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Newmalayalam Steel IPO
Price Band
₹85.0–90.0
Issue Size
₹41.76 Cr
Lot Size
1,600 shares
Min Investment
₹144,000
GMP
+₹30.0 (33.33%)
Issue Price
₹90.0
Subject to Sauda
₹36500
Paid only if allotted
Newmalayalam Steel IPO AI Summary
- Newmalayalam Steel IPO is listed on NSE SME in the Iron & Steel Products sector.
- Price band: ₹85.0–₹90.0 per share, lot size 1,600 shares (min. investment ₹144,000).
- Subscription window: 19 Dec–23 Dec 2024, listing on 27 Dec 2024.
- Current GMP is +₹30.0 (33.33%), an estimated listing price of ₹120 — unofficial and can change daily.
NewMalayalam Steel Limited is an SME in the iron and steel sector, focusing on manufacturing galvanised pipes and tubes. The company has shown fluctuations in revenue and profit, with a recent recovery in profit figures. The IPO aims to raise funds for technological upgrades and expansion, among other objectives.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Newmalayalam Steel IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 23 Dec 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
Newmalayalam Steel IPO Grey Market Premium (GMP) Today
GMP
+₹30.0
GMP %
+33.33%
Est. Listing
₹120.0
Updated: 25 Jul 2026 14:02
About the Company
NewMalayalam Steel Limited manufactures galvanised pipes, tubes, and sheets. The company has an electric resistance welding tube mill with an installed capacity of 3,500 MT in a manufacturing unit in Kerala, India. The company's clients are Jaihind Steel Private Limited, Aashico Ventures LLP, George Infra Private Limited and others. The products' reputation and quality have helped Newmalayalam Steel Limited establish brand equity in the products marketed under the brand name "Demac Steel". Incorporated in 2017, the company took over the entire M/s business. Demac Steel, along with its assets and liabilities, is on a going concern basis (the "Transfer"). Competitive Strengths: Widespread distribution network and presence across various retail channels. Diversified Product Basket. Brand recall and established track record. Existing client and supplier relationships. Quality Assurance and Quality Control of the products. Strategically located manufacturing facilities with modern infrastructure and integrated manufacturing facilities with a core focus on quality. Cost-efficient sourcing and locational advantage.
Company Financials (₹ Cr)
As of 2024-09-30
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 110.33 | 112.08 | 87.35 | 90.02 |
| Total Income | 155.34 | 303.15 | 359.96 | 323.61 |
| Profit After Tax | 5.19 | 4.27 | 6.00 | 6.73 |
| NET Worth | 45.66 | 40.47 | 36.20 | 30.20 |
| Reserves and Surplus | 33.02 | 27.82 | 23.56 | 17.55 |
| Total Borrowing | 39.18 | 59.11 | 28.15 | 49.20 |
Key Ratios
EPS
₹3.38
NAV
₹32.00
ROE
10.55%
ROCE
17.60%
RoNW
10.55%
P/B Value
2.81
P/E Ratio
26.67
Market Cap
₹155.59 Cr
PAT Margin
1.41%
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Hariom Pipe Industries Limited | 149.72 | 12.24% | 32.8 | 20.4 | 20.4 |
| Apollo Pipes Ltd | 103.93 | 15.7% | 59.1 | 26.4 | 26.4 |
| Newmalayalam Steel Limited This IPO | 32 | 10.55% | 26.67 | 3.38 | 3.38 |
Promoters
Vazhappily Davis Varghese, Divyakumar Jain, Ankur Jain, Mahendra Kumar Jain, Molly Varghese and Cyriac Varghese
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 IT / Technological Upgradation of existing manufacturing facility 2.88 2 Expansion of the existing solar facility for power generation 2.34 3 Funding of expenditure towards civil construction of new factory shed cum storage facility within the existing factory premises situated at Kerala 2.56 4 Advertising, Marketing and Brand Building 5.06 5 Funding incremental working capital requirements of our Company 14.20 6 General Corporate purposes# 10.36
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹359.96 Cr in the year ending 31 Mar 2023, declining to ₹303.15 Cr by 31 Mar 2024. The most recent figure as of 30 Sep 2024 shows total income at ₹155.34 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit after tax was ₹6.00 Cr in the year ending 31 Mar 2023, decreasing to ₹4.27 Cr by 31 Mar 2024. The latest figure as of 30 Sep 2024 is ₹5.19 Cr, which indicates a recovery compared to the prior full year.
Valuation
Priced at roughly 26.67 trailing earnings, versus peers trading at P/E ratios of 32.8 for Hariom Pipe Industries Limited and 59.1 for Apollo Pipes Ltd.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO in the stock market compared to its issue price. A positive GMP suggests that the IPO may list at a higher price than its issue price, while a negative GMP indicates the opposite.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. Consider the company's fundamentals and market conditions before making a decision.
Who May Want to Wait
Investors who are risk-averse or prefer stable, established companies may want to avoid this IPO, especially if they are not comfortable with the inherent risks associated with investing in smaller companies or the iron and steel sector.
IPO Timeline, Explained
The IPO opens for subscription on 19 December 2024 and closes on 23 December 2024. Allotment is expected on 24 December 2024, with the listing date set for 27 December 2024.
Listing Gains — The Risk
Listing-day gains can be unpredictable. While a positive GMP may indicate potential for listing gains, various market factors can influence the stock's performance on the listing day. Investors should be prepared for the possibility of volatility.
This evaluation is generated from Newmalayalam Steel'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
What is Newmalayalam Steel IPO GMP today?
Newmalayalam Steel IPO GMP today is +₹30.0 (33.33%), indicating an estimated listing price of ₹120. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Newmalayalam Steel IPO?
The price band of Newmalayalam Steel IPO is ₹85.0–₹90.0 per share.
When does Newmalayalam Steel IPO open and close?
Newmalayalam Steel IPO opens on 19 December 2024 and closes on 23 December 2024.
When does Newmalayalam Steel IPO list on the stock exchange?
Newmalayalam Steel IPO listed on 27 December 2024 at ₹120.0.
What is the lot size for Newmalayalam Steel IPO?
The lot size for Newmalayalam Steel IPO is 1600 shares, requiring a minimum investment of ₹144,000.
What is the price band for the IPO?
The price band for the IPO is ₹85.0 to ₹90.0.
What is the minimum investment required?
The minimum investment required is ₹144,000.
What is the lot size for the IPO?
The lot size for the IPO is 1,600 shares.
When is the listing date?
The listing date is 27 December 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of an IPO compared to its issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
19 Dec 2024
Close
23 Dec 2024
Allotment
24 Dec 2024
Listing
27 Dec 2024
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