NewMalayalam Steel Limited manufactures galvanised pipes, tubes, and sheets. The company has an electric resistance welding tube mill with an installed capacity of 3,500 MT in a manufacturing unit in Kerala, India.
The company's clients are Jaihind Steel Private Limited, Aashico Ventures LLP, George Infra Private Limited and others. The products' reputation and quality have helped Newmalayalam Steel Limited establish brand equity in the products marketed under the brand name "Demac Steel".
Incorporated in 2017, the company took over the entire M/s business. Demac Steel, along with its assets and liabilities, is on a going concern basis (the "Transfer").
Competitive Strengths:
- Widespread distribution network and presence across various retail channels.
- Diversified Product Basket.
- Brand recall and established track record.
- Existing client and supplier relationships.
- Quality Assurance and Quality Control of the products.
- Strategically located manufacturing facilities with modern infrastructure and integrated manufacturing facilities with a core focus on quality.
- Cost-efficient sourcing and locational advantage.
| Purpose | Amount (₹ Cr) |
|---|---|
| IT / Technological Upgradation of existing manufacturing facility | — |
| Expansion of the existing solar facility for power generation | — |
| Funding of expenditure towards civil construction of new factory shed cum storage facility within the existing factory premises situated at Kerala. | — |
| Advertising, Marketing and Brand Building | — |
| Funding incremental working capital requirements of the Company | — |
| Issue related expenses | — |
| General Corporate purposes | — |
| Metric | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Total Assets | 11,033 | 11,208 | 8,735 |
| Revenue | 15,534 | 30,315 | 35,996 |
| PAT | 519 | 427 | 600 |
| Net Worth | 4,566 | 4,047 | 3,620 |
| Reserves | 3,302 | 2,782 | 2,356 |
| Total Borrowing | 3,918 | 5,911 | 2,815 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | — | 441,600 (10%) | — |
| NII / HNI | — | 1,980,800 (43%) | — |
| Retail (RII) | — | 1,984,000 (43%) | — |
| Market Maker | — | 233,600 (5%) | — |
| Total | — | 4,640,000 (100%) | — |
* Amount calculated at upper price band (₹90) · ** Total includes all investor categories
- 1 Initiation of Refund 26 Dec 2024
- 2 Credit of Shares to Demat 26 Dec 2024
- Retail allocation is good at 43% of the total offering.
- HNI/NII demand is strong at 43%.
- Institutional (QIB) interest is good at 10%.
- The IPO P/E of 15x reflects a strong valuation relative to typical market ranges.
- Pre-issue EPS of ₹3 compares to post-issue EPS of ₹6 after dilution.
This IPO shows moderate investor interest. Review financial details and compare valuation with industry peers before investing.
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