Surani Steel IPO description – Surani Steel is engaged in the business of Electric Resistance Welding Mild Steel Pipes (round pipes, square and rectangular hollow selections) in various specifications, sizes ranging from 20NB to 100NB. The company also trades in Hot Rolled Coil and HR slit coils. Its products have applications in varied industries like Architectural, Infrastructural, Industrial and Engineering Industry. As on 31 March 2018, the company has entered into agreements with over 300 dealers across Gujarat. The company also generates revenues from sale of scraps.
It produces diversified range of products at its manufacturing plant at Dahegam, Gandhinagar in Gujarat on around 8,300 square meter of land having an installed capacity of 25,000 MT per annum. For FY 2017-18, the company processed 23,792 MT of ERW MS pipes.
Surani Steel Tubes promoters – Mukesh Patel, Dinesh Patel, Karshan Patel, Prakash Patel, Mani Patel, Karsanbhai Devjibhai Patel HUF & Prakash Karsanbhai Patel HUF
| Surani Steel – Upcoming IPO details | |
| Subscription Dates | 25 – 29 January 2019 |
| IPO Price band | INR51 – 52 per share |
| Fresh issue | 2,358,000 shares (INR12.03 – 12.26 crore) |
| Offer for sale | Nil |
| Total IPO size | 2,358,000 shares (INR12.03 – 12.26 crore) |
| Minimum bid (lot size) | 2,000 shares |
| Face Value | INR10 per share |
| Retail Allocation | 50% |
| Listing On | NSE Emerge SME platform |
Use of funds
- Working Capital Requirements – INR9.20 crore
- General Corporate Purposes
- Issue Expenses
| Surani Steel’s consolidated financial performance (in INR crore) | ||||||
| FY2014 | FY2015 | FY2016 | FY2017 | FY2018 | 4M FY2019 | |
| Total revenue | 36.0 | 58.1 | 68.5 | 76.7 | 100.8 | 36.1 |
| Total expenses | 36.0 | 57.9 | 66.9 | 74.9 | 98.0 | 35.8 |
| Profit after tax | -0.03 | 0.16 | 1.10 | 1.00 | 1.72 | 0.41 |
Surani Steel Tubes Contact Details
Surani Steel Tubes LimitedÂ
S. No. 110, 115, Opp. Vinayak TMT
Bayad Road, Sampa, Tal. Dahegam
Gandhinagar, Gujarat-382315
Phone:Â +91 9825515372
Email: [email protected]
Website:Â www.suranisteel.com
Surani Steel IPO Subscription Details
| Day | Subscription (no. of times) |
| Day 1 | 0.48 |
| Day 2 | 0.70 |
| Day 3 | 1.47 |
Surani Steel Tubes Valuation (For FY2018)
Earnings Per Share (EPS): INR3.44
Price/Earnings (P/E) ratio: 14.83 – 15.12
Return on Net Worth (RONW): 16.56%
Net Asset Value (NAV): INR17.95 per share
Registrar of Surani Steel IPO
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg, Vikhroli (West)
Mumbai – 400 083
Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email:Â [email protected]
Website:Â http://www.linkintime.co.in
Surani Steel IPO Allotment Status
Surani Steel Tubes IPO allotment status is now available on Link Intime’s website. Click on this link to get allotment status.
Listing performance of Surani Steel Tubes
IPO Opening Date: 25 January 2019
IPO Closing Date: 29 January 2019
Listing Date: 6 Feb 2019
Listing Price on NSE SME: INR53.1 per share (up 2.12% from IPO price)
Closing Price on NSE SME: INR53.25 per share (up 2.4% from IPO price)
Consistent profits. I like it, doesn’t look like the books are made up in this case.