Jainam Ferro Alloys SME
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 28 Sep 2021 – 30 Sep 2021
- Listing date
- 08 Oct 2021
- Face value
- ₹10 per share
- Issue price
- ₹70 per share
- Lot size
- 2,000 shares
- Total issue size
- ₹19.61 Cr
- Market cap at offer price
- ₹73.93 Cr
- Promoter holding
- 100.00% → 73.47% pre-issue → post-issue
- ISIN
- INE02KC01010
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Hem Securities Ltd.
- Registered office
- Plot No.103 to 113, & 130 to 136/A & 137, Urla Industrial Area, Chhattisgarh
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Market maker | 1,50,000 | — | — |
Application size
Minimum 2,000 shares per lot, in multiples, at ₹70
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 2,000 | ₹1,40,000 |
| S-HNI (min) | 2 | 4,000 | ₹2,80,000 |
| S-HNI (max) | 7 | 14,000 | ₹9,80,000 |
| B-HNI (min) | 8 | 16,000 | ₹11,20,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| Market cap | — | ₹73.93 Cr |
About Jainam Ferro Alloys SME
Jainam Ferro Alloys (I) Limited was originally incorporated as Jainam Infraways Private Limited on March 6, 2014 in Chhattisgarh, was converted into a public limited company in June 2018 and renamed Jainam Ferro Alloys (I) Limited in August 2018. In 2016 it acquired the entire ferro alloy plant of M/s Raghuvir Ferro Alloys Private Limited at Urla Industrial Area, Raipur, along with rights to allotted manganese ore mines at Balaghat, Madhya Pradesh (lease extended up to 2058, though the mines remain inoperative and are yet to be transferred to the company). Commercial production began with a 9 MVA furnace (5,000 KVA power load), followed by a second 6 MVA furnace (4,000 KVA) in June 2017, giving an installed ferro alloys capacity of 24,000 tonnes per annum (57.10% utilized in FY2021). The company manufactures High Carbon Ferromanganese (HCFeMn) and High Carbon Silicomanganese (HCSiMn), used mainly in steelmaking and foundry activities, and sells largely through commission agents/brokers to steel-sector customers concentrated in Gujarat, Maharashtra, Haryana and Orissa; it also trades manganese ore and sells slag by-product. As per restated financials, revenue from operations was ₹10,152.95 lakhs in FY2021 (₹12,144.46 lakhs in FY2020; ₹13,159.30 lakhs in FY2019), with profit after tax of ₹311.77 lakhs in FY2021.
Company Analysis
from RHPJainam Ferro Alloys (I) Limited manufactures Ferro Manganese and Silico-manganese ferro alloys used primarily in the steel industry, and also generates revenue from trading manganese ore.
Jainam Ferro Alloys (I) Limited was originally incorporated as Jainam Infraways Private Limited on March 6, 2014 in Chhattisgarh, was converted into a public limited company in June 2018 and renamed Jainam Ferro Alloys (I) Limited in August 2018. In 2016 it acquired the entire ferro alloy plant of M/s Raghuvir Ferro Alloys Private Limited at Urla Industrial Area, Raipur, along with rights to allotted manganese ore mines at Balaghat, Madhya Pradesh (lease extended up to 2058, though the mines remain inoperative and are yet to be transferred to the company). Commercial production began with a 9 MVA furnace (5,000 KVA power load), followed by a second 6 MVA furnace (4,000 KVA) in June 2017, giving an installed ferro alloys capacity of 24,000 tonnes per annum (57.10% utilized in FY2021). The company manufactures High Carbon Ferromanganese (HCFeMn) and High Carbon Silicomanganese (HCSiMn), used mainly in steelmaking and foundry activities, and sells largely through commission agents/brokers to steel-sector customers concentrated in Gujarat, Maharashtra, Haryana and Orissa; it also trades manganese ore and sells slag by-product. As per restated financials, revenue from operations was ₹10,152.95 lakhs in FY2021 (₹12,144.46 lakhs in FY2020; ₹13,159.30 lakhs in FY2019), with profit after tax of ₹311.77 lakhs in FY2021.
Objects of the Issue
- To meet Working Capital requirements ₹677.60 lakhs p.86
- General Corporate Purpose ₹185.00 lakhs p.87
- To meet offer related expenses ₹48.80 lakhs p.85
Issue Structure
- Total Issue
- ₹1961.40 lakhs (28,02,000 Equity Shares)
- Fresh Issue
- 13,02,000 Equity Shares aggregating ₹911.40 lakhs
- Offer for Sale
- 15,00,000 Equity Shares aggregating ₹1050.00 lakhs (by Selling Shareholders Mrs. Shanti Bai Parakh, Mr. Anil Parakh and Anil Parakh HUF)
- Price Band
- Fixed Price Offer at ₹70 per Equity Share (including share premium of ₹60); no price band
- Lot Size
- 2000
- Face Value
- ₹10.00
Business Model
The company earns revenue from manufacturing and selling Ferro Manganese and Silico-manganese produced in submerged electric arc furnaces at its Raipur plant — sold mainly through commission agents/brokers to steel-sector customers — supplemented by trading of manganese ore and sale of ferro alloy slag as a scrap by-product.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Archit Parakh | Promoter; Chairman & Managing Director | 1.68% | 1.48% |
| Mr. Aditya Parakh | Promoter | 31.70% | 27.79% |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.