NewMalayalam Steel IPO Live
Already have an account? Apply now
Schedule of NewMalayalam Steel
| Issue open date | 19 Dec 2024 |
| Issue close date | 23 Dec 2024 |
| UPI mandate deadline | 23 Dec 2024 (5 PM) |
| Allotment finalization | 24 Dec 2024 |
| Refund initiation | 26 Dec 2024 |
| Share credit | 26 Dec 2024 |
| Listing date | 27 Dec 2024 |
| Mandate end date | 07 Jan 2025 |
| Lock-in end date for anchor investors (50%) | 23 Jan 2025 |
| Lock-in end date for anchor investors (remaining) | 24 Mar 2025 |
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 NewMalayalam Steel
Incorporated in 2017, NewMalayalam Steel manufactures galvanized pipes, tubes, and sheets, primarily serving households and the construction industry in Kerala. In 2018, the company began production with a 3,500 MT electric resistance welding (ERW) tube mill, later expanding its capacity by 4,000 MT in 2019 to meet growing demand. Galvanized products are popular for their rust-free durability, heat resistance, and leakage prevention, addressing Kerala’s weather challenges. Additionally, products are sold to a Promoter Group entity, Jaihind Steel Private Limited, for further distribution.
Financials of NewMalayalam Steel
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹41.76 crores |
| Fresh issue | ₹41.76 crores |
| Offer for sale | – |
Strengths
- Wide distribution network across multiple retail channels.
- Diversified product basket for various industrial uses.
- Strong brand recall and proven track record.
- Established relationships with clients and suppliers.
- High-quality products with strict quality control measures.
- Strategically located, cost-efficient manufacturing facilities.
- Experienced management with strong project execution skills
Risks
- Heavy dependence on dealers for revenue generation.
- Geographical concentration of operations in Kerala.
- The cyclical nature of the steel industry impacts profitability.
- Failure to implement expansion and diversification strategies.
- Financial risks from defaults in loan repayments.
- Risk of disruption from hazardous manufacturing processes.
- Lack of an independent agency to monitor fund usage.