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24 January 2023

Earthstahl & Alloys Ltd. IPO Date, Allotment and all Details

Earthstahl and Alloys Limited

The company Earthstahl & Alloys Ltd. (EAL) produces cast iron lumps and ductile iron pipe fittings. Cast iron lumps are used as the primary raw material in the production of cast iron pipe fittings, latch machines, fan parts, manhole covers, ornamental cast iron pieces, and other cast iron or steel manufacturing equipment in steel foundries.

In public water delivery systems, ductile iron pipe fittings are used to join pipes. EAL began producing cast iron in the year 2012 with one submerged electric arc furnace with a capacity of 3.6 MVA to produce 10,500 tonnes of cast iron lumps each year. Then, in the year 2017, it entered the market for ductile iron pipes and fittings to meet the expanding needs for water infrastructure in the nation. wherein the firm hired Lost Foam-based Steel Foundry, which has one induction furnace and two crucibles, one weighing 500 kg and the other weighing 1000 kg, to make ductile iron pipe fittings for the water supply system that come in a variety of forms, sizes, and specifications.

The foundry is able to make different parts for Pellet plants, Cement plants, Sponge iron plants, Power plants, Automobile Sector, Railway & Ductile Iron Pipes Fittings by utilizing foam moulds. It is also capable of making parts or components of plants and machinery/automobiles. With precision, consistency, and a smooth surface finish, EAL has had success producing a broad variety of BIS Certified Ductile Iron Pipe Fittings of up to 600 mm wide throughout the years. The business will also commission a second 5.5 MVA submerged electric arc furnace in 2022 to produce 15,750 tonnes of lump cast iron annually.

On the payroll as of September 30, 2022, were 161 people.

Earthstahl & Alloys Ltd. (EAL) (IPO Details)

Earthstahl & Alloys Limited, a 2009 incorporation, manufactures cast iron granules and ductile iron pipe fittings. The company's cast iron lumps are then utilized as a raw material to create items like cast iron pipe fittings, machine parts like latche machines, fan components, manhole covers, ornamental cast iron pieces, cast iron pipe fitting, and other units that produce steel or cast iron goods. Ductile Iron Pipe Fittings, the company's other main product, are employed as pipe connectors in public water delivery systems. The manufacturing unit of Earthstahl & Alloys Limited is located in the village of Duldula nearby Raipur, Chhattisgarh, and is spread across an area of around 4.73 hectares of land.

Along with efficiently creating and delivering cast iron lumps and ductile iron pipe fittings, the business is also broadening its scope by using foam moulds to create parts or pieces of machinery and plant. Among these goods are factories producing pellets, cement, sponge iron, power plants, automobiles, and railway & ductile iron pipe fittings.

Objects of the Issue

The following goals will be achieved by the firm using the proceeds of the issue:

1. Financing capital expenses for a change in the power supply voltage at our manufacturing facility in Village Duldula, Baloda Bazar, from 33 KV to 132 KV (C.G.)

2. To meet Working Capital requirements

3. General Corporate Purpose

4. To meet issue expenses

Earthstahl & Alloys IPO Details

IPO Date	Jan 27, 2023 to Jan 31, 2023
Listing Date	[.]
Face Value	10 per share
Price	38 to ₹40 per share
Lot Size	3000 Shares
Issue Size	3,240,000 shares of ₹10 (aggregating up to ₹12.96 Cr)
Fresh Issue	3,240,000 shares of ₹10 (aggregating up to ₹[.] Cr)
Issue Type	Book Built Issue IPO
Listing At	BSE SME
QIB Shares Offered	30% of the Net Issue
NII (HNI) Shares Offered	35% of the Net Issue
Retail Shares Offered	35% of the Net Issue
Market Maker	HEM SECURITIES LTD.
Company Promoters	Ravi Thakurdasji Laddha, Rajesh Somani, Prawin Somani and Padam Kumar Jain is the promoter of the company.

Earthstahl & Alloys IPO Tentative Timetable

The IPO for Earthstahl & Alloys begins on January 27 and ends on January 31, 2023. The IPO bid period for Earthstahl & Alloys runs from January 27, 2023, from 10:00 A.M., until January 31, 2023, at 5:00 P.M. On the day of the issue's conclusion, at 5 PM, UPI Mandate confirmation must be received.

Event	Tentative Date
Opening Date	Jan 27, 2023
Closing Date	Jan 31, 2023
Basic of Allotment	Feb 3, 2023
Initiation of Refunds	Feb 6, 2023
Credit of Shares to Demat	Feb 7 2023
Listing Date	Feb 8 2023