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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.

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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

IPO Opening Date Jan 25, 2019
IPO Closing Date Jan 29, 2019
Issue Type Book Built Issue IPO
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
Issue Size2,484,000 Eq Shares of ₹10
(aggregating up to ₹12.92 Cr)
Fresh Issue2,484,000 Eq Shares of ₹10
(aggregating up to ₹[.] Cr)

Surani Steel IPO Lot Size

The Surani Steel IPO market lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹104,000).

Application Lots Shares Amount (Cut-off)
Minimum 1 2000 ₹104,000
Maximum 1 2000 ₹104,000

Surani Steel IPO Promoter Holding

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

Surani Steel IPO Review

Company has posted growth in top lines but bottom line has shown inconsistency. Considering exorbitant pricing of the issue, there is no harm in giving it a miss as better options are available in the secondary markets.

Read detail review...

Surani Steel IPO Subscription Status (Bidding Detail)

The Surani Steel IPO is subscribed 1.55 times on 1/29/2019 6:00:00 PM. The public issue subscribed 1.23 times in the retail category, times in the QIB category, and 1.70 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
NII1.70
Retail1.23
Total1.55

Surani Steel IPO Prospectus

Surani Steel IPO Rating

65
4.0
Rating:Rated 4.0 stars
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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
IPO Price ₹52 per equity share
Face Value ₹10 per equity share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
NSE SME
IPO Price: ₹52.00
Open: ₹53.10
Low: ₹50.45
High: ₹53.25
Last Trade: ₹53.25

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

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

Surani Steel IPO Reviews / Ratings

Surani Steel IPO FAQs

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 is priced at ₹51 to ₹52 per equity share. The minimum order quantity is 2000 Shares.

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 lot size is 2000 Shares and the minimum order quantity is 2000 Shares.

You can apply in Surani Steel 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, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

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.

The Surani Steel IPO listing date is on Wednesday, February 6, 2019.

Surani Steel IPO Message Board

Ranked Members  Ranked Members

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130 Comments

71. Loss investor |Feb 11, 2019 1:31:31 PM
This message has been removed by a moderator.
71.1. Small Investor |Feb 12, 2019 10:55:34 AM
IPO Guru IPO Guru (1500+ Posts, 800+ Likes)
Now LC ab buy kr lo
lalach buri blla h Mr.
70. Small Investor |Feb 8, 2019 3:18:09 PM
IPO Guru IPO Guru (1500+ Posts, 800+ Likes)
Surani hit UC @ Jat Boy
70.2. Small Investor |Feb 11, 2019 11:02:27 AM
IPO Guru IPO Guru (1500+ Posts, 800+ Likes)
Dear Loss Investor
Challat hotel long term stock h not short term
70.3. Small Investor |Feb 11, 2019 11:03:35 AM
IPO Guru IPO Guru (1500+ Posts, 800+ 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 10:51:15 AM
IPO Guru IPO Guru (1400+ Posts, 1100+ Likes)
Operator superbly bought all weak hand holding shares. I think it will move upwords in coming days.
69.1. RAJAKUMAR |Feb 9, 2019 10:19:12 AM
IPO Guru IPO Guru (1400+ Posts, 1100+ Likes)
As expected it moving upwords
68. smeanalysts |Feb 8, 2019 9:29:05 AM
This will now go Like innovators ideal share
68.2. smeanalysts |Feb 8, 2019 2:51:05 PM
Hold it Deccan. Almost debt free company. will not disappoint.
68.3. uday patel |Feb 8, 2019 3:23:04 PM
Yes it will be another Innovative, OR at-least Dangee-Dums.
His Buying pattern exactly match Innovative.
67. Loss investor |Feb 7, 2019 3:34:22 PM
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 ????????
67.5. Small Investor |Feb 7, 2019 9:15:23 PM
IPO Guru IPO Guru (1500+ Posts, 800+ 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 9:26:28 PM
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 9:24:20 PM
Top Contributor Top Contributor (400+ Posts, 200+ Likes)
Earlier told you in morning exit stock. Or wait to book heavy loss.
66.1. Loss investor |Feb 7, 2019 4:45:09 PM
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 12:21:24 PM
Any one here... Kya kerna h. ......jitne Tak jayega??? Nikle Kya??
64. RT |Feb 6, 2019 12:22:57 PM
Surani mein lagta hai lower Sunami aane wali hai.
Sabke estimate fail.
64.2. Small Investor |Feb 6, 2019 1:05:04 PM
IPO Guru IPO Guru (1500+ Posts, 800+ Likes)
at that time promoters holding near 36% ,so in future promoters will buy this stock
64.3. RT |Feb 6, 2019 3:27:23 PM
Why promoters will by ? They have put out IPO for gaining.
63. Loss investor |Feb 6, 2019 3:02:11 PM
Tees maar Khan walo ne to sold ker Diya ???? Loss Wala waiting.... Kab niklna h.....koi acha jankar h ????
62. RAJAKUMAR |Feb 6, 2019 10:22:47 AM
IPO Guru IPO Guru (1400+ Posts, 1100+ Likes)
Dear Small
Sold another lot at lower circuit
62.1. Logical Investor |Feb 6, 2019 2:29:06 PM
Kyu bhai?? Market ke logo ko to pata hona chahiye ye kya hua..
61. traderji |Feb 6, 2019 10:22:26 AM
how is it possible to sell 100 quantity someone put order of 100 quantity.....
61.1. Logical Investor |Feb 6, 2019 2:27:28 PM
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 2:25:26 PM
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 11:49:05 AM
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 2:18:10 PM
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 12:09:35 PM
Symbol kya hai.. Pls.
58.1. Small Investor |Feb 6, 2019 12:21:11 PM
IPO Guru IPO Guru (1500+ Posts, 800+ Likes)
surani on nse sme
57. Dinesh Singh |Feb 6, 2019 11:19:40 AM
IPO Mentor IPO Mentor (500+ Posts, 100+ Likes)
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 11:22:08 AM
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 11:42:11 AM
IPO Guru IPO Guru (1500+ Posts, 800+ 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 10:47:40 AM
IPO Guru IPO Guru (1400+ Posts, 1100+ Likes)
Dear Small
Last lot sold at 52.
Now fingers crossed, how Ritco listing will happen
56.1. Small Investor |Feb 6, 2019 10:55:59 AM
IPO Guru IPO Guru (1500+ Posts, 800+ Likes)
i sold my Lot @ 53
Unexpected Listing
56.2. Small Investor |Feb 6, 2019 11:04:25 AM
IPO Guru IPO Guru (1500+ Posts, 800+ Likes)
i think this stock will Upside
55. Loss investor |Feb 6, 2019 10:42:40 AM
Kuch bola Kya kerna hai ????? Loss always loss???
54. RAJAKUMAR |Feb 6, 2019 9:52:25 AM
IPO Guru IPO Guru (1400+ Posts, 1100+ 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 9:48:47 AM
53.10 Kya kerna h bhaio ????
52. DOWNEY |Feb 6, 2019 9:46:49 AM
Hold for today target 55+