Surani Steel Tubes Limited IPO (Surani Steel IPO) Detail

Jan 25, 2019 - Jan 29, 2019

Incorporated in 2012, Gujarat based Surani Steel Tubes Limited is a company engaged in the business of manufacturing of Electric Resistance Welding Mild Steel ("ERW MS") Pipes. The company's products are used in many industries like Architectural, Infrastructural, Industrial and Engineering etc. Surani majorly relies on its dealer network to sell its products. As on March 31, 2018, it has arrangements/understanding with more than 300 dealers spread across Gujarat. Selling of scraps also contributes to its revenue.

Surani Steel is ISO 9001: 2015 certified for manufacturing and Supply of ERW pipes. The company's manufacturing plant is located at Dahegam, Gandhinagar in Gujarat. The plant has installed capacity of 25,000 MT p.a. Surani is setting up a new manufacturing facility at Dahegam, Gandhinagar to increase its product range.

The company has 52 employees on its payroll across various functions.

Company Promoters:

The promoters of the company are Mukesh Patel, Dinesh Patel, Karshan Patel, Prakash Patel, Mani Patel, Prakash Karsanbhai Patel HUF and Karsanbhai Devjibhai Patel HUF. They hold, in aggregate 20,95,000 Equity Shares representing 36.12% of the pre-issue paid-up share capital of the Company.

Company Financials:

Summary of financial Information (Restated)
Particulars	For the year/period ended (in Rs. Lakhs)
	31-Mar-18	31-Mar-17	31-Mar-16	31-Mar-15	31-Mar-14
Total Assets	3,528.36	2,836.35	2,298.30	1,594.83	1,541.34
Total Revenue	10,079.72	7,670.08	6,845.89	5,814.16	3,599.92
Profit After Tax	172.44	99.90	109.60	16.25	(2.99)

Objects of the Issue:

The objects of the Issue are-

1. Funding the working capital requirements of the company
2. General Corporate Purposes

Surani Steel IPO Details

Issue Open	Jan 25, 2019 - Jan 29, 2019
Issue Type	Book Built Issue IPO
Issue Size	2,484,000 Eq Shares of Rs 10 (aggregating up to Rs 12.92 Cr)
Fresh Issue	2,484,000 Eq Shares of Rs 10 (aggregating up to Rs [.] Cr)
Face Value	Rs 10 Per Equity Share
Issue Price	Rs 51 - Rs 52 Per Equity Share
Market Lot	2000 Shares
Min Order Quantity	2000 Shares
Listing At	NSE SME

Surani Steel IPO Promoter Holding

Pre Issue Share Holding	20,95,000 Shares (36.12%)
Post Issue Share Holding

Surani Steel IPO Subscription Status (Bidding Detail)

Surani Steel IPO how much subscribed?
	No. of Times Issue Subscribed (BSE + NSE)
As on Date & Time	NII	RII	Total
Shares Offered	1,242,000	1,242,000	2,358,000
Jan 29, 2019 18:00	1.70x	1.23x	1.55x

Surani Steel IPO Prospectus

› Draft Prospectus
› Red Herring Prospectus

Surani Steel IPO Rating

4.0

Rating:

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Surani Steel IPO Listing Date

Listing Date	Wednesday, February 6, 2019
BSE Script Code
NSE Symbol	SURANI
Listing In
ISIN	INE01ZJ01015
Issue Price	Rs 52 Per Equity Share
Face Value	Rs 10 Per Equity Share

Listing Day Trading Information

.
Issue Price
Open
Low
High
Last Trade
Volume

	NSE SME
Issue Price:	Rs 52.00
Open:	Rs 53.10
Low:	Rs 50.45
High:	Rs 53.25
Last Trade:	Rs 53.25
Volume:	12,000

Surani Steel IPO Reviews / Ratings

Dilip Davda - Avoid

Company Contact Information

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

Phone: +91 9825515372
Email: cs@suranisteel.com
Website: http://www.suranisteel.com/

Surani Steel IPO Registrar

Link Intime India Private Ltd
   Link Intime India Private Ltd
   C 101, 247 Park, L.B.S.Marg,
   Vikhroli (West), Mumbai - 400083

Phone: +91-22-4918 6270
Email: suranisteel.ipo@linkintime.co.in
Website: http://www.linkintime.co.in

Surani Steel IPO Lead Manager(s)

Pantomath Capital Advisors Pvt Ltd

Lead Manager Reports

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Useful Articles

Surani Steel IPO Review / Comments

71. Loss investor Feb 11, 2019 12:31

This message has been removed by a moderator.

71.1. Small Investor Feb 12, 2019 09:55

IPO Mentor (800+ Posts, 300+ Likes)

Now LC ab buy kr lo
lalach buri blla h Mr.

70. Small Investor Feb 8, 2019 14:18

IPO Mentor (800+ Posts, 300+ Likes)

Surani hit UC @ Jat Boy

Load more comments (1 replies)

70.2. Small Investor Feb 11, 2019 10:02

IPO Mentor (800+ Posts, 300+ Likes)

Dear Loss Investor
Challat hotel long term stock h not short term

70.3. Small Investor Feb 11, 2019 10:03

IPO Mentor (800+ Posts, 300+ Likes)

i also sold Surani at 53 on listing day and Ritco buy 69.9
Ritco and Deccan good Stock

69. RAJAKUMAR Feb 6, 2019 09:51

IPO Guru (1100+ Posts, 700+ Likes)

Operator superbly bought all weak hand holding shares. I think it will move upwords in coming days.

69.1. RAJAKUMAR Feb 9, 2019 09:19

IPO Guru (1100+ Posts, 700+ Likes)

As expected it moving upwords

68. smeanalysts Feb 8, 2019 08:29

1 |

This will now go Like innovators ideal share

Load more comments (1 replies)

68.2. smeanalysts Feb 8, 2019 13:51

1 |

Hold it Deccan. Almost debt free company. will not disappoint.

68.3. uday patel Feb 8, 2019 14:23

Yes it will be another Innovative, OR at-least Dangee-Dums.
His Buying pattern exactly match Innovative.

67. Loss investor Feb 7, 2019 14:34

2 saal see sare IPO & sme IPO laga Raha hu . Kabhi profit nhi le paya kyoki .. sell kerna nhi ata...always heavy loss.....90000/-.. 1st time gain 7800 & 55.90 morning mai lagaya thaa...just abhi fully executed ho gya !!

Muje sold kerne ki himmat do abhi portfolio 3 lakh ka pada h 🙄😣

Load more comments (4 replies)

67.5. Small Investor Feb 7, 2019 20:15

IPO Mentor (800+ Posts, 300+ Likes)

Dear Mr.Jat boy jb oswal seeds 33 rupay k aas pass tha tb aapne Kyo nhi becha aap intra day kr skte the aap tension Mt lo abhi operator game play kr rha oswal seeds m

67.6. Loss investor Feb 7, 2019 20:26

Muje share market ka Gyan nhi h.... Maine sites per logo ke comments ko dekhta hu ok

Aree buy price thi.. selling price kbi 27+ gai hi nhi ok esa bhi hota h...kuch seekhne ko Mila.... Abhi 21 seekha Raha h but sell krte h tab 19 deekhata h...........😣😣

66. Hiteshji Feb 6, 2019 20:24

Top Contributor (300+ Posts, 200+ Likes)

Earlier told you in morning exit stock. Or wait to book heavy loss.

66.1. Loss investor Feb 7, 2019 15:45

Jutha.... Ish life mai Teri kabhi koi baat nhi manuga ok

7800 gain ok

Tera comment read kerne see...mind mai darr paida ho gya.... So 55.90 uc per hit ker Diya ok

Tu esi post nhi kerta to... Ek din or ruk jata stupid 😂

65. Loss investor Feb 7, 2019 11:21

Any one here... Kya kerna h. ......jitne Tak jayega??? Nikle Kya??

64. RT Feb 6, 2019 11:22

Surani mein lagta hai lower Sunami aane wali hai.
Sabke estimate fail.

Load more comments (1 replies)

64.2. Small Investor Feb 6, 2019 12:05

IPO Mentor (800+ Posts, 300+ Likes)

at that time promoters holding near 36% ,so in future promoters will buy this stock

64.3. RT Feb 6, 2019 14:27

Why promoters will by ? They have put out IPO for gaining.

63. Loss investor Feb 6, 2019 14:02

Tees maar Khan walo ne to sold ker Diya ???? Loss Wala waiting.... Kab niklna h.....koi acha jankar h 🙏

62. RAJAKUMAR Feb 6, 2019 09:22

IPO Guru (1100+ Posts, 700+ Likes)

Dear Small
Sold another lot at lower circuit

62.1. Logical Investor Feb 6, 2019 13:29

Kyu bhai?? Market ke logo ko to pata hona chahiye ye kya hua..

61. traderji Feb 6, 2019 09:22

how is it possible to sell 100 quantity someone put order of 100 quantity.....

61.1. Logical Investor Feb 6, 2019 13:27

I was able to sell 10 shares also. My broker told it was because of some technical error in NSE.

60. Logical Investor Feb 6, 2019 13:25

Recommendable work by Promoter and LM. Delivered every word they promised. Positive listing and letting actual investors make gain. Also showing actual strength by bringing back price to the level it should be. Hoping to gain few extra thousand. Holding as of now. Let me know if anyone has any other news.

59. smeanalysts Feb 6, 2019 10:49

I am surprised of the flipper whose only intention are to sell on listing day. These type of flipper need to get out of system
I would say it is good that 1st day gain is limited. It should slowly and steadily rise . This will help everyone. Just need patience to be reward. Only due to people who sell on listing cause damage. Once these people panic and get out stocks will start doing well. Hope investor are reward and the flippers not .

59.1. Logical Investor Feb 6, 2019 13:18

You have expressed exactly what I feel. Was hoping a positive listing and got one. Share trading of this range and investor making profit is seen after long long time. Thank You smeanalysts.

58. Adp Feb 6, 2019 11:09

Symbol kya hai.. Pls.

58.1. Small Investor Feb 6, 2019 11:21

IPO Mentor (800+ Posts, 300+ Likes)

surani on nse sme

57. Dinesh Singh Feb 6, 2019 10:19

Top Contributor (200+ Posts)

What a drama in this stock.

First diccover the price at 53.10 traded a while and then gone to lower circuit.

Then bounce back to again at 53.10.

People were confused what to do in this situation.

I think tomorrow it will same in case of Ritco since LM is same.

Not a easy ride nodays.

57.1. smeanalysts Feb 6, 2019 10:22

2 |

This means greedy retailers are out
we dont need flipper retailer in SME. they need to be moved out of system

Stock will rise past 70-80 rs in coming time as weak retailers are out
Just imagine why retailer are only there to sell on listing and not looking at business fundamentals.
we need people who have holding power.
The weak retailer need to get out of system and then stock should rise.

57.2. Small Investor Feb 6, 2019 10:42

IPO Mentor (800+ Posts, 300+ Likes)

Dear SME you are right, About 28% Applications Shares sold out and 1 to 5 days this stock will up-down move if ones time the weak heads got out from this stock then this stock will upside fr target 65 in One Month.i also sold my lot @ 53

jis bande m sayam dhary h wo hold kr sakta h

56. RAJAKUMAR Feb 6, 2019 09:47

IPO Guru (1100+ Posts, 700+ Likes)

Dear Small
Last lot sold at 52.
Now fingers crossed, how Ritco listing will happen

56.1. Small Investor Feb 6, 2019 09:55

IPO Mentor (800+ Posts, 300+ Likes)

i sold my Lot @ 53
Unexpected Listing

56.2. Small Investor Feb 6, 2019 10:04

IPO Mentor (800+ Posts, 300+ Likes)

i think this stock will Upside

55. Loss investor Feb 6, 2019 09:42

Kuch bola Kya kerna hai ????? Loss always loss???

54. RAJAKUMAR Feb 6, 2019 08:52

IPO Guru (1100+ Posts, 700+ Likes)

Dear Small
I booked one lot at 53.10 and holding remaining two lot. Waiting for regular trade to start.

53. Loss investor Feb 6, 2019 08:48

53.10 Kya kerna h bhaio 🙏

52. DOWNEY Feb 6, 2019 08:46

2 |

Hold for today target 55+

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