Newmalayalam Steel IPO Allotment Status: Check Allotment Status Online on NSE & Kfin Technologies

Checking the Allotment Status

Steps to Check Allotment Status on NSE

1. Visit NSE’s IPO bid verification page here.
2. Register on the website if you are a new user.
3. Select ‘Newmalayalam Steel’.
4. Enter details such as your application number.
5. Click on ‘Get Data’.

Steps to Check Allotment Status on Kfin Technologies

1. Visit the IPO registrar’s website here.
2. Choose 'Newmalayalam Steel Limited' from the Select IPO dropdown menu.
3. Select either Application No., Demat Account, or PAN.
4. Enter the details as per the option selected.
5. Enter the Captcha code and click on Submit. Your Newmalayalam IPO allotment status will be displayed on the screen.

Newmalayalam Steel Business Overview

NewMalayalam Steel Limited, established in 2017, specializes in the production of galvanized pipes, tubes, and sheets. Operating an electric resistance welding tube mill with a manufacturing capacity of 3,500 MT, the company runs its facility in Kerala, India. It has built strong brand equity for its products under the "Demac Steel" brand, thanks to their quality and reputation. With a client base that includes Jaihind Steel Private Limited, Aashico Ventures LLP, George Infra Private Limited, and others, the company has cemented its presence in the market. As part of its journey, NewMalayalam Steel Limited took over the entire business of M/s Demac Steel, including its assets and liabilities, on a going concern basis.

Newmalayalam Steel IPO Day 3 Subscription Status 

(December 23, 2024, End of Day) 

On the third day of bidding, the Newmalayalam Steel IPO achieved a subscription rate of 50.69 times the total shares available. The Non-Institutional Investors (NIIs) subscribed 24.63 times their allotted quota. The Retail Investors segment subscriptions reached 87.7 times their allocation. The Qualified Institutional Buyers (QIBs) recorded a subscription level of 1.26 times.

Utilization of IPO Proceeds

The company plans to utilize the net proceeds from the offer to fund several objectives, including IT and technological upgrades to its existing manufacturing facility, expansion of the current solar power generation unit, and expenditure on civil construction for a new factory shed and storage facility within its existing premises in Kerala. Additionally, the funds will be allocated towards advertising, marketing, and brand building, meeting incremental working capital requirements, covering issue-related expenses, and addressing general corporate purposes.