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Earthstahl & Alloys Limited IPO (Earthstahl & Alloys IPO) Detail

January 27, 2023 - January 31, 2023

Earthstahl & Alloys IPO is a book built issue of Rs 12.96 crores. The issue is entirely a fresh issue of 32.4 lakh shares.

Earthstahl & Alloys IPO bidding started from January 27, 2023 and ended on January 31, 2023. The allotment for Earthstahl & Alloys IPO was finalized on Friday, February 3, 2023. The shares got listed on BSE SME on February 8, 2023.

Earthstahl & Alloys IPO price band is set at ₹38 to ₹40 per share. The minimum lot size for an application is 3000 Shares. The minimum amount of investment required by retail investors is ₹120,000. The minimum lot size investment for HNI is 2 lots (6,000 shares) amounting to ₹240,000.

Hem Securities Limited is the book running lead manager of the Earthstahl & Alloys IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Earthstahl & Alloys IPO is Hem Securities.

Refer to Earthstahl & Alloys IPO RHP for detailed information.

Earthstahl & Alloys IPO Details

IPO Date January 27, 2023 to January 31, 2023
Listing Date February 8, 2023
Face Value ₹10 per share
Price Band ₹38 to ₹40 per share
Lot Size 3000 Shares
Total Issue Size3,240,000 shares
(aggregating up to ₹12.96 Cr)
Fresh Issue3,240,000 shares
(aggregating up to ₹12.96 Cr)
Issue Type Book Built Issue IPO
Listing At BSE SME
Market Maker portion168,000 shares
Hem Securities

Earthstahl & Alloys IPO Reservation

Earthstahl & Alloys IPO offers 3,240,000 shares. 918,000 (28.33%) to QIB, 1,077,000 (33.24%) to NII, 1,077,000 (33.24%) to RII.

Investor Category Shares Offered
Anchor Investor Shares Offered-
Market Maker Shares Offered168,000 (5.19%)
QIB Shares Offered918,000 (28.33%)
NII (HNI) Shares Offered1,077,000 (33.24%)
Retail Shares Offered1,077,000 (33.24%)
Total Shares Offered3,240,000 (100%)

Earthstahl & Alloys IPO Timeline (Tentative Schedule)

Earthstahl & Alloys IPO opens on January 27, 2023, and closes on January 31, 2023.

IPO Open Date Friday, January 27, 2023
IPO Close Date Tuesday, January 31, 2023
Basis of Allotment Friday, February 3, 2023
Initiation of Refunds Monday, February 6, 2023
Credit of Shares to Demat Tuesday, February 7, 2023
Listing Date Wednesday, February 8, 2023
Cut-off time for UPI mandate confirmation 5 PM on January 31, 2023

Earthstahl & Alloys IPO Lot Size

Investors can bid for a minimum of 3000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 3000 ₹120,000
Retail (Max) 1 3000 ₹120,000
HNI (Min) 2 6,000 ₹240,000
Lot Size Calculator

Earthstahl & Alloys IPO Promoter Holding

Ravi Thakurdasji Laddha, Rajesh Somani, Prawin Somani and Padam Kumar Jain are the promoters of the company.

Share Holding Pre Issue 100.00%
Share Holding Post Issue 73.53%

About Earthstahl & Alloys Limited

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

Earthstahl & Alloys Limited Financial Information (Restated)
Period EndedTotal AssetsTotal RevenueProfit After TaxNet WorthReserves and SurplusTotal Borrowing
31-Mar-202,990.733,181.58-33.4944.24200.221,733.71
31-Mar-212,817.232,457.53267.31311.55467.531,396.82
31-Mar-223,592.614,907.54745.481,057.031,213.011,399.97
30-Sep-224,303.344,824.68580.471,637.501,793.481,092.93
Amount in ₹ Lakhs

Key Performance Indicator

The market capitalization of Earthstahl & Alloys IPO is Rs 48.96 Cr.

Pre IPO Post IPO
P/E (x) 4.22

Objects of the Issue (Earthstahl & Alloys IPO Objectives)

The company intends to utilize the proceeds of the Issue to meet the following objectives:

  1. 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.)
  2. To meet Working Capital requirements
  3. General Corporate Purpose
  4. To meet issue expenses

Earthstahl & Alloys IPO Review (May apply)

[Dilip Davda]  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 235.18 times on January 31, 2023 6:58:00 PM. The public issue subscribed 191.77 times in the retail category, 39.83 times in the QIB category, and 445.09 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB39.83
NII445.09
Retail191.77
Total235.18

Earthstahl & Alloys IPO Prospectus

Earthstahl & Alloys IPO Rating

292
4.3
Rating:Rated 4.3 stars
Vote Here ...

Earthstahl & Alloys IPO Listing Details

Listing Date February 8, 2023
BSE Script Code 543765
NSE Symbol
ISIN INE0O4V01010
Final Issue Price ₹40 per share

Pre-Open Session - BSE

Listing Day Trading Information

Price Details
Final Issue Price
Open
Low
High
Last Trade
BSE SME
₹40.00
₹55.00
₹52.50
₹57.75
₹57.75

Check IPO Performanceโ€ฆ

Earthstahl & Alloys Limited Contact Details

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: https://ipo.bigshareonline.com/ipo_status.html

Earthstahl & Alloys IPO - Buy or Not

Earthstahl & Alloys IPO Recommendation Summary

Review By Subscribe Neutral Avoid
Brokers 1 0 0
Members 0 0 1

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Earthstahl & Alloys IPO FAQs

Earthstahl & Alloys IPO is a SME IPO of 3,240,000 equity shares of the face value of ₹10 aggregating up to ₹12.96 Crores. The issue is priced at ₹38 to ₹40 per share. The minimum order quantity is 3000 Shares.

The IPO opens on January 27, 2023, and closes on January 31, 2023.

Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE SME.

Zerodha customers can apply online in Earthstahl & Alloys IPO using UPI as a payment gateway. Zerodha customers can apply in Earthstahl & Alloys IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in Earthstahl & Alloys IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Earthstahl & Alloys IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Earthstahl & Alloys IPO opens on January 27, 2023 and closes on January 31, 2023.

Earthstahl & Alloys IPO lot size is 3000 Shares, and the minimum amount required is ₹120,000.

You can apply in Earthstahl & Alloys IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for Earthstahl & Alloys IPO will be done on Friday, February 3, 2023, and the allotted shares will be credited to your demat account by Tuesday, February 7, 2023. Check the Earthstahl & Alloys IPO allotment status.

The Earthstahl & Alloys IPO listing date is on February 8, 2023.
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Earthstahl & Alloys IPO Message Board

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759 Comments

266. SSingh |   Link |  Bookmark |February 28, 2023 2:34:42 PM
IPO Guru IPO Guru (1400+ Posts, 800+ Likes)
Exited as SL hit. No more positions here. ๐Ÿ™๐Ÿป
266.4. SSingh |   Link |  Bookmark |February 28, 2023 8:34:54 PM
IPO Guru IPO Guru (1400+ Posts, 800+ Likes)
@JJGG,
I dont think so. I have better companies to opt for from main board.
@IPO Share
I had allotments only. Hence booked profit only.
@Polarstar
I never try intraday. But selling first and then covering later is allowed. You need more margins though.
266.5. POLARSTAR |   Link |  Bookmark |February 28, 2023 9:35:48 PM
๐Ÿ‘thank you sir @SSingh
265. Medha |   Link |  Bookmark |February 28, 2023 12:49:29 PM
All e tech is falling every day. Will it come to 50 levels
264. ipo share |   Link |  Bookmark |February 27, 2023 2:09:45 PM
IPO Guru IPO Guru (1500+ Posts, 700+ Likes)
Earthsthal has fallen on earth. Hem Securities, please help to pick it up.
263. Saurabh Someshwar Jogi |   Link |  Bookmark |February 27, 2023 1:37:58 PM
IPO Mentor IPO Mentor (800+ Posts, 800+ Likes)
Added 2 more lots today at 50.4 avg.
Not going to sell anytime soon.
262. POLARSTAR |   Link |  Bookmark |February 27, 2023 12:10:08 PM
Now , no hope for reversal......... IPO allotted people are in que.......
Pressure
261. crsl |   Link |  Bookmark |February 27, 2023 9:41:29 AM
IPO Mentor IPO Mentor (600+ Posts, 300+ Likes)

EARTHSTAHL ALLOYS LIMITED
Trading @ new all time low
51.55 -1.90 (-3.55%)

260. SSingh |   Link |  Bookmark |February 24, 2023 1:19:12 PM
IPO Guru IPO Guru (1400+ Posts, 800+ Likes)
Looks like Bear cartel has targetted HEM's recently listed IPOs ;)
260.5. Saurabh Someshwar Jogi |   Link |  Bookmark |February 24, 2023 3:46:59 PM
IPO Mentor IPO Mentor (800+ Posts, 800+ Likes)
Never sell a strong fundamental company due selling pressure.
I sold homesfy at 273,
And it went till 600 after few days.
Hold earthstahl for good returns.
Strong companies will never disappoint you.
260.6. POLARSTAR |   Link |  Bookmark |February 24, 2023 7:47:49 PM
Seems ...Going to break 50 level....ipo price coming ๐Ÿ˜”
259. POLARSTAR |   Link |  Bookmark |February 24, 2023 1:25:13 PM
Iska result 6 months me 1 bar aata hai ?๐Ÿค” April-May me ayega next result?
258. Medha |   Link |  Bookmark |February 24, 2023 8:52:02 AM
Dear ravichandran sir and ipo aspire sir, what to do in all e tech, should one hold or exit as it is giving tremendous loss.
257. ipo share |   Link |  Bookmark |February 23, 2023 7:29:39 AM
IPO Guru IPO Guru (1500+ Posts, 700+ Likes)
Post listing under performance of fundamentally sound SMEs with good valuations like Earthsthal, Chaman, All E Tech and many more will definitely impact upcoming listings. There will be lack of conviction to hold on to SMEs post listing. Everyone would be inclined to book profits on listing. This is definitely not a good sign. Operators may gain in short term but will result in ousting retailers because retailers don't have so much money to hold on smes for long term. They need money to further apply in IPOs. I feel, we have to lnow lower our expectations from SMEs also after Mainboard IPOs. It will be interesting to see whether GMP actually converts into listing also in same ratio. Situation will change only when Adani tension ends and market sentiment improves. Caution is needed for those who believe in holding on to SMEs.
257.5. ipo share |   Link |  Bookmark |February 24, 2023 9:40:57 AM
IPO Guru IPO Guru (1500+ Posts, 700+ Likes)
@SSingh
Yes, I am not going to sell Earthsthal in loss (bought @63.80). Will hold on to it because I know it is fundamentally sound and at genuine valuations. Let operators play their game. They may succeed in short term to bring price down but I have decided to wait. Thanks for sharing beautiful and true quote.
257.6. SSingh |   Link |  Bookmark |February 24, 2023 10:50:19 AM
IPO Guru IPO Guru (1400+ Posts, 800+ Likes)
Aapne price dekh ke ghabarana nahii hai..
Soch samjh ke liya hai aapne to accha hee hoga, bharosa rakho, Khud pe.. :)
256. POLARSTAR |   Link |  Bookmark |February 23, 2023 2:19:01 PM
This is going to behave like CHAMAN Metallics ....same!
255. Ipoaspire |   Link |  Bookmark |February 22, 2023 11:04:54 AM (300+ Posts)
@mravichandran sir.earth is down today even after the circuit change.how do you see this in mid term of 3 to 4 months.will this shoot up.
255.8. Kapz |   Link |  Bookmark |February 27, 2023 9:56:12 AM
IPO Mentor IPO Mentor (600+ Posts, 200+ Likes)
As expected, based on recent trends, Earth down to 50.50.. making it a very interesting candidate to add more. Likely to bounce back from just about these levels..
255.9. ipo share |   Link |  Bookmark |February 27, 2023 10:31:58 AM
IPO Guru IPO Guru (1500+ Posts, 700+ Likes)
@Kapz
Even after regular good news, Chaman is struggling to hold level of 50. Hope your prediction on Earthsthal comes true. ๐Ÿ‘๐Ÿ™
254. Medha |   Link |  Bookmark |February 22, 2023 1:00:36 PM
Dear ipo aspire sir and m ravi sir, all e tech is continually on downtrend. Will it shoot up in 3 to 4 months and also your long term view on it.
253. POLARSTAR |   Link |  Bookmark |February 20, 2023 10:54:43 AM
Iska IPO BASE ban chuka hai ๐Ÿ˜…๐Ÿ“ˆshayad
253.1. Saurabh Someshwar Jogi |   Link |  Bookmark |February 20, 2023 11:04:04 AM
IPO Mentor IPO Mentor (800+ Posts, 800+ Likes)
Good companies eventually go up only.
253.2. POLARSTAR |   Link |  Bookmark |February 20, 2023 12:55:57 PM
๐Ÿ‘@SSJ
252. POLARSTAR |   Link |  Bookmark |February 17, 2023 8:12:00 PM
How to interpret these bulk deals?๐Ÿค”๐Ÿค”๐Ÿค” Experts please share your view ๐Ÿ™๐Ÿ™๐Ÿ™๐Ÿ™
251. ipo share |   Link |  Bookmark |February 17, 2023 6:30:38 PM
IPO Guru IPO Guru (1500+ Posts, 700+ Likes)
Bulk Deals today:-
1. Multiplier Share & Stock Advisors Sold 75,000 shares @59.52 (bought yesterday).
2. Shukkoor Jaseela Bought 81,000 shares @60.82.
251.1. Jonsnow |   Link |  Bookmark |February 17, 2023 7:34:38 PM (300+ Posts)
@ipo share....sir can u guide why are they buying at higher price and then offloading at lower price?
250. Saurabh Someshwar Jogi |   Link |  Bookmark |February 17, 2023 4:46:50 PM
IPO Mentor IPO Mentor (800+ Posts, 800+ Likes)
@MRavichandran sir!
13 feb bulk deal of 69000 shares by anand Purushottam laddha.
Is he relative of one of the promoters??
As they have same surname
Maybe he has some inside news thats why he bought shares in bulk.
250.2. MRavichandran |   Link |  Bookmark |February 18, 2023 1:06:10 PM
IPO Guru IPO Guru (2000+ Posts, 2700+ Likes)
@Saurabh Someshwar Jogi,
Mr. Anand Purushottamdas laddha, who indeed bought 69,000 shares of Earth at 66.75 on 13 Feb.
However, he did not appear in any other bulk deals in any sme, as per my search and looks new to the SME bulk deals.

Hence, its possible as you said, Mr. Anand could be a relative to Mr. Ravi Laddha, then its really a positive news.

Thanks
250.3. Saurabh Someshwar Jogi |   Link |  Bookmark |February 19, 2023 5:35:00 PM
IPO Mentor IPO Mentor (800+ Posts, 800+ Likes)
This share is going to blast very soon.....
249. Jonsnow |   Link |  Bookmark |February 17, 2023 2:06:58 PM (300+ Posts)
Earthstahl following the the path of chaman...
249.1. Saurabh Someshwar Jogi |   Link |  Bookmark |February 17, 2023 3:58:06 PM
IPO Mentor IPO Mentor (800+ Posts, 800+ Likes)
Don't worry
Fundamentals are very good.
This will eventually go up.
248. SMELearner |   Link |  Bookmark |February 16, 2023 8:04:57 PM
Dear Mravi sir and all experts,
I need some guidance on sme stock. I am a retail investor and I used to buy good stocks post listing. 40-50k profit is very significant for me.. however, any share let say bought 3k shares at 60, when cross 75-80k, i get excited and even if small fall in price makes me worry and sell the shares, which later turns out to be a good upward journey.. so what strategy i can use to keep a stop loss and stay invested in sme..
248.4. JAI JAI GARVI GUJARAT |   Link |  Bookmark |February 17, 2023 10:26:03 AM
IPO Mentor IPO Mentor (800+ Posts, 300+ Likes)
@sprint & @MRavichandran
Thank you for sharing this knowledge ๐Ÿ™‡โ€โ™‚๏ธ
'Learnt a good thing today๐Ÿ˜„'
&
@SMELearner thanks for asking this question
Beneficial for small retailer like me & many from this CG forum๐Ÿ™๐Ÿ‘๐Ÿซก
248.5. SMELearner |   Link |  Bookmark |February 17, 2023 10:58:17 AM
@sprint, Thanks a lot for the elaborative answer with clear cut way to deal in SMEs. Learnt a lot.!

@MRavi sir, Grateful to receive your reply. Will definitely consider the advice and invest wisely. We consider you as the trust-builder in any stock for small retailers like me.. keep posting keep motivating!๐Ÿค—

@JJGG, cheers bhai !
247. ipo share |   Link |  Bookmark |February 16, 2023 7:39:27 PM
IPO Guru IPO Guru (1500+ Posts, 700+ Likes)
Following Bulk Deals reported @BSE:-
1. PRANALVINODBHAIRABADIYA Sold 96,000 shares @57.32
2. MULTIPLIER SHARE & STOCK ADVISORS Bought 75,000 shares @57.30.