Kalana Ispat IPO will open for subscription from 19 September 2024. The company aims for an issue size of ₹32.59 Cr through this IPO.
Company Overview
| Full name | Kalana Ispat Limited |
| Sector | Iron & Steel |
| Industry | Steel & Iron Products |
| Company Website | https://kalanaispat.com/ |
About Company
Founded in October 2012, Kalana Ispat initially focused on trading scrap metal sourced from imports, scrap yards, and local traders. Today, the company primarily produces MS ingots and alloy steel ingots in various grades. Its production facility is certified under international quality management standards, including ISO 2830:2012. Kalana Ispat operates in two main segments: product sales and service sales.
The company ventured into manufacturing MS billets and established a facility in Ahmedabad, Gujarat. It produces MS blocks and alloy steel billets at this location. As of 31 December 2023, the company was operating at full capacity, with an installed capacity of 38,000 M.T. As of September 2024, the company employs three key management personnel (KMPs) and has 15 employees on its payroll. Additionally, it secures temporary manpower from service agencies based on its production needs.
The Objectives of the Issue
- Capital Expenditure for Installation of 4 MW DC & 3.5 MW AC Ground Mounted Solar Power Plant – TPSAT Structure
- Capital expenditure for setting up of rolling mill at Survey No. 4/1 Taluka Sanand, Mouje Kala village, Ahmedabad by the construction of the industrial shed, purchase of equipment/machinery, other assets etc; and
- General Corporate Purpose
Kalana Ispat IPO Timetable
| IPO Opening date | 19 September 2024 |
| IPO Closing | 23 September 2024 |
| Basis of Allotment | 24 September 2024 |
| Initiation Refund | 25 September 2024 |
| Credit to Demat Account | 25 September 2024 |
| Listing Date | 26 September 2024 |
Kalana Ispat IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹32.59 Cr – 4,938,000 shares |
| Fresh Issue | ₹32.59 Cr – 4,938,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Offer Price | ₹66 per share |
| Lot size | 2000 Shares |
| Market Maker portion | 248,000 shares |
| Shareholding pre-issue | 8,101,185 |
| Shareholding post-issue | 13,041,985 |
| Listing Exchange | NSE SME |
Kalana Ispat IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹132,000 |
| Retail (Max) | 1 | 2000 | ₹132,000 |
| HNI (Min) | 2 | 4,000 | ₹264,000 |
Kalana Ispat Offer Documents
Kalana Ispat IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 2,48,000 (5.02%) |
| Other Shares Offered | 23,45,000 (47.49%) |
| Retail Shares Offered | 23,45,000 (47.49%) |
| Total Shares Offered | 49,38,000 (100%) |
Kalana Ispat Financial Performance
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 57.75 | 83.04 | 73.73 |
| Expenses | 57.74 | 82.68 | 70.69 |
| Net income | 0.14 | 0.50 | 2.37 |
Kalana Ispat Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 | |
| EPS | 1.37 | 5.01 | 3.03 |
| PE ratio | – | – | 21.78 |
| RONW (%) | 3.51 | 11.39 | 21.88 |
| NAV | 38.96 | 43.97 | 13.87 |
| ROCE (%) | 6.31 | 8.33 | 21.20 |
| EBITDA (%) | 1.38 | 1.73 | 4.95 |
| Debt/Equity | 0.67 | 1.96 | 0.43 |
Company Promoters
- Mr. Aftabhusen S Khandwawala
- Mr. Varghese Joseph Pottakerry
- Mr. Gurubaxsing Jamiatsing Bagga
- Mr. Sadik Nannabhai Qureshi
Promoter Holding
| Pre Issue Share Holding | 82.72% |
| Post Issue Share Holding | 51.38% |
Kalana Ispat Offer GMP Update
| Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
| 25 September 2024 | 20 | – | 30,000 |
| 24 September 2024 | 18 | – | 28,000 |
| 23 September 2024 | 25 | – | 36,000 |
| 21 September 2024 | 25 | – | 35,000 |
| 20 September 2024 | 25 | – | 35,000 |
| 19 September 2024 | 10 | – | 15,000 |
| 18 September 2024 | 10 | – | 15,000 |
Kalana Ispat IPO Subscription Update
| Category | Non-retail | Retail | Total |
|---|---|---|---|
| Shares Offered | 23,44,000 | 23,46,000 | 46,90,000 |
| 23 Sep 2024 | 40.77 | 74.23 | 57.51 |
| 20 Sep 2024 | 1.27 | 7.42 | 4.35 |
| 19 Sep 2024 | 0.18 | 1.30 | 0.74 |
Kalana Ispat IPO Allotment Status
Kalana Ispat IPO allotment status is now available on Skyline Financial Services’ website. Click on this link to get allotment status.
Kalana Ispat IPO Listing Details
| Listing Date | 26 September 2024 |
| BSE Scrip Code | – |
| NSE Symbol | KALANA |
| ISIN | INE0T0L01014 |
| Final Issue Price | ₹66 per share |
Listing Day Update
| Listing Exchange | NSE SME |
| Final Issue Price | Coming Soon |
| Open | |
| Low | |
| High | |
| Last Trade |
Kalana Ispat IPO Lead Manager(s)
JAWA CAPITAL SERVICES PRIVATE LIMITED
Plot No. 93, First Floor, Pocket 2,
Near DAV School, Jasola, New Delhi- 110025
Phone:+91-11-47366600
Email: mbd@jawacapital.in
Website: www.jawacapital.in
Kalana Ispat Registrar
SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
D-153A, 1st floor, Phase I,
Okhla Industrial Area, Delhi – 110020
Phone: +91-11-40450193-97
Email: ipo@skylinerta.com
Website: www.skylinerta.com
Kalana Ispat Contact Details
KALANA ISPAT LIMITED
C-918, Stratum at Venus Ground, Nr. Jhansi Ki
Rani Statute, Nehrunagar, Ahmedabad – 380015
Phone: +81418 48159
E-mail: contact@kalanaispat.com
Website: www.kalanaispat.com
Kalana Ispat IPO FAQs
What is Kalana Ispat’s offer size?
Kalana Ispat’s offer size is ₹ 32.59 crores.
What is Kalana Ispat’s offer price band?
Kalana Ispat public offer price is ₹ 66 per share.
What is the lot size of Kalana Ispat IPO?
Kalana Ispat offer lot size is 2,000 shares.
What is Kalana Ispat Offer GMP today?
Kalana Ispat Issue GMP today is ₹ 20 per share.
What is Kalana Ispat kostak rate today?
Kalana Ispat kostak rate today is ₹ NA per application.
What is Kalana Ispat IPO Subject to Sauda rate today?
Kalana Ispat Subject to Sauda rate today is ₹ 30,000 per application.
Final thoughts
Kalana Ispat IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
