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.
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.
| 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) | |
The objects of the Issue are-
1. Funding the working capital requirements of the company
2. General Corporate Purposes
| IPO Date | Jan 25, 2019 - Jan 29, 2019 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 2,484,000 Eq Shares of ₹10 (aggregating up to ₹12.92 Cr) |
| Fresh Issue | 2,484,000 Eq Shares of ₹10 (aggregating up to ₹[.] Cr) |
| Face Value | ₹10 Per Equity Share |
| IPO Price | ₹51 to ₹52 Per Equity Share |
| Market Lot | 2000 Shares |
| Min Order Quantity | 2000 Shares |
| Listing At | NSE SME |
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 2000 | ₹104,000 |
| Maximum | 1 | 2000 | ₹104,000 |
| Pre Issue Share Holding | 20,95,000 Shares (36.12%) |
| Post Issue Share Holding |
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 |
| Listing Date | Wednesday, February 6, 2019 |
| BSE Script Code | |
| NSE Symbol | SURANI |
| Listing In | |
| ISIN | INE01ZJ01015 |
| IPO Price | ₹52 Per Equity Share |
| Face Value | ₹10 Per Equity Share |
|
|
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/
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 is a SME IPO of 2,484,000 equity shares of the face value of ₹10 aggregating up to ₹12.92 Crores.
The issue price of the IPO is ₹51 to ₹52 Per Equity Share. The minimum order quantity is 2000 Shares per application and the offer type is Book Built Issue.
The IPO opens on Jan 25, 2019 and closes on Jan 29, 2019.
Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
The Surani Steel IPO opens on Jan 25, 2019 and closes on Jan 29, 2019.
Surani Steel IPO application can be done through banks using ASBA online or through stock brokers trading account using UPI. All popular banks i.e. HDFC, ICICI, and SBI offer online IPO applications. An investor can also apply directly through their broker (i.e. Zerodha, Sharekhan) using UPI as a payment method.
The finalization of Basis of Allotment for Surani Steel IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Surani Steel IPO allotment status.
Surani Steel IPO lot size is 2000 Shares and the minimum order quantity is 2000 Shares.
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