Schedule of Kalana Ispat
| Issue open date | 19 Sep 2024 |
| Issue close date | 23 Sep 2024 |
| UPI mandate deadline | 23 Sep 2024 (5 PM) |
| Allotment finalization | 24 Sep 2024 |
| Refund initiation | 25 Sep 2024 |
| Share credit | 25 Sep 2024 |
| Listing date | 26 Sep 2024 |
| Mandate end date | 08 Oct 2024 |
| Lock-in end date for anchor investors (50%) | 24 Oct 2024 |
| Lock-in end date for anchor investors (remaining) | 23 Dec 2024 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Kalana Ispat
Incorporated in 2012, Kalana Ispat is engaged in manufacturing M.S. Billets and Alloy Steel Billets/Ingots. Initially, the Company was engaged in trading metal scraps, which were procured through imports from various countries, sourced from shipbreaking yards and local merchants. As the business progressed, It ventured into manufacturing M.S. Billets and set up its manufacturing unit in Ahmedabad, Gujarat in the year 2015. As of December 31, 2023, the company was operating at its maximum capacity with installed capacity of 38000 MT.
Financials of Kalana Ispat
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹32.59 crores |
| Fresh Issue | ₹32.59 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Capital expenditure | 30.98 (95.06%) |
| General corporate purposes | 0.61 (1.87%) |
| Issue related expenses | 1 (3.07%) |
Strengths
- The location of the manufacturing unit gives it a two-way advantage. Being located on a Highway and within 300-400 km from the Port, the company finds it advantageous to procure raw materials (both domestic and imported) and to supply its finished products.
- The company’s track record has helped it to build strong and cordial relationships with customers and suppliers, owing to which it secured repetitive orders from its customer base as well as timely and cost-effective delivery of raw materials from its suppliers.
- The company has a dedicated managerial team that is involved in sales and marketing. Its Sales and Marketing team studies the opportunities available in the market and then pitches for prime projects at the appropriate time.
Risks
- The business is subject to a variety of safety, health, and environmental laws, labour, and workplace-related laws and regulations. Any failure to comply with these applicable laws and regulations could harm its operations.
- The business operations are concentrated in the Gujarat region, any adverse developments affecting its operations in this region could have a significant impact on the revenue and results of operations.
- The company’s top five clients account for more than 74% of the revenue. If it loses some or all of the business from these clients and any receivables from the clients would increase and may have to be written off, this would impact the company’s financial condition.
- The company had negative cash flows from its operating, investing activities, and financing activities in the current and past years. Sustained negative cash flow could impact the growth and financial condition.