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Chaman Metallics Ltd

Chaman Metallics IPO

  • Status: Closed
  • ₹ 114,000 / 3000 shares

    Minimum Investment

IPO Details

  • Open Date

    04 Jan 2023

  • Close Date

    06 Jan 2023

  • IPO Price Range

    ₹ 38 /share price

  • IPO Size

    ₹ 24.21 Cr

  • Listing Exchange

    TBA

  • Listing Date

    TBA

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Timeline Subscription Status Objective Financials SWOT FAQ Contacts

IPO Timeline

Last Updated: 03 January 2024 8:57 PM by 5Paisa

Chaman Metallics IPO opens on 4th January and closes on 6th January. The issue consists of issuance of 6,372,000 aggregating to the issue size of Rs. 24.12 crores. The lot size is fixed at 3000 shares per lot while the price is fixed at Rs. 38 per share. The issue will be listed on NSE SME on 16th January while the shares will be allotted on 11th January. Hem Securities is the running lead book manager for the issue.

Objective of Chaman Metallics IPO

The company intends to utilize the proceeds of the Issue to meet the following objectives: -
•    To meet Working Capital requirements
•    General Corporate Purpose
•    To meet issue expenses
 

The company is primarily engaged in the business of manufacturing and selling of Direct Reduced Iron (i.e. sponge iron). Sponge iron is mainly used as a raw material for making steel in electric arc furnaces and induction furnaces. Due to its Sponge Iron business, it can also cater to metallic requirements of steel producers in selected geographies. 

The company was acquired by GR Group (based out of Raipur) and has allowed it operate in in various segment of steel i.e. Ferro alloys, Sponge Iron, MS Ingots and re-rolled products. The location of its manufacturing unit in Chandrapur, Maharashtra gives it access to high-quality iron ore, iron ore pellets, coal and dolomite which are the major raw materials for sponge iron manufacturing. The manufacturing unit y is equipped with requisite technology and infrastructure including machineries, testing laboratory other handling equipments to facilitate smooth manufacturing process. 

The company sells its products in Maharashtra, Odisha and Chhattisgarh. Some of the key customers include Rajesh Steel & Wire Industries (New), R.K. Steel Sales, SMW Ispat Pvt Ltd, Gajkesari Steels & Alloys Pvt. Ltd etc.

Check out Chaman Metallics IPO Web-Stories

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY22 FY21 FY20
Revenue 184.9 140.6 58.0
EBITDA 15.5 10.7 0.0
PAT 9.3 5.2 3.7
Particulars (in Rs. Crores) FY22 FY21 FY20
Total Assets 73.8 58.7 54.0
Share Capital 7.9 7.9 7.9
Total Borrowings 25.2 13.9 19.8
Particulars (in Rs. Crores) FY22 FY21 FY20
Net cash generated from / (used in) operating activities -5.9 8.1 -6.4
Net cash from / (used in) investing activities -3.5 -1.0 -5.9
Net cash flow from / (used in) financing activities 9.3 -8.1 13.0
Net increase (decrease) in cash and cash equivalents 0.0 -1.0 0.7

Peer Comparison

Name of the Company Total Revenue  Basic EPS CMP  PE RoNW%
Chaman Metallics Limited 185.46 5.26 38 7.22 24.54%
Bihar Sponge Iron Limited 94.58 0.92 9.57 10.4 0.00%
Lloyds Metals And Energy Limited 727.25 2.78 207.7 74.71 20.37%


Strengths

•    Strategically located manufacturing unit 
•    Stringent quality control mechanism ensuring standardized product quality 
•    Long standing relationship with our customers 
•    Well Qualified and Experienced Management Team
 

Risks

•    Failure to successfully upgrade the product portfolio, from time to time
•    Failure to keep pace with rapid changes in technology
•    Volatility in the supply and pricing of the raw materials as the company significantly depends upon few of the raw material suppliers for manufacturing of sponge iron
•    The company is subject to competition from both organized and unorganized players in the market, which may significantly affect the fixation and realisation of the price for its product
 

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FAQs

The price for the Chaman Metallics IPO is set at Rs. 38 per share.

The Chaman Metallics IPO opens on 4th January and closes on 6th January.

The Chaman Metallics IPO comprises of fresh issuance of 6,372,000 shares aggregating to Rs. 24.12 crores.

The allotment date of Chaman Metallics IPO is set for 11th January.

The Chaman Metallics IPO will be listed on 16th January.

The Chaman Metallics IPO lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹114,000).

The net proceeds from the issue will be used for: 

•    To meet Working Capital requirements
•    General Corporate Purpose
•    To meet issue expenses
 

 To apply for the IPO, follow the steps given below

•    Login to your 5paisa account and select the issue in the current IPO section
•    Enter the number of lots and price at which you wish to apply for
•    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange
•    You will receive a mandate notification to block funds in your UPI app
 

Chaman Metallics is promoted by Chetan Agrawal, Keshav Kumar Agrawal, G.R. Sponge and Power Limited, and N.R. Sponge Private Limited.

Hem Securities is the book running lead managers to the issue.