Shri Ramrupai Balaji Steels IPO
Shri Ramrupai Balaji Steels IPO — date, price band, lot size & details 2005
Shri Ramrupai Balaji Steels listed on 2 Aug 2005 at ₹27.2, 23.6% above the ₹22 issue price.
Shri Ramrupai Balaji Steels is a Jajodia group steel company that had built a mini blast furnace, sponge iron plant and rolling mill as the first phase of its project. Its total income was Rs 239.86 crore in FY2005.
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 08 Jul 2005
- Close 14 Jul 2005
- Allotment 29 Jul 2005
- Refund/credit TBA
- Listing 02 Aug 2005
Issue summary
The terms of the offer, as filed.
| IPO Dates | 8 to 14 Jul, 2005 |
|---|---|
| Price Band | ₹20 – ₹22 |
| Face Value | ₹10 |
| Lot Size | 250 Shares |
| Issue Size | ₹44 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 5,500 |
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 250 shares at the ₹22 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 250 | ₹5,500 |
| Retail (max) | 36 | 9,000 | ₹1,98,000 |
| S-HNI (min) | 37 | 9,250 | ₹2,03,500 |
| S-HNI (max) | 181 | 45,250 | ₹9,95,500 |
| B-HNI (min) | 182 | 45,500 | ₹10,01,000 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 43.69 crore in FY2004 to Rs 239.86 crore in FY2005 as its plant started.
- 02Profit after tax rose from Rs 3.27 crore in FY2004 to Rs 12.40 crore in FY2005.
- 03Net worth rose from Rs 41.24 crore in FY2004 to Rs 61.55 crore in FY2005.
- 04Phase I, 29.65% of the project, was already built.
Risks · 5
- 01Total borrowing was Rs 83.90 crore in FY2005, more than its net worth of Rs 61.55 crore.
- 02Most of the project, over 70% by cost, was still to be built.
- 03Steel prices are cyclical; it had almost no income in FY2003.
- 04It had a tax dispute it planned to settle through the Settlement Commission; the issue was Rs 44 crore.
- 05Promoter group holding fell from 100% before the issue to 69.69% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Shri Ramrupai Balaji Steels offer document.
| Metric | 31 Mar 2005 | 31 Mar 2004 | 31 Mar 2003 |
|---|---|---|---|
| Total Income | 239.86 | 43.69 | 0.00 |
| Profit After Tax | 12.40 | 3.27 | -0.01 |
| NET Worth | 61.55 | 41.24 | 4.43 |
| Reserves and Surplus | 15.62 | 3.26 | -0.01 |
| Total Borrowing | 83.90 | - | 0.00 |
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 Shri Ramrupai Balaji Steels RHP.
Where the money goes
₹304.45 Cr of the issue is earmarked to named objects.
About the company
It makes steel products for construction and infrastructure.
It had completed Phase I of its project, a mini blast furnace, sponge iron plant and rolling mill, which was 29.65% of the total project cost. A group company, Jai Balaji Sponge, was setting up a 12 MW captive power plant.
The IPO was Rs 44 crore and was entirely a fresh issue at Rs 22, the top of the Rs 20 to Rs 22 band, with a face value of Rs 10.
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.
Shri Ramrupai Balaji Steels 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.
Anand Rathi Advisors Ltd
30 issues handledBest listing: Paras Defence & Space Technologies (+168.0%). Weakest: Aanjaneya Lifecare (-6.8%).
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 Shri Ramrupai Balaji Steels?
The current Grey Market Premium is ₹0.
What is the Shri Ramrupai Balaji Steels IPO price band?
₹20 to ₹22, on a face value of ₹10.
When is the allotment?
The basis of allotment is 29 July 2005, with listing on 2 August 2005.
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.
