Newmalayalam Steel IPO GMP Today: Everything You Need to Know
The Newmalayalam Steel IPO is making waves in the stock market as it is set to list on the NSE SME platform on December 27, 2024. Investors are eagerly awaiting its listing, and discussions surrounding its grey market premium (GMP) are gaining momentum. If you’re looking to understand the Newmalayalam Steel IPO GMP today, subscription status, and other key details, you’re in the right place. Let’s dive into the specifics of this exciting investment opportunity!
What is Newmalayalam Steel IPO GMP Today?
The GMP of an IPO is the premium at which shares are trading in the grey market before their official listing. It gives potential investors an idea of the demand and expected performance of the stock once it hits the market. The Newmalayalam Steel IPO GMP today is being closely watched as investors speculate on the company’s future performance.
The Newmalayalam Steel IPO GMP currently stands at ₹10 to ₹12, indicating a positive outlook for the stock once it lists. This means that the stock is likely to list at a premium price compared to its issue price, reflecting strong investor demand.
Key Details of Newmalayalam Steel IPO
- IPO Issue Size: ₹41.76 Crore
- Price Band: ₹85 to ₹90 per share
- Minimum Lot Size: 1,600 shares (₹1,44,000)
- IPO Dates: December 19, 2024 to December 23, 2024
- Listing Date: December 27, 2024
- Face Value: ₹10 per share
- Issue Type: Book Built Issue IPO
- Market: NSE SME
Newmalayalam Steel Limited, incorporated in 2017, manufactures galvanized pipes, tubes, and sheets. The company is known for its high-quality products marketed under the brand name “Demac Steel” and has a strong clientele, including Jaihind Steel and Aashico Ventures.
Newmalayalam Steel IPO Subscription Status
As of the latest update, the Newmalayalam Steel IPO has received significant interest from investors. The IPO has been offered in three categories: Qualified Institutional Buyers (QIB), Non-Institutional Investors (NII), and Retail Individual Investors (RII).
- Retail (RII): 42.76% of the total shares
- Non-Institutional Investors (NII): 42.69%
- Qualified Institutional Buyers (QIB): 9.52%
The IPO saw strong demand, especially from HNI (High Net-Worth Individuals), as indicated by the large portion allocated to them.
Why Invest in Newmalayalam Steel IPO?
Competitive Strengths:
- Brand Recall: Established track record under the “Demac Steel” brand.
- Quality Control: High standards in product manufacturing.
- Diversified Product Basket: Various products catering to different industries.
- Strategically Located Facilities: Modern infrastructure with cost-efficient sourcing.
Financials: While the company experienced a slight decline in revenue and profit after tax in FY 2024, Newmalayalam Steel has built a strong foundation with a solid customer base and a growing reputation in the steel manufacturing sector.
How to Apply for Newmalayalam Steel IPO?
To apply for the Newmalayalam Steel IPO, you can follow these simple steps:
- Choose a Broker: If you don’t already have an online trading account, open one with a registered broker.
- Check the Price Band: The price band for the IPO is ₹85 to ₹90 per share.
- Place Your Bid: You can bid for a minimum of 1,600 shares.
- Make Payment: Ensure that the funds are available in your linked bank account for the application amount.
- Wait for Allotment: The allotment will be finalized by December 24, 2024.
FAQs About Newmalayalam Steel IPO GMP Today
1. What is the GMP for Newmalayalam Steel IPO today?
The GMP for Newmalayalam Steel IPO today is ₹10 to ₹12, indicating a positive outlook for the stock upon listing.
2. When will the Newmalayalam Steel IPO list on the stock exchange?
The Newmalayalam Steel IPO is set to list on NSE SME on December 27, 2024.
3. What is the price band for Newmalayalam Steel IPO?
The price band for the Newmalayalam Steel IPO is between ₹85 to ₹90 per share.
4. How much do I need to invest to apply for Newmalayalam Steel IPO?
The minimum investment required for retail investors is ₹1,44,000 for 1,600 shares.
5. What are the financials of Newmalayalam Steel Limited?
For the FY 2024, Newmalayalam Steel reported a decrease in revenue by 15.78% and a drop in Profit After Tax (PAT) by 28.91%.
6. Can I expect a good return from Newmalayalam Steel IPO?
While the GMP is positive, indicating good demand, investors should conduct thorough research and consider market conditions before investing.
7. What categories are available in the Newmalayalam Steel IPO?
The Newmalayalam Steel IPO offers shares to QIBs, NIIs, and RIIs, with a special allocation for market makers.
Conclusion
The Newmalayalam Steel IPO offers a promising investment opportunity for those looking to diversify their portfolios. With a positive GMP and strong fundamentals, this IPO could be an exciting addition to your investment strategy. Be sure to stay updated with the latest Newmalayalam Steel IPO GMP and listing information for the best chances at success.
Stay tuned to Tap Invest for more updates and insights into the world of IPOs and other fixed-income investment options.
