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Kalana Ispat IPO
Price Band
₹
Issue Size
₹32.59 Cr
Lot Size
2,000 shares
Min Investment
₹132,000
GMP
—
Issue Price
₹66.0
Kalana Ispat IPO AI Summary
- Kalana Ispat IPO is listed on NSE SME in the Iron & Steel Products sector.
- Subscription window: 19 Sep–23 Sep 2024, listing on 26 Sep 2024.
Kalana Ispat Limited is set to enter the market with an IPO priced at ₹66.0 per share. The company has shown significant growth in revenue and profit over the past few years, although it experienced a decline in total income in the latest fiscal year. The funds raised will be directed towards capital expenditures and general corporate purposes.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Kalana Ispat IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 23 Sep 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Kalana Ispat IPO Grey Market Premium (GMP) Today
GMP not available yet
Grey Market Premium is updated daily. Check back closer to the listing date.
About the Company
Incorporated in October 2012, Kalana Ispat Limited is primarily involved in manufacturing M.S. Billets and Alloy Steel Billets of various grades. The company's business can be divided into segments Sale of Products, and Sale of Services. The manufacturing facility has been duly certified by international standards of quality management systems such as ISO 2830:2012. The company's manufacturing unit has an annual capacity of 38000MT/Annum. Competitive Strength Innovation focused business model; Consistent track record of profitable growth due to a scalable business model; Established and proven track record; Experienced Promoters and dedicated employees Enhancing Promoters Experience; and Cordial relations with their customers. As of September 2024, the company has three key management personnel (KMPs) and fifteen employees on its payroll. Additionally, the company arranges for temporary manpower per its production requirements from service agencies.
Company Financials (₹ Cr)
As of 2024-03-31
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 18.86 | 16.17 | 12.65 | 13.31 |
| Total Income | 73.94 | 83.36 | 57.93 | 42.98 |
| Profit After Tax | 2.37 | 0.50 | 0.14 | 0.14 |
| NET Worth | 10.82 | 4.42 | 3.92 | 3.76 |
| Reserves and Surplus | 2.71 | 3.40 | 2.90 | 2.76 |
| Total Borrowing | 4.61 | 8.62 | 2.61 | 2.63 |
Key Ratios
EPS
₹2.92
NAV
₹13.87
ROE
31.12%
ROCE
21.20%
RoNW
21.88%
P/B Value
4.76
P/E Ratio
22.59
Market Cap
₹86.08 Cr
PAT Margin
3.21%
Debt/Equity
0.43
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Gallantt Ispat Limited | 101.57 | 9.19% | 39.83 | 9.34 | 9.34 |
| Incredible Industries Limited | 28.36 | 4.5% | 37.26 | 1.28 | 1.28 |
| Supershakti Metaliks Ltd | 217.13 | 217.13% | 31.43 | 11.63 | 11.63 |
| Kalana Ispat Limited This IPO | 13.87 | 21.88% | 21.75 | 3.03 | 3.03 |
Promoters
Aftabhusen S Khandwawala, Varghese Joseph Pottakerry, Gurubaxsing Jamiatsing Bagga and Sadik Nannabhai Qureshi
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Capital Expenditure for Installation of 4 MW DC & 3.5 MW AC Ground Mounted Solar Power Plant - TPSAT Structure 22.99 2 Capital expenditure for setting up of rolling mill at Survey No. 4/1 Taluka Sanand, Mouje Kala village, Ahmedabad by construction of the industrial shed, purchase of equipment/machineries, other assets etc.; and 7.99 3 General corporate purposes 0.61
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹42.98 Cr in the year ending 31 Mar 2021, rising to ₹57.93 Cr by 31 Mar 2022. It further increased to ₹83.36 Cr in the year ending 31 Mar 2023, though it declined to ₹73.94 Cr by 31 Mar 2024. This last figure is for a full fiscal year, allowing for direct comparison.
Profit Trend
Profit After Tax was ₹0.14 Cr in the year ending 31 Mar 2021, increasing to ₹0.50 Cr by 31 Mar 2023. It further rose to ₹2.37 Cr in the year ending 31 Mar 2024. This indicates a significant growth in profitability over the periods analyzed.
Valuation
Kalana Ispat's implied P/E ratio at the issue price of ₹66.0 is approximately 22.59, compared to peers trading at a P/E range of 31.43 to 39.83.
Grey Market Premium, Explained
The grey market refers to the unofficial market where shares of an IPO are traded before they are listed on the stock exchange. The Grey Market Premium (GMP) indicates the expected listing price of the IPO based on demand and supply dynamics in this unofficial market.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall portfolio strategy and market conditions. It's essential to consider the company's growth prospects and financial health.
Who May Want to Wait
Investors with a low risk tolerance or those seeking stable returns may want to avoid IPOs like this, which can be subject to market fluctuations and uncertainties.
IPO Timeline, Explained
The IPO process includes several key dates: the opening date for subscription is 19 Sep 2024, closing on 23 Sep 2024. Allotment of shares will be done by 24 Sep 2024, and the listing is expected on 26 Sep 2024.
Listing Gains — The Risk
Listing-day gains are not guaranteed and can be influenced by market conditions, investor sentiment, and the overall performance of the company post-IPO. Investors should be aware that while some IPOs may see a spike in price on listing day, others may not perform as expected.
This evaluation is generated from Kalana Ispat's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
When does Kalana Ispat IPO open and close?
Kalana Ispat IPO opens on 19 September 2024 and closes on 23 September 2024.
When does Kalana Ispat IPO list on the stock exchange?
Kalana Ispat IPO listed on 26 September 2024 at ₹66.0.
What is the lot size for Kalana Ispat IPO?
The lot size for Kalana Ispat IPO is 2000 shares, requiring a minimum investment of ₹132,000.
What is the lot size for the Kalana Ispat IPO?
The lot size is 2000 shares.
What is the minimum investment required for this IPO?
The minimum investment required is ₹132,000.
What is the issue price of the Kalana Ispat IPO?
The issue price is ₹66.0 per share.
When is the listing date for the Kalana Ispat IPO?
The listing date is expected to be 26 Sep 2024.
What does GMP stand for?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO based on unofficial trading.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
19 Sep 2024
Close
23 Sep 2024
Allotment
24 Sep 2024
Listing
26 Sep 2024
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