Electrosteel Steels Ltd. IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | — | 155,606,170 (60%) | — | ₹17,117 Cr |
| NII (HNI) | — | 155,606,170 (60%) | — | ₹17,117 Cr |
| Retail | — | 77,803,084 (30%) | — | ₹8,558 Cr |
| Σ Total | — | 259,343,616 (100%) | — | ₹285,278 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 600 | ₹6,600 |
| Retail (Max) | 13 | 7,800 | ₹85,800 |
| S-HNI (Min) | 14 | 8,400 | ₹92,400 |
| B-HNI (Min) | 67 | 40,200 | ₹442,200 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- 1 To part finance the construction of Integrated Steel and D.I. pipe plant having a capacity of 2.2 MTPA in Jharkhand, India – 249.23
- 2 Margin money towards Bank Guarantees – 22.00
- 3 General Corporate Purposes – 145.49
Company Overview
Incorporated in 2006, Electrosteel Integrated Ltd, promoted by Electrosteel Castings Ltd (ECL) is to setup a 2.2 MTPA Integrated Steel and Ductile Iron Spun Pipes project in Jharkhand, India. ECL has obtained mining blocks of iron ore and coking coal in the state of Jharkhand and has set up EIL for implementing the integrated steel and DI pipe plant.
ECL is in the business of manufacturing Cast Iron pipes for over four decades and Ductile Iron Spun Pipes. EIL are setting up the proposed plant near Siyaljori village in Bokaro District of Jharkhand. The proposed plant will be based on Blast Furnace (BF) - Basic Oxygen Furnace (BOF) - Billet Caster and Hot Rolling Route and will produce 1.2 MTPA of long steel products, comprising 0.5 MTPA of 5.5-12.0 mm diameter wire rods in coil form and 0.7 MTPA of reinforcement bars in straight lengths and bundled in the range of 8-32 mm and plain rounds upto 60mm diameter. The plant will have a 0.33 MTPA DI pipe production facility in the same complex and will be provided with hot metal from the Blast Furnaces. The plant will also have production facilities for 0.27 MTPA of Commercial Billets and 0.40 MTPA of Pig Iron.
Company has acquired approximately 1,723.44 acres of land for the proposed plant, taking into account the scope for future expansion. The area of land for the proposed plant is approximately 600 acres with another 20-300 acres of land that would be required for construction of storage space for materials.