Godawari Power & Ispat IPO
Godawari Power & Ispat IPO — date, price band, lot size & details 2006
Godawari Power & Ispat listed on 25 Apr 2006 at ₹95, 17.3% above the ₹81 issue price.
Godawari Power and Ispat is a Raipur based maker of sponge iron, steel billets, ferro alloys and wires with its own captive power plant, and part of the Hira Group. Its total income was Rs 193.19 crore in FY2005.
Stock price
Godawari Power & Ispat 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 28 Mar 2006
- Close 04 Apr 2006
- Allotment 19 Apr 2006
- Refund/credit TBA
- Listing 25 Apr 2006
Issue summary
The terms of the offer, as filed.
| IPO Dates | 28 Mar to 4 Apr, 2006 |
|---|---|
| Price Band | ₹70 – ₹81 |
| Face Value | ₹10 |
| Lot Size | 80 Shares |
| Issue Size | ₹70.43 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 6,480 |
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 80 shares at the ₹81 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 80 | ₹6,480 |
| Retail (max) | 30 | 2,400 | ₹1,94,400 |
| S-HNI (min) | 31 | 2,480 | ₹2,00,880 |
| S-HNI (max) | 154 | 12,320 | ₹9,97,920 |
| B-HNI (min) | 155 | 12,400 | ₹10,04,400 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 67.72 crore in FY2003 to Rs 193.19 crore in FY2005.
- 02Profit after tax rose from Rs 1.50 crore in FY2003 to Rs 24.11 crore in FY2005.
- 03Its plant runs on 28 MW of captive power, and the expansion was to add 25 MW more.
- 04Net worth rose from Rs 29.77 crore in FY2003 to Rs 63.77 crore in FY2005.
Risks · 5
- 01Its first phase of expansion, started in July 2004, began commercial production only in January 2006 after equipment delays.
- 02The second phase was a large project for its size, with Rs 173.32 crore listed in the objects of the issue.
- 03Total borrowing rose from Rs 41.47 crore in FY2004 to Rs 83.14 crore in FY2005.
- 04Sponge iron and billet prices follow the steel cycle; all its capacity of 235,000 TPA of sponge iron is at one location.
- 05Promoter holding fell from 97.60% before the issue to 63.44% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Godawari Power & Ispat offer document.
| Metric | 31 Mar 2005 | 31 Mar 2004 | 31 Mar 2003 |
|---|---|---|---|
| Assets | 160.33 | 89.84 | 62.58 |
| Total Income | 193.19 | 124.17 | 67.72 |
| Profit After Tax | 24.11 | 7.77 | 1.50 |
| NET Worth | 63.77 | 43.04 | 29.77 |
| Total Borrowing | 83.14 | 41.47 | 27.29 |
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 Godawari Power & Ispat RHP.
Where the money goes
₹183.93 Cr of the issue is earmarked to named objects.
About the company
It runs an integrated plant at the Siltara Industrial Area in Raipur, Chhattisgarh, making sponge iron, steel billets, ferro alloys and wires, with captive power generation.
Its capacities were 235,000 TPA of sponge iron, 250,000 TPA of steel billets, 28 MW of captive power, 16,500 TPA of ferro alloys and 36,000 TPA of wires. It had 417 permanent employees as on 28 February 2006.
The IPO was Rs 70.43 crore and was entirely a fresh issue at Rs 81, the top of the Rs 70 to Rs 81 band. The money was for its second phase of expansion, adding 260,000 TPA of sponge iron, 150,000 TPA of billets and 25 MW of power.
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.
Godawari Power & Ispat 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.
HSBC InvestDirect Securities (India) Ltd
24 issues handledBest listing: Dishman Pharmaceuticals & Chemicals (+97.1%). Weakest: Bannari Amman Spinning Mills (-25.2%).
Microsec Capital Ltd
7 issues handledBest listing: Ramkrishna Forgings (+92.3%). Weakest: Vikash Metal & Power (-40.0%).
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 Godawari Power & Ispat?
The current Grey Market Premium is ₹0.
What is the Godawari Power & Ispat IPO price band?
₹70 to ₹81, on a face value of ₹10.
When is the allotment?
The basis of allotment is 19 April 2006, with listing on 25 April 2006.
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.
