Ankit Metal & Power IPO
Ankit Metal & Power IPO — date, price band, lot size & details 2007
Ankit Metal & Power listed on 10 Jul 2007 at ₹37.9, 5.3% above the ₹36 issue price.
Ankit Metal and Power is building an integrated steel plant with sponge iron, ingots and billets, re-rolling and captive power at Jorehira in Bankura, West Bengal. Its total income was Rs 21499.90 lacs in FY2007.
Stock price
Ankit Metal & Power is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 18 Jun 2007
- Close 22 Jun 2007
- Allotment 03 Jul 2007
- Refund/credit TBA
- Listing 10 Jul 2007
Issue summary
The terms of the offer, as filed.
| IPO Dates | 18 to 22 Jun, 2007 |
|---|---|
| Price Band | ₹30 – ₹36 |
| Face Value | ₹10 |
| Lot Size | 190 Shares |
| Issue Size | ₹42.84 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 6,840 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 190 shares at the ₹36 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 190 | ₹6,840 |
| Retail (max) | 29 | 5,510 | ₹1,98,360 |
| S-HNI (min) | 30 | 5,700 | ₹2,05,200 |
| S-HNI (max) | 146 | 27,740 | ₹9,98,640 |
| B-HNI (min) | 147 | 27,930 | ₹10,05,480 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 6737.34 lacs in FY2006 to Rs 21499.90 lacs in FY2007.
- 02Net worth rose from Rs 4185.34 lacs in FY2006 to Rs 5222.36 lacs in FY2007.
- 03Its plan included 2 captive power plants, of 8 MW and 4 MW.
- 04Return on net worth was 20.19%.
Risks · 5
- 01The sponge iron unit had a cost overrun of Rs 9.61 Crore and delays.
- 02It had only 1 full year of operations before the IPO, FY2007.
- 03Steel and sponge iron prices are cyclical, which matters for a single plant with 85 employees.
- 04Pollution control rules had already forced extra spending at its 350 TPD kiln.
- 05Promoter and promoter group holding fell from 100% before the issue to 70.83% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Ankit Metal & Power offer document.
| Metric | 31 Mar 2007 | 31 Mar 2006 | 31 Mar 2005 | 31 Mar 2004 |
|---|---|---|---|---|
| Total Income | 215.00 | 67.37 | 0.00 | 0.00 |
| Profit After Tax | 10.54 | 3.48 | 0.00 | 0.00 |
| NET Worth | 52.22 | 41.85 | 22.75 | 9.08 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Ankit Metal & Power RHP.
Where the money goes
₹146.48 Cr of the issue is earmarked to named objects.
About the company
It was set up to build an integrated steel plant making sponge iron, M.S. ingots and billets and re-rolled products, with a captive power plant, in phases.
The plant is at village Chhatna, Jorehira, in Bankura district, West Bengal, with 85 employees. The sponge iron unit cost Rs 9.61 Crore more than planned because of higher steel prices, extra pollution control equipment and a larger kiln of 350 TPD.
The IPO was Rs 42.84 crore at Rs 36, the top of the Rs 30 to Rs 36 band, of which Rs 34.52 crore was fresh issue.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Ankit Metal & Power IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Chartered Capital & Investment Ltd
13 issues handledBest listing: Celestial Labs (+25.0%). Weakest: AMD Metplast (-2.7%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Ankit Metal & Power?
The current Grey Market Premium is ₹0.
What is the Ankit Metal & Power IPO price band?
₹30 to ₹36, on a face value of ₹10.
When is the allotment?
The basis of allotment is 3 July 2007, with listing on 10 July 2007.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
