The Kalana Ispat IPO is a fixed-price offering worth ₹32.59 crore, consisting entirely of a fresh issue of 49.38 lakh shares. The subscription period opens on September 19, 2024, and closes on September 23, 2024. The allotment is expected to be finalized on Tuesday, September 24, 2024, with a tentative listing on the NSE SME on Thursday, September 26, 2024.
The IPO is priced at ₹66 per share, with a minimum lot size of 2,000 shares. Retail investors need to invest at least ₹132,000, while HNIs must invest in a minimum of 2 lots (4,000 shares), totaling ₹264,000.
Jawa Capital Services Private Limited is the book-running lead manager, and Skyline Financial Services Private Ltd is the registrar. Aftertrade Broking is the market maker for the IPO.
Below are the details of Kalana Ispat Limited IPO Details, Timeline, Lot Size, Anchor Investor, and Promoter Holding.
Track All IPOs opening and closing today on our comprehensive list of IPO Watchlist 2024!
Kalana Ispat IPO Details
| IPO Date | September 19, 2024 to September 23, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹66 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 4,938,000 shares (aggregating up to ₹32.59 Cr) |
| Fresh Issue | 4,938,000 shares (aggregating up to ₹32.59 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 8,101,185 |
| Share holding post issue | 13,041,985 |
| Market Maker portion | 248,000 shares |
Kalana Ispat IPO Timeline
| IPO Open Date | Thursday, September 19, 2024 |
| IPO Close Date | Monday, September 23, 2024 |
| Basis of Allotment | Tuesday, September 24, 2024 |
| Initiation of Refunds | Wednesday, September 25, 2024 |
| Credit of Shares to Demat | Wednesday, September 25, 2024 |
| Listing Date | Thursday, September 26, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 23, 2024 |
Kalana Ispat Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹132,000 |
| Retail (Max) | 1 | 2000 | ₹132,000 |
| HNI (Min) | 2 | 4,000 | ₹264,000 |
Kalana Ispat Limited IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the Net Issue |
| Other Shares Offered | 50% of the Net Issue |
Kalana Ispat Limited IPO Financial Information
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 | ||||||||||||||||||||||||||||||||||||
| Assets | 1,885.71 | 1,617.46 | 1,264.89 | 1,330.7 | ||||||||||||||||||||||||||||||||||||
| Revenue | 7,394.46 | 8,335.87 | 5,793.32 | 4,298.06 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 236.7 | 50.09 | 13.66 | 13.62 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 1,081.58 | 441.94 | 391.65 | 376.19 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 271.46 | 339.7 | 289.61 | 275.95 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 461.38 | 861.79 | 260.57 | 262.93 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||||||||||||
Kalana Ispat Limited IPO Review
Kalana Ispat Ltd. (KIL) operates in the manufacturing and trading of metal products, specifically M.S. Billets and Alloy Steel Billets. With a diverse revenue stream from both product sales and job work services, KIL has shown modest financial growth from FY21 to FY23, followed by significant profits in FY24 ahead of its IPO, raising sustainability concerns.
The IPO will raise ₹32.59 crore, with proceeds mainly directed toward solar power projects and a new rolling mill. While priced aggressively with a P/E of 36.26 (FY24), informed investors with a long-term horizon may consider allocating funds cautiously, given its future growth potential and sector competitiveness.