NewMalayalam Steel
Listed
Listed
IPO Timeline
Issue open date
19 Dec 2024Issue close date
23 Dec 2024UPI mandate deadline
23 Dec 2024Allotment finalization
24 Dec 2024Refund initiation
26 Dec 2024Share credit
26 Dec 2024Listing date
27 Dec 2024Mandate end date
7 Jan 2025Lock-in end date for anchor investors (50%)
23 Jan 2025Lock-in end date for anchor investors (remaining)
24 Mar 2025Key Dates
Open
19 Dec 2024Close
23 Dec 2024Listing
27 Dec 2024Quick Stats
Issue Size:42cr
Lot Size:1600 shares
About the Company
Incorporated in 2017, NewMalayalam Steel manufactures galvanized pipes, tubes, and sheets, primarily serving households and the construction industry in Kerala. In 2018, the company began production with a 3,500 MT electric resistance welding (ERW) tube mill, later expanding its capacity by 4,000 MT in 2019 to meet growing demand. Galvanized products are popular for their rust-free durability, heat resistance, and leakage prevention, addressing Kerala’s weather challenges. Additionally, products are sold to a Promoter Group entity, Jaihind Steel Private Limited, for further distribution.
Strengths
- Wide distribution network across multiple retail channels.
- Diversified product basket for various industrial uses.
- Strong brand recall and proven track record.
- Established relationships with clients and suppliers.
- High-quality products with strict quality control measures.
- Strategically located, cost-efficient manufacturing facilities.
- Experienced management with strong project execution skills
Risks
- Heavy dependence on dealers for revenue generation.
- Geographical concentration of operations in Kerala.
- The cyclical nature of the steel industry impacts profitability.
- Failure to implement expansion and diversification strategies.
- Financial risks from defaults in loan repayments.
- Risk of disruption from hazardous manufacturing processes.
- Lack of an independent agency to monitor fund usage.
NewMalayalam Steel IPO – Frequently Asked Questions
- The price band for the NewMalayalam Steel IPO is set at ₹85 to ₹90 per share.
- The NewMalayalam Steel IPO opens on December 19, 2024 and closes on December 23, 2024.
- The tentative listing date for the NewMalayalam Steel IPO is December 27, 2024.
- You can apply for the NewMalayalam Steel IPO via your broker or bank using ASBA or UPI. Log in to your trading app (Zerodha, Upstox, Groww, etc.), select IPO section, choose NewMalayalam Steel, enter lot quantity and UPI ID, then approve the mandate.
- The lot size for the NewMalayalam Steel IPO is 1600 shares. Investors must apply for at least one lot (i.e., 1600 shares).