The Kalana Ispat IPO is set to open on September 19, 2024, and will close on September 23, 2024. This is a Fixed Price Issue aiming to raise approximately ₹32.59 crores, which includes a fresh issue of ₹32.59 crores and an offer for sale of up to [.] equity shares, each with a face value of ₹10.
The price band for the Kalana Ispat IPO is ₹66 per share. The allocation is structured as follows: 50% for retail investors, 0% for Qualified Institutional Buyers (QIBs), and 50% for High Net-Worth Individuals (HNIs). The shares are expected to be listed on the NSE on September 26, 2024, with the allotment date scheduled for September 24, 2024.
In its latest financial report, the company reported revenue of ₹73.94 crores in 2024, compared to ₹83.36 crores in 2023. Additionally, it posted a profit of ₹2.37 crores in 2024, up from ₹0.50 crores in 2023. Based on these financials, long-term investors may find the IPO appealing.
Objects of the Issue:
Capital expenditure for the installation of a 4 MW DC and a 3.5 MW AC ground-mounted solar power plant (TPSAT structure).
Capital expenditure for establishing a rolling mill at Survey No. 4/1, Taluka Sanand, Mouje Kala village, Ahmedabad, including the construction of an industrial shed and the purchase of equipment, machinery, and other assets.
General corporate purposes.
Kalana Ispat IPO Details
| IPO Open Date: | September 19, 2024 |
| IPO Close Date: | September 23, 2024 |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹66 Per Share |
| Issue Size: | Approx ₹32.59 Crores |
| Fresh Issue: | Approx ₹32.59 Crores |
| Offer for Sale: | Approx [.] Equity Shares |
| Issue Type: | Fixed Price Issue |
| IPO Listing: | NSE SME |
| Retail Quota: | Not more than 50% |
| QIB Quota: | Not more than 00% |
| NII Quota: | Not more than 50% |
Kalana Ispat IPO Market Lot:
The minimum market lot for the Kalana Ispat IPO is 2,000 shares, requiring a total application amount of ₹132,000.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 2000 | ₹ 1,32,000 |
| Retail Maximum | 1 | 2000 | ₹ 1,32,000 |
| HNI Minimum | 2 | 4000 | ₹ 2,64,000 |
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Kalana Ispat IPO Dates:
The Kalana Ispat IPO will open on September 19 and close on September 23. Allotment will be finalized on September 24, with the listing scheduled for September 26.
| IPO Open Date: | September 19, 2024 |
| IPO Close Date: | September 23, 2024 |
| Basis of Allotment: | September 24, 2024 |
| Refunds: | September 25, 2024 |
| Credit to Demat Account: | September 25, 2024 |
| IPO Listing Date: | September 26, 2024 |
Promoters of Kalana Ispat IPO:
The promoters of Kalana Ispat are Mr. Aftabhusen S. Khandwawala, Mr. Varghese Joseph Pottakerry, Mr. Gurubaxsing Jamiatsing Bagga, and Mr. Sadik Nannabhai Qureshi.
About Kalana Ispat IPO:
Kalana Ispat Limited, established in 2012 as Kalana Ispat Pvt Ltd, began its journey under the leadership of Mr. Varghese Joseph Pottakerry and Mr. Aftab S. Khandwawala. Initially focused on trading metal scrap sourced through imports, shipbreaking yards, and local merchants, the company shifted to manufacturing M.S. Billets, setting up a manufacturing unit in Ahmedabad, Gujarat, in 2015.
Today, Kalana Ispat is recognized as a trusted supplier in the industry, catering to prominent producers who value the quality of their M.S. Billets. The company’s commitment to quality and its long-standing reputation have been key to its success and enduring relationships with valued customers.
Kalana Ispat IPO Financial Report:
In 2024, the company reported revenue of ₹73.95 crores, down from ₹83.36 crores in 2023. It also recorded a profit of ₹2.37 crores in 2024, compared to ₹0.50 crores the previous year.
Amount in Crores
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
| 2021 | ₹ 42.98 | ₹ 42.75 | ₹ 0.14 | ₹ 13.31 |
| 2022 | ₹ 57.93 | ₹ 57.74 | ₹ 0.14 | ₹ 12.65 |
| 2023 | ₹ 83.36 | ₹ 82.68 | ₹ 0.50 | ₹ 16.17 |
| 2024 | ₹ 73.94 | ₹ 70.69 | ₹ 2.37 | ₹ 18.86 |
Kalana Ispat IPO Valuation – FY2024
Check Kalana Ispat IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 31.12% |
| ROCE: | 21.20% |
| EBITDA Margin: | 4.95% |
| PAT Margin: | 3.21% |
| Debt to equity ratio: | 0.43 |
| Earning Per Share (EPS): | ₹3.03 (Basic) |
| Price/Earning P/E Ratio: | 21.75 |
| Return on Net Worth (RoNW): | 21.88% |
| Net Asset Value (NAV): | ₹ 13.87 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Supershakti Metaliks Limited | 11.63 | 31.43 | 5.36% | 217.13 | 731.41 Cr. |
Kalana Ispat IPO Registrar:
- Skyline Financial Services Private Ltd
- Phone: 02228511022
- Email: ipo@skylinerta.com
- Website: skylinerta.com
IPO Lead Managers (Merchant Bankers):
Jawa Capital Services Private Limited
Company Address:
- Kalana Ispat Limited
- 504, Ashwamegh Avenue,
- 5th Floor, Near Mithakhali Underbridge,
- Mithakhali, Ahmedabad – 380009
- Phone: +91-81418 48159
- Email: compliance@kalanaispat.com
- Website: kalanaispat.com
Kalana Ispat IPO FAQs:
What is Kalana Ispat IPO?
Kalana Ispat IPO is an SME IPO aimed at raising ₹32.59 crores. The issue is priced at ₹66 per equity share and will be listed on the NSE.
When will Kalana Ispat IPO open for subscription?
The IPO will open on September 19, 2024, for QIB, NII, and retail investors, and will close on September 23, 2024.
What is the investor portion for Kalana Ispat IPO?
The allocation is 0% for QIBs, 50% for NIIs, and 50% for retail investors.
How to apply for the Kalana Ispat IPO?
You can apply for the Kalana Ispat IPO online through ASBA via your bank account, or through UPI with your stockbroker. Alternatively, you can fill out an offline form through your stockbroker.
What is the Kalana Ispat IPO issue size?
The issue size is ₹32.59 crores.
What is the Kalana Ispat IPO price band?
The price band for the IPO is set at ₹66 per share.