficient manufacturing and delivery of Cast iron Lumps and Ductile iron pipe fittings, the entity is also expanding its horizon by producing parts or components of plant and machinery with the help of foam molds. These products include Pellet plants, Cement plants, Sponge iron plants, Power plants, Automobile Sector, and Railway & Ductile Iron Pipes Fittings.
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 2990.73 | 3181.58 | -33.49 | 44.24 | 200.22 | 1733.71 |
| 31-Mar-21 | 2817.23 | 2457.53 | 267.31 | 311.55 | 467.53 | 1396.82 |
| 31-Mar-22 | 3592.61 | 4907.54 | 745.48 | 1057.03 | 1213.01 | 1399.97 |
| 30-Sep-22 | 4303.34 | 4824.68 | 580.47 | 1637.5 | 1793.48 | 1092.93 |
| Amount in ₹ Lakhs |
Objects of the Issue
The company intends to utilize the proceeds of the Issue to meet the following objectives:
- Funding capital expenditure towards change in electricity supply voltage from 33 KV to 132 KV at our manufacturing facility at Village Duldula, Baloda Bazar (C.G.)
- To meet Working Capital requirements
- General Corporate Purpose
- To meet issue expenses
Earthstahl & Alloys IPO Details
| IPO Date | Jan 27, 2023 to Jan 31, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹38 to ₹40 per share |
| Lot Size | 3000 Shares |
| Issue Size | 3,240,000 shares of ₹10 (aggregating up to ₹12.96 Cr) |
| Fresh Issue | 3,240,000 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| QIB Shares Offered | 30% of the Net Issue |
| NII (HNI) Shares Offered | 35% of the Net Issue |
| Retail Shares Offered | 35% of the Net Issue |
| Market Maker | HEM SECURITIES LTD. |
| Company Promoters | Ravi Thakurdasji Laddha, Rajesh Somani, Prawin Somani and Padam Kumar Jain are the promoters of the company. |
Earthstahl & Alloys IPO Tentative Timetable
Earthstahl & Alloys IPO opens on Jan 27, 2023, and closes on Jan 31, 2023. The Earthstahl & Alloys IPO bid date is from Jan 27, 2023 10.00 A.M. to Jan 31, 2023 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Tentative Date |
|---|---|
| Opening Date | Jan 27, 2023 |
| Closing Date | Jan 31, 2023 |
| Basis of Allotment | Feb 3, 2023 |
| Initiation of Refunds | Feb 6, 2023 |
| Credit of Shares to Demat | Feb 7, 2023 |
| Listing Date | Feb 8, 2023 |
Earthstahl & Alloys IPO Lot Size
The Earthstahl & Alloys IPO lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹120,000).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹120,000 |
| Retail (Max) | 1 | 3000 | ₹120,000 |
| HNI (Min) | 2 | 6,000 | ₹240,000 |
Earthstahl & Alloys IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 73.53% |
Earthstahl & Alloys IPO Review
Based on FY23 annualized earnings, the issue is lucratively priced. Super earnings shown by the company for the past 18 months and its sustainability is a major concern. Well-informed cash surplus investors may park funds for medium to long-term rewards. Read detail review…
Earthstahl & Alloys IPO Subscription Status (Bidding Detail)
The Earthstahl & Alloys IPO is subscribed 1.05 times on Jan 27, 2023 11:49:00 AM. The public issue subscribed 2.16 times in the retail category, 0.00 times in the QIB category, and 0.82 times in the NII category. Check Day by Day Subscription Details (Live Status) Reload Subscription
| Category | Subscription (times) |
|---|---|
| QIB | 0.00 |
| NII | 0.82 |
| Retail | 2.16 |
| Total | 1.05 |
Earthstahl & Alloys IPO Prospectus
Company Contact Information
Earthstahl & Alloys Limited
Merlin Jayshree Vihar, Mohani 5 B,
Pandri Tarai, Mandi Gate,
Raipur- 492001
Phone: +91-8120009626
Email: secretarial@earthstahl.com
Website: http://www.earthstahl.com/
Earthstahl & Alloys IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com