Incorporated in 2009, Ashoka Metcast Limited is Ahmedabad Gujrat-based company engaged in trading of structural steel products such as Round Bars, Flat Bars etc. Company is proposing to manufacture structural steel products like TMT bars, angles, channels, MS Bars etc.
Ashoka Metcast Limited is part of a diversified business group with business interests in various sectors including Oil and Gas, Steel, Infrastructure, Electronic Equipments and Real Estate. Its flagship Group Company - Gujarat Natural Resources Limited is engaged in the business of Oil & Gas exploration and production and currently has participating interests in 6 producing blocks in Cambay basin and is operator in four of these blocks. The company is listed on BSE and has a market capitalisation of around 125 crores.
| Purpose | Amount (₹ Cr) |
|---|---|
| 1 Investment in subsidiary company – SGRMPL for funding capital expenditure requirements in relation to revival and modernisation of existing manufacturing facility at Kadi, Gujarat and working capital requirements | ₹7 |
| 2 Repayment of loans | ₹2 |
| 3 Funding expenditure for General Corporate Purposes | ₹2 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| NII / HNI | — | 2,844,000 (47%) | — |
| Retail (RII) | — | 2,844,000 (47%) | — |
| Market Maker | — | 312,000 (5%) | — |
| Total | — | 6,000,000 (100%) | — |
* Amount calculated at upper price band (₹20) · ** Total includes all investor categories
- Retail allocation is strong at 47% of the total offering.
- HNI/NII demand is strong at 47%.
This IPO shows strong fundamentals and healthy investor demand. Research the business model and compare with sector peers before applying.
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