Earthstahl & Alloys IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Mar 23, 2023Let’s have a detailed review of the company and analytics of the Earthstahl & Alloys IPO release date, IPO offer price, subscription, Earthstahl & Alloys Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 38 to Rs 40 |
| Listing At | BSE, SME |
| Min. Order Quantity | 3000 Shares |
| Listing Date | Feb 8, 2023 |
| Offer for Sale | Rs Lakh |
| Fresh Issue | Rs 1,296 Lakh |
| IPO Size | Rs 1,296 Lakh |
| Tick Size | 1 |
Earthstahl & Alloys IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
Earthstahl & Alloys IPO – Summary
They started their operations of manufacturing cast iron in the year 2012 with one submerged electric arc furnace with a capacity of 3.6 MVA to manufacture 10,500 tonnes p.a. of Cast iron Lumps.
Thereafter in the year 2017, their company forayed into the Ductile Iron Pipes fittings segment to cater to the growing water infrastructure requirements in the country
The Promoter of this company is Ravi Thakurdasji Laddha, Rajesh Somani, Prawin Somani and Padam Kumar Jain. The lead manager to the issue is HEM SECURITIES LIMITED, and the Registrar to this issue is BIG SHARE SERVICES PRIVATE LIMITED.
Earthstahl & Alloys IPO Date
The opening and the closing date of Earthstahl & Alloys IPO are Jan 27, 2023 and Jan 31, 2023 respectively.
Earthstahl & Alloys IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 27th Jan | 2.58x | 5.46x | 9.61x | 6.05x |
| 2nd Day – 30th Jan | 4.26x | 16.32x | 43.17x | 22.13x |
| 3rd Day – 31st Jan | 7.63x | 67.31x | 70.15x | 50.47x |
| Shares Offered or Net Issue | 918,000 | 1,077,000 | 1,077,000 | 3,072,000 |
The shares subscribed by the public will be updated here.
Check Earthstahl & Alloys IPO LIVE Subscription
- Earthstahl & Alloys IPO LIVE Bid details on BSE
- Earthstahl & Alloys IPO LIVE Bid details on NSE
For the Latest Bid details click on the above links.
Earthstahl & Alloys IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Earthstahl & Alloys Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | Feb 3, 2023 |
| Refunds Initiation | Feb 6, 2023 |
| Credit of Shares to Demat Account | Feb 7, 2023 |
| Share Listing Date | Feb 8, 2023 |
Earthstahl & Alloys IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs 38 to Rs 40
Earthstahl & Alloys IPO Equity Size
This Initial Public Issue of 32,40,000 Equity Shares of Rs.10 each for cash at a price of Rs 38 to Rs 40 per equity share aggregating to Rs.1,296 Lakh.
Earthstahl & Alloys IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 3,240,000 Equity Shares of Rs.10/ each.
Issue Size: 3,240,000 Equity Shares of Rs.10 each, aggregating to Rs.1,296 Lakh
Open Free Demat Account Now!
Earthstahl & Alloys IPO – Live Performance
The listing date of this IPO is Feb 8, 2023. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Earthstahl & Alloys Share Price |
Earthstahl & Alloys IPO Grey Market Premium
The Earthstahl & Alloys Limited IPO Grey Market Premium price is Rs 15, the Kostak rate is Rs NA and the Subject to Sauda is Rs NA.
Earthstahl & Alloys IPO – Company Overview
Their manufacturing unit is located in the village Duldula about 50 KMs from Raipur, Chhattisgarh and is spread across an area of around 4.73 hectares of land.
They are using waste generated by integrated steel plants, sponge iron plants and rolling mills in their manufacturing process as raw material and recover iron from the left out waste, thus conserving the environment.
The plant is located near to the source of raw material i.e. Bhilai Steel Plant of SAIL and other pellet and sponge iron plants located in Raipur and surrounding area.
Strategic location of their manufacturing facility ensures their access to ferrous waste, steel scrap, pig iron (steel grade), carburizer, ferro alloys and other raw materials like: coal, coke and dolomite required in manufacturing process forming a substantial part of cost of production at a low logistic cost.
Earthstahl & Alloys IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakh) | ||||
| 30-Sep-22 | 31-Mar-22 | Mar-21 | 31-Mar-20 | |
| Total Assets | 4,303.34 | 3,592.61 | 2,817.23 | 2,990.73 |
| *Total Revenue | 4,824.68 | 4,907.54 | 2,457.53 | 3,181.58 |
| Total Expense | 4,041.69 | 3,817.74 | 2,115.29 | 3,217.55 |
| Profit After Tax | 580.47 | 745.48 | 267.31 | (33.49) |
Earnings per Equity Share (in Lakh)
| 30-Sep-22 | 31-Mar-22 | Mar-21 | 31-Mar-20 | |
| Basic & Diluted | 6.45 | 8.28 | 2.97 | (0.37) |
Further, their PAT for the period ended on Sep 30, 2022, March 31, 2022, March 31, 2021, and March 31, 2020, were Rs. 580.47 Lakh, Rs. 745.48 Lakh, Rs. 267.31 Lakh and Rs. (33.49) Lakh respectively.
Earthstahl & Alloys IPO – Promoters
The Promoter of this company is:
- Ravi Thakurdasji Laddha,
- Rajesh Somani, Prawin Somani
- Padam Kumar Jain
List of Related Parties (Key Managerial Personnel)
- Ravi Thakurdasji Laddha, Non –Executive Director
- Rajesh Somani, Whole-Time Director
- Prawin Somani, Whole-Time Director
- Padma Somani, Whole- Time Director
- Surendra Kumar Jain, Chairman and Independent Director
- Vinod Kumar Arora, Independent Director
Earthstahl & Alloys IPO – Promoters Holding
- Pre-Issue Share Holding – 100.00%
- Post Issue Share Holding – 73.53%
Earthstahl & Alloys IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 32,40,000 Equity Shares aggregating up to Rs.1,296 Lakh |
| of which: | |
| Issue Reserved for the Market Makers | Up to 1,68,000 Equity Shares aggregating up to Rs.[●] Lakh |
| Net Issue to the Public | Up to 30,72,000 Equity Shares aggregating up to Rs.[●] Lakh |
| Of which: | |
| Retail Investors Portion | Not less than 10,77,000 Equity Shares |
| Other than Retail Individual Investors | Not more than 10,77,000 Equity Shares |
| Equity Shares outstanding prior to the Issue | 90,00,000 Equity Shares |
| Equity Shares outstanding after the Issue | 1,22,40,000 Equity Shares |
Earthstahl & Alloys IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
1. Funding capital expenditure towards change in electricity supply voltage from 33 KV to 132 KV at their manufacturing facility at Village Duldula, Baloda Bazar (C.G.)
2. To meet Working Capital requirements
3. General Corporate Purpose
4. To meet issue expenses
Earthstahl & Alloys IPO – Business Strategy
- Continues to focus on cost efficiency and increase profitability by upgrading and integrating their existing manufacturing facility
- Continue to strengthen their relationships with the customers
- Focus on consistently meeting quality standards
- Expand their geographical network.
- Focus on backward integration
Earthstahl & Alloys IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Strategically located manufacturing plant resulting in cost and time efficiencies
- Environment friendly manufacturing process generating Wealth from Waste
- Quality Assurance
- Diversified Client Base and long standing relationship with their customers
- Experienced Promoters, Board and senior management team
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-22 | 8.28 | 70.53 | 11.74 |
| 31-Mar-21 | 2.97 | 85.80 | 3.46 |
| Mar-20 | (0.37) | (75.71) | 0.49 |
Earthstahl & Alloys IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Lakhs) | |
| Earthstahl & Alloys Limited | 10 | [●] | 8.28 | 70.53 | 4,824.68 |
| Listed Peers | |||||
| NA | – | – | – | – | – |
Earthstahl & Alloys IPO Lead Managers
| Lead Managers |
| HEM SECURITIES LIMITED 904, A Wing, Naman Midtown, Senapati Bapat Marg, Elphinstone Road, Lower Parel, Mumbai-400013, India Tel. No.: +91- 022- 49060000; Fax No.: +91- 022- 22625991 Email: ib@hemsecurities.com Investor Grievance Email: redressal@hemsecurities.com Website: www.hemsecurities.com Contact Person : Mrs. Roshni Lahoti SEBI Regn. No. INM000010981 |
Earthstahl & Alloys IPO Registrar to offer
| Registrar to the Offer |
| BIGSHARE SERVICES PRIVATE LIMITED Address: S6-2, 6th Floor, Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, Andheri (East) Mumbai – 400093, India. Tel No.: +91 22 6263 8200 Facsimile: +91 22 6263 8299 Email: ipo@bigshareonline.com Contact Person: Mr. Babu Rapheal Website: www.bigshareonline.com SEBI Registration Number: MB/INR000001385 |
Earthstahl & Alloys IPO – Other Details
- Statutory Auditor – M/s. APAS & Co. LLP. Chartered Accountants
- Legal Counsel to the Company – Vedanta Law Chambers
- Bankers to the Company – Yes Bank Limited
Earthstahl & Alloys IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Earthstahl & Alloys Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Earthstahl & Alloys IPO Review FAQs
Check out various FAQs related to Earthstahl & Alloys IPO:
What is the Issue Size of Earthstahl & Alloys IPO?
The Company is making an initial public offer of 3,240,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and the net issue.
What is the Price band of Earthstahl & Alloys IPO?
The price band for this particular IPO ranges between Rs 38 to Rs 40. As far as the face value of the share is of concern, it is Rs.10 per share.
What is the Earthstahl & Alloys IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on Jan 27, 2023, while the closing date is set at Jan 31, 2023.
What is the Earthstahl & Alloys IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on Feb 3, 2023, refund initiation is on Feb 6, 2023, credit of shares is on Feb 7, 2023, and share listing date is on Feb 8, 2023.
What is the Earthstahl & Alloys IPO Listing Date?
Shares of this company shall be listed in the exchanges Feb 8, 2023. The date, when the listing would be done, is stagnant on Feb 8, 2023.
Who is the Registrar of Earthstahl & Alloys IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Bigshare Services Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Earthstahl & Alloys IPO?
Here are the promoters of this IPO – Ravi Thakurdasji Laddha, Rajesh Somani, Prawin Somani and Padam Kumar Jai. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is GMP of Earthstahl & Alloys IPO?
They have obtained the GMP of this IPO and it is Rs 15. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is Earthstahl & Alloys IPO good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Earthstahl & Alloys Company?
They have the information of company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2022 in Lakh is 745.48, 2021 is 267.31, and 2020 is (33.49). PAT from Sep 2022 is 580.47.
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