Ashoka Metcast IPO

Ashoka Metcast IPOBusiness description - Ashoka Metcast is currently engaged in trading of structural steel products such as Round Bars, Flat Bars etc. and through our wholly owned Subsidiary, SGRM we are proposing to manufacture structural steel products like TMT bars, angles, channels, MS Bars etc. The company plans to leverage its group and promoter networks in the real estate and infrastructure space as well as strong balance sheet situation to increase its presence in the structural steel market of Gujarat and Western India. The company commenced its trading operations in September 2017. The company is in the process of building a structural steel focussed trading vertical as well as developing a strong team to cater to its proposed increased operational needs.

Further, the company has recently acquired 100% stake in Shree Ghantakarna Rolling Mills Pvt Ltd (making it its wholly owned Subsidiary Company). The subsidiary company owns a rolling mill having aggregate installed capacity of 12,000 tons; however the same has been non-operational for past 16 years due to internal financial constraints as well as market conditions. Post acquisition, it has begun the process of revamping as well as expanding the production facilities and the company intends to begin the production in April 2018 with an aggregate installed capacity of 18,000 tons per annum. As on 30 November 2017, the company employs 8 people on its payroll. 

Promoters of Ashoka Metcast – Mr  Shalin Shah and Shalin A. Shah (HUF)
Ashoka Metcast IPO details
Subscription Dates23 - 25 January 2018
IPO Price bandINR20 per share
Fresh issue 6,000,000 shares (INR12 crore)
Offer for sale Nil
Total IPO size6,000,000 shares (INR12 crore)
Minimum bid (lot size)6,000 shares
Face Value INR10 per share
Retail Allocation50%
Listing OnBSE SME platform
Use of funds
  • Investment in subsidiary company – SGRMPL for funding capital expenditure requirements in relation to revival and modernisation of existing manufacturing facility at Kadi, Gujarat and working capital requirements - INR7.4 crore
  • Repayment of loans - INR2.1 crore
  • General Corporate Expenses 
Ashoka Metcast's financial performance (in INR lakh)
 FY2013FY2014FY2015FY2016FY2017Till 15 Nov 2017
Total revenue 0.40.90.49.9652.5
Total expenses0.21.50.20.28.5645.2
Profit after tax-0.2-1.10.70.11.15.4
Ashoka Metcast Contact Details

Ashoka Metcast Limited
7th Floor, Ashoka Chambers
Opposite HCG Hospital Mithakhali Six Roads
Mithakhali, Ahmedabad- 380006

Phone: +91 79- 2646 3226
Email: [email protected]
Website: www.ashokametcast.in

Ashoka Metcast IPO Subscription Details
DaySubscription (no. of times)
Day 10.30
Day 20.57
Day 31.48
  
  
Ashoka Metcast Valuation (Latest FY)

Earnings Per Share (EPS): INR10.67

Price/Earnings (P/E) ratio: 1.87

Return on Net Worth (RONW): 81.95%

Net Asset Value (NAV): INR0.13 per share

Registrar of Ashoka Metcast IPO

Bigshare Services Private Limited 
E2, Ansa Industrial Estate, Sakivihar Road,
Sakinaka, Andheri (E)
Mumbai – 400 072

Phone: +91 22 4043 0200 
Fax: 
+91 22 2847 5201
Email:
 [email protected]
Website: www.bigshareonline.com

Ashoka Metcast IPO Allotment Status

Ashoka Metcast IPO allotment status is now available on Bigshare Services' website. Click on this link to get allotment status.

Listing performance of Ashoka Metcast

IPO Opening Date: 23 January 2018

IPO Closing Date: 25 January 2018

Finalisation of Basis of Allotment: 31 January 2018

Initiation of refunds: 1 February 2018

Transfer of shares to demat accounts: 2 February 2018

Listing Date: 5 February 2018

Listing Price on BSE SME: INR16 per share (down 20% from IPO price)

Closing Price on BSE SME: INR16 per share (down 20% from IPO price)

4 thoughts on “Ashoka Metcast IPO

  • February 5, 2018 at 5:43 PM
    Permalink

    No one should be surprised with the listing but it is just unbelievable this company got 1.5 times subscription. Who are these people giving away their money??

    Reply
  • January 23, 2018 at 11:31 AM
    Permalink

    My income tax statement is much better than this company’s record for the last year and I just can’t trust this year’s figures. Looks all made up.

    Reply
    • January 25, 2018 at 1:56 PM
      Permalink

      Haha. You are absolutely correct, numbers in sme ipos are totally fudged. You just can’t trust the financial figures. For some reason, all the companies have good numbers to show in the latest period!!!

      Reply
    • January 25, 2018 at 4:15 PM
      Permalink

      true mridul…………. they think public are fool.

      Reply

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