Kalana Ispat is scheduled to hit the market on September 19, 2024 and close on September 23, 2024. Kalana Ispat plans to raise around ₹32.59 Cr through an IPO with a sale of up to 4,938,000 equity shares of ₹10 each. The Retail offered 50%, Other Shares Offered 50%.
Kalana Ispat Limited, which started in October 2012, mainly makes M.S. Billets and Alloy Steel Billets in different grades. The company operates in two main areas: selling products and providing services. Its manufacturing facility is certified for quality management by international standards, specifically ISO 2830:2012, and can produce up to 38,000 metric tons per year.
The company stands out for its focus on innovation and has a strong history of profitable growth thanks to its scalable business model. It has experienced promoters and dedicated employees, which helps maintain good relationships with customers. As of September 2024, Kalana Ispat Limited has three key management personnel and fifteen permanent employees, along with temporary workers hired based on production needs.
Kalana Ispat IPO Details
Kalana Ispat IPO opens on September 19, 2024, and closes on September 23, 2024. The Listing date for Kalana Ispat IPO is on September 26, 2024. The price band for IPO is ₹66 per share and lot size of 2000 Shares.
| IPO Date | September 19, 2024 to September 23, 2024 |
| Listing Date | September 26, 2024 |
| Price | ₹66 per share |
| Lot Size | 2000 Shares |
| Issue Size | ₹32.59 Cr |
| Face Value | ₹10 per share |
Kalana Ispat IPO Tentative Timetable
Kalana Ispat opening date is September 19, 2024 and close date is September 23, 2024. The IPO allotment date is September 24, 2024. Therefund initiation of IPO is on September 25, 2024. The credit of shares in demat account is on September 25, 2024. The listing date is on September 26, 2024.
| Event | Date |
|---|---|
| IPO Opening | September 19, 2024 |
| IPO Closing | September 23, 2024 |
| IPO Allotment Date | September 24, 2024 |
| Refund Initiation | September 25, 2024 |
| Shares Credit to Demat | September 25, 2024 |
| Lisiting Date | September 26, 2024 |
Kalana Ispat IPO Lot Size
Lot Size of this IPO is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹132,000).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 2000 | ₹132,000 |
| Retail(Maximum) | 1 | 2000 | ₹132,000 |
| HNI (Minimum) | 2 | 4000 | ₹264,000 |
Kalana Ispat IPO Promoter Holding
| Pre Issue Share Holding | 82.72% |
| Post Issue Share Holding | 51.38% |
Kalana Ispat IPO Review
The company is launching its first IPO, offering 4,938,000 equity shares with a face value of Rs. 10 each, at a fixed price of Rs. 66 per share. The company aims to raise Rs. 32.59 crore through this IPO.
On the financial performance front, for the last four fiscals, the company has posted a total income/net profit of Rs. 42.98 cr. / Rs. 0.14 cr. (FY21), Rs. 57.93 cr. / Rs. 0.14 cr. (FY22), Rs. 83.36 cr. / Rs. 0.50 cr. (FY23), and Rs. 73.95 cr. / Rs. 2.37 cr. (FY24).
For the last three fiscals, it has reported an average EPS of Rs. 3.41 and an average RoNW of 15.32%. The issue is priced at a P/BV of 4.76 based on its NAV of Rs. 13.87 as of March 31, 2024, and at a P/BV of 1.94 based on its post-IPO NAV of 34.08 per share.
If we attribute FY24 super earnings to its post-IPO fully diluted paid-up equity capital, then the asking price is at a P/E of 36.26. Based on FY23 earnings, the P/E stands at 169.23. Thus the issue relatively appears aggressively priced. Super performance in a pre-IPO year raises eyebrows and concern over its sustainability, as the company is operating in a highly competitive and fragmented segment.
The company reported PAT margins of 0.32% (FY21), 0.27% (FY22), 0.61% (FY23), 3.21% (FY24), and RoCE margins of 5.38%, 6.31%, 8.33%, 21.20% for the referred periods, respectively.
According to the offer document, the company has mentioned Supershakti Metaliks, Incredible Ind., and Gallantt Ispat as their listed peers. These companies have P/E ratios of 31.7, 33.8, and 29.0 as of September 17, 2024. However, they are not completely comparable in the same way.
The company makes and sells metal products and offers related services. It had very small profits from FY21 to FY23 but made a lot of money in FY24, which is the year before its IPO. This sudden jump in profits has raised concerns about whether it can keep this up. The company's future depends on installing solar power plants. Based on the high earnings in FY24, the stock seems to be priced too high. However, knowledgeable investors might consider investing for the long term.
Kalana Ispat IPO Subscription Status (Bidding Details)
Table not foundKalana Ispat IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Kalana Ispat IPO FAQs
What is Kalana Ispat IPO?
Kalana Ispat is issuing 4,938,000 equity shares with a face value of ₹10 each, totaling up to ₹32.59 Cr. The shares are being offered at a price of ₹66 each, with a minimum order quantity of 2000 shares.
Skyline Financial Services Private Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Kalana Ispat IPO will open?
Kalana Ispat will open on September 19, 2024 for QIB, NII, and Retail Investors.
When Kalana Ispat IPO will end?
Kalana Ispat will end on September 23, 2024.
What is Kalana Ispat IPO Size?
Kalana Ispat IPO size is ₹32.59 Cr.
What is Kalana Ispat IPO Price Band?
Kalana Ispat price band is ₹66 per share.
What is Kalana Ispat IPO Allotment Date?
Kalana Ispat allotment date is September 24, 2024.
What is Kalana Ispat IPO Listing Date?
Kalana Ispat listing date is September 26, 2024. The IPO is to be listed on BSE and NSE.
How to Apply Kalana Ispat IPO through Zerodha?
To apply for the IPO “Kalana Ispat” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Kalana Ispat IPO through Upstox?
To apply for the IPO “Kalana Ispat” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Kalana Ispat IPO Allotment Status?
For Kalana Ispat IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Kalana Ispat IPO GMP?
You can check out here: Kalana Ispat IPO GMP. Check all IPO GMP here.