Newmalayalam Steel IPO allotment today: Here’s how to check status on NSE, Kfin Technologies

Newmalayalam Steel IPO share allotment status is expected to be finalised on Tuesday, December 24, after the public offer closed with a robust demand. The NSE SME issue was open for bidding from December 19 to December 23.

The investors who subscribed to the initial public offering (IPO) of small and medium enterprise (SME) Newmalayalam Steel Ltd are now waiting for the company to finalise the IPO share allotment status.

The ₹41.76-crore Newmalayalam Steel IPO was oversubscribed by 50.73 during the three-day bidding period. According to the NSE data, the IPO received applications for over 22.35 crore shares against 44.06 lakh shares on offer.

The retail investors’ portion saw the highest demand, with the segment reserved for them getting overbooked by 87.7 times. Bids were received for over 17.4 crore shares against 19.84 lakh shares reserved for the category.

The Non-Institutional Investors (NIIs) segment was oversubscribed 24.74 times, with bids received for 4.9 crore shares against 19.8 lakh shares on offer. The Qualified Institutional Buyers’ (QIBs) quota was booked 1.26 times, with bids placed for over 5.58 lakh shares against 4.41 lakh shares on offer for the segment.

If you were one of the investors in the issue, you can check the share allotment status online on the websites of the NSE and the issue registrar, Kfin Technologies Ltd.

• Visit the NSE IPO allotment status page here.
• Log in with a username and password. First-time investors need to register before checking the IPO allotment status on the NSE. The user can then view the details of the bids entered against the registered PAN number.
• From the dropdown menu, select Newmalayalam Steel Ltd.
• Then verify PAN details and enter IPO application number.
• Click on ‘Submit’ to view whether any shares have been allotted against your PAN number.

• Visit the official website at https://ris.kfintech.com/ipostatus/
• Select any one of the five links to view the IPO allotment status.
• In the ‘Select IPO’ dropdown menu, select Newmalayalam Steel Ltd.
• Select whether you want to identify yourself using your IPO application number, Demat account number or PAN and enter the details of the chosen option.
• Complete the Captcha verification and click on ‘Submit’. You will be able to see the allotment details.

Successful bidders can expect the shares of Newmalayalam Steel to be credited into their demat account by December 26, with refunds being initiated for others the same day. The stock is scheduled to be listed on the NSE Emerge platform on December 27.

Newmalayalam Steel IPO details

• The company’s IPO was a 100% book-built issue that aimed to raise ₹41.76 crore.
• It was entirely a fresh issuance of 46.40 lakh shares.
• Newmalayalam Steel had set the price band for the offer at ₹85 to ₹90 per share.
• The lot size for bidding was 1,600 shares.
• Khandwala Securities was the book-running lead manager of the IPO. Aftertrade Broking Pvt. Ltd was the market-maker for the issue.

About Newmalayalam Steel

Newmalayalam Steel Ltd, which operates under the brand name DEMAC Steel, plays a significant role in fostering growth within Kerala’s construction materials sector.

The company operates state-of-the-art facilities, producing a wide range of galvanised steel pipes, GP tubes, and MS tubes and pipes. As a trusted galvanised steel pipe manufacturer, the company caters to the diverse needs of contractors, builders, and homeowners across Kerala. It also provides tailored solutions for various applications in the construction, plumbing, and industrial sectors.

What will the company do with IPO proceeds?

Newmalayalam Steel has proposed to utilise the IPO proceeds for multiple purposes. Of the total funds raised, the company said it would use ₹14.2 crore to fund incremental working capital requirements. The company will also spend ₹2.87 crore on IT and technological upgradation of its existing manufacturing facility.

Newmalayalam Steel has proposed to utilise ₹2.34 crore to expand the existing solar facility for power generation. It will use ₹2.55 crore for expenditure towards civil construction of a new factory shed cum storage facility within the existing factory premises situated in Kerala and spend another ₹5.05 crore on advertising, marketing and brand building.

Newmalayalam Steel IPO: Company financials

Newmalayalam Steel reported revenue from operations of ₹154.21 crore for the six-month period ended September 30, 2024. Profit after tax for the period was ₹5.19 crore.

For full fiscal 2024, the company’s revenue was ₹300.16 crore compared to ₹354.79 crore in fiscal 2023. Profit after tax for FY24 was ₹4.26 crore against ₹6 crore in FY23.

Newmalayalam Steel shareholding pattern

The promoters of Newmalayalam Steel are Vazhappily Davis Varghese, Divyakumar Jain, Ankur Jain, Mahendra Kumar Jain, Molly Varghese and Cyriac Varghese.