Surani Steel IPO

Surani Steel IPOSurani 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 Limited 
S. No. 110, 115, Opp. Vinayak TMT
Bayad Road, Sampa, Tal. Dahegam
Gandhinagar, Gujarat-382315

Phone: +91 9825515372
Email: [email protected]

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[email protected]

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)



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