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.
| Purpose | Amount (₹ Cr) |
|---|---|
| 1 Funding working capital requirements of the Company | ₹9 |
| 2 General Corporate Purpose | ₹3 |
| Metric | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 |
|---|---|---|---|
| Total Assets | 3,528 | 2,836 | 2,298 |
| Revenue | 10,080 | 7,670 | 6,846 |
| PAT | 172 | 100 | 110 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| NII / HNI | — | 1,178,000 (47%) | — |
| Retail (RII) | — | 1,180,000 (48%) | — |
| Market Maker | — | 126,000 (5%) | — |
| Total | — | 2,484,000 (100%) | — |
* Amount calculated at upper price band (₹52) · ** Total includes all investor categories
- Retail allocation is strong at 48% 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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