Sampat Aluminium
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 17 Sep 2025 – 19 Sep 2025
- Listing date
- 24 Sep 2025
- Face value
- ₹1 per share
- Issue price
- ₹120 per share
- Lot size
- 1,200 shares
- Issue type
- Book Building issue
- Listing at
- BSE
- Total issue size
- ₹30.53 Cr
- Market cap at offer price
- ₹102 Cr
- Promoter holding
- 90.96% → 63.68% pre-issue → post-issue
- ISIN
- INE10XS01012
- Registrar
- Cameo Corporate Services Ltd.
- Lead managers
- Marwadi Chandarana Intermediaries Brokers Pvt.Ltd.
- Registered office
- Block No 265, Rakanpur, Opp., Manpasand Waybridge, Kalol, Gujarat
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 7,09,200 | — | — |
| Market maker | 1,68,000 | — | — |
Application size
Minimum 1,200 shares per lot, in multiples, at ₹120
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,200 | ₹1,44,000 |
| S-HNI (min) | 2 | 2,400 | ₹2,88,000 |
| S-HNI (max) | 6 | 7,200 | ₹8,64,000 |
| B-HNI (min) | 7 | 8,400 | ₹10,08,000 |
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.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 11.68 | 11.86 |
| P/E (×) | 10.27 | 10.12 |
| Price to book (×) | 3.13 | — |
| Market cap | — | ₹102 Cr |
Key performance indicators
- Return on net worth
- 30.82%
- ROCE
- 23.13%
- Debt / equity
- 1.05
- PAT margin
- 5.22%
- EBITDA margin
- 8.70%
- NAV per share
- ₹38.30
- Price to book
- 3.13
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Sampat Aluminium
Sampat Aluminium Limited, originally incorporated as a private limited company on June 11, 1999, was converted to a public limited company in September 2024. The company is engaged in manufacturing aluminium long products including aluminium wires and aluminium rods through the procurement of aluminium ingots and recycling of aluminium scrap. The company utilizes the 'Properzi process' to manufacture continuously cast and hot-rolled aluminium products with a portfolio of aluminium wires in sizes of 5.5 MM and 6.5 MM, and aluminium rods in sizes of 7.5 MM, 9.5 MM, 12.5 MM, 16 MM and 20 MM. The company operates from its sole manufacturing facility located at Kalol, Gujarat, and serves customers across 14 states and 2 union territories, with significant presence in Gujarat and Maharashtra. Revenue from operations was ₹5,228.31 Lakhs for the period ended July 31, 2025, ₹13,271.85 Lakhs for FY 2025, ₹14,701.30 Lakhs for FY 2024, and ₹12,922.11 Lakhs for FY 2023.
Company Analysis
from RHPSampat Aluminium Limited manufactures aluminium long products (wires and rods) through procurement and recycling of aluminium materials, serving multiple industrial sectors across India.
Sampat Aluminium Limited, originally incorporated as a private limited company on June 11, 1999, was converted to a public limited company in September 2024. The company is engaged in manufacturing aluminium long products including aluminium wires and aluminium rods through the procurement of aluminium ingots and recycling of aluminium scrap. The company utilizes the 'Properzi process' to manufacture continuously cast and hot-rolled aluminium products with a portfolio of aluminium wires in sizes of 5.5 MM and 6.5 MM, and aluminium rods in sizes of 7.5 MM, 9.5 MM, 12.5 MM, 16 MM and 20 MM. The company operates from its sole manufacturing facility located at Kalol, Gujarat, and serves customers across 14 states and 2 union territories, with significant presence in Gujarat and Maharashtra. Revenue from operations was ₹5,228.31 Lakhs for the period ended July 31, 2025, ₹13,271.85 Lakhs for FY 2025, ₹14,701.30 Lakhs for FY 2024, and ₹12,922.11 Lakhs for FY 2023.
Objects of the Issue
- Setting up a new manufacturing facility located at Borisana, Mehsana in Gujarat ₹2,332.05 Lakhs p.22
- General Corporate Expenses p.22
- Setting up a new manufacturing facility at Borisana, Mehsana in Gujarat for manufacturing of continuously cast and hot-rolled aluminium products i.e Aluminum Rods and wires ₹2,332.05 lakhs p.81
- General corporate purposes [●] lakhs (not to exceed 15% of Gross Proceeds or ₹1,000 Lakhs whichever is lower) p.81
- Funding capex for the proposed manufacturing facility at Borisana, Gujarat for increasing production capacity of aluminium rods and wires ₹1,011.00 Lakhs p.122
- Not stated in document Part 4
Issue Structure
- Total Issue
- ₹[●] Lakhs (up to 25,44,000 equity shares of face value ₹10 each)
- Fresh Issue
- Up to 25,44,000 Equity Shares aggregating up to ₹[●] Lakhs
- Offer for Sale
- N.A.
- Price Band
- Floor Price ₹[●] and Cap Price ₹[●] (to be decided by Company in consultation with BRLM)
- Lot Size
- [●] (to be decided by Company in consultation with BRLM)
- Face Value
- ₹10 per Equity Share
Business Model
The company manufactures aluminium rods and wires primarily through procurement of aluminium ingots and recycling of aluminium scrap, utilizing the Properzi process. Revenue is generated through the sale of these manufactured aluminium products to customers primarily on a purchase order basis, with cost of raw materials representing approximately 83-98% of revenues. The company faces dependencies on external suppliers for its major raw material (aluminium) and on third-party transportation providers for delivery of raw materials and finished products.
Business Segments
SWOT Analysis
- • Established manufacturing presence with proven operational capability(p.22)
- • Wide product range across multiple specifications for customer flexibility(p.22)
- • Geographic market presence across multiple states and union territories(p.22)
- • Promoter control ensures strategic continuity and aligned decision-making(p.49)
- • Strong profitability with improving EBITDA margin trajectory(p.94)
- • Solid return on equity demonstrating efficient use of shareholder capital(p.94)
- • Net asset value per share has grown substantially over recent years(p.92)
- • Diversified customer base with pan-India presence reducing concentration risk(p.118)
- • Long-standing relationships with customers spanning over two decades(p.118)
- • Experienced promoter management with over two decades in aluminium manufacturing(p.116)
- • Consistent track record of growth in revenue and profitability(p.121)
- • Efficient supplier network with long-standing relationships enabling cost benefits(p.119)
- • Geographic presence across 13 states and 2 Union Territories(p.120)
- • Zero-wastage manufacturing facility with recycling capability(p.115)
- • ISO 9001:2015 certified quality management system(p.115)
- • Sole manufacturing facility concentration creates operational vulnerability(p.34)
- • Significant revenue concentration from top customers limits diversification(p.32)
- • High dependency on aluminium raw material sourcing with no long-term supply agreements(p.30)
- • Negative operating cash flows in recent periods indicating liquidity challenges(p.33)
- • Chronic delays and defaults in statutory dues payments and filing obligations(p.35)
- • Trademark not yet legally registered limiting brand protection(p.40)
- • Significant outstanding litigation and contingent liabilities against the company(p.25)
- • Heavy dependence on a concentrated customer base creates revenue vulnerability(p.49)
- • Inability to declare dividends constrains shareholder returns in near term(p.49)
- • Significant short-term debt obligations pose refinancing risk(p.54)
- • Existing manufacturing unit operates at substantially below full capacity(p.83)
- • Outdated machinery and manual processes limit production efficiency(p.83)
- • High material cost intensity representing 83-98% of revenue(p.115)
- • Top 5 customers concentrated at 38.66% of FY2025 revenue(p.118)
- • Low capacity utilization at 63.78% as of July 31, 2025(p.122)
- • Aluminium wire production significantly underutilized at 16.27%(p.122)
- • Dependence on locally available water supply without long-term agreements(p.125)
- • No long-term agreements with raw material suppliers(p.125)
- • High GST demand and disputes(p.173)
- • Significant contingent GST liabilities under dispute(p.220)
- • Reliance on related party transactions(p.211)
- • High debt burden with personal guarantees(p.179)
- • Concentrated machinery and equipment risk(p.179)
- • Plant wear and tear impacting output(p.207)
- • Planned expansion of manufacturing capacity through new facility development(p.22)
- • Growing global aluminium market with increased recyclable material demand(p.22)
- • Market expansion beyond current geographic concentration in Gujarat-Maharashtra(p.32)
- • Planned capacity expansion to 33,400 MTPA will triple production capability(p.83)
- • New manufacturing facility with modern machinery will enable continuous production and operational efficiency(p.84)
- • India's strong economic growth and manufacturing sector expansion creates rising demand(p.107)
- • Government's Make in India and PLI schemes support manufacturing sector growth(p.108)
- • Expansion of manufacturing capacity through Borisana facility targeting 25,000 MTPA(p.121)
- • India's aluminium demand projected to double by 2025 and reach 9 million tonnes by 2033(p.114)
- • Government initiatives supporting aluminium consumption through infrastructure and renewable energy(p.112)
- • Domestic aluminium demand growth projected at 9% in next two fiscal years(p.112)
- • India's strong bauxite reserves ranking fourth globally with high-quality deposits(p.113)
- • Global aluminium consumption projected to rise 33.3 million tonnes by 2030(p.113)
- • Aluminium consumption driven by electric vehicles, renewables and infrastructure(p.114)
- • India targeting Rs. 2,13,925 crore in aluminium exports by 2035(p.110)
- • Growth in aluminium rod and wire sales volume(p.209)
- • Improved profitability and margins(p.210)
- • Scale benefits with controlled expense growth(p.210)
- • High volatility and external dependency on aluminium raw material pricing and availability(p.30)
- • Customer business dependent on purchase orders with no long-term contractual commitments(p.31)
- • Geographic revenue concentration creates exposure to regional economic downturns(p.32)
- • Intense competition from organized and unorganized players in fragmented market(p.43)
- • Capacity underutilization affecting operational efficiency and profitability(p.34)
- • Raw material costs consume majority of revenues limiting margin flexibility(p.30)
- • Changes in government regulations and tax policies could disrupt operations(p.47)
- • Political instability and changes in economic liberalization policies create uncertainty(p.47)
- • Promoter shareholding dilution could adversely impact share price if stakes are sold(p.49)
- • Significant stock market volatility and lack of price stability for newly listed shares(p.50)
- • No public market history prior to IPO creates uncertainty around fair valuation(p.50)
- • Uncertainty regarding sustained active trading market liquidity post-listing(p.50)
- • Capital gains tax liability for investors holding shares less than 12 months(p.49)
- • High dependence on government power supply without backup alternatives(p.125)
- • Global aluminium market currently in deficit creating input cost pressures(p.113)
- • Intense competition from both organized and unorganized players(p.126)
- • India's low per capita aluminium consumption indicating market maturity risk(p.113)
- • Environmental regulations and compliance requirements for manufacturing operations(p.126)
- • India's small share of 1.47% in global aluminium production limiting scale(p.113)
- • Regulatory scrutiny on input tax credit claims(p.221)
- • Extensive indirect tax demands and penalties(p.174)
- • Competition from unorganized manufacturers(p.211)
- • Liability related to Group Company arbitration(p.216)
- • Raw material price volatility(p.204)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Ekta Sanket Deora | Promoter | 45.48% | — |
| Sampat Heavy Engineering Limited | Promoter | 34.80% | — |
| Sanket Sanjay Deora | Promoter | 3.89% | — |
| Sanjay Vimalchand Deora | Promoter | 3.04% | — |
| Vimalchand Udaychand Deora | Promoter | Nil | — |
| Vimalchand U. Deora HUF | Promoter | Nil | — |
| Sanket Deora | Promoter | 3.89% | [●]% |
| Sanjay Deora | Promoter | 3.04% | [●]% |
| Ekta Deora | Promoter | 45.48% | [●]% |
| Sampat Heavy Engineering Limited | Promoter | 34.80% | [●]% |
| Vimalchand Udaychand Deora | Promoter | — | [●]% |
| Vimalchand U Deora HUF | Promoter | — | [●]% |
| Sneha Deora | Promoter Group | 3.75% | [●]% |
| Sanket Sanjay Deora | Promoter | 3.89% | — |
| Sanjay Vimalchand Deora | Promoter | 3.04% | — |
| Ekta Sanket Deora | Promoter | 45.48% | — |
| Vimalchand Udaychand Deora | Promoter | — | — |
| Vimalchand U. Deora HUF | Promoter | — | — |
| Sampat Heavy Engineering Limited | Promoter | 34.80% | — |
| Sampat Heavy Engineering Limited | Promoter | 34.80% | — |
| Ekta Deora | Promoter | 45.48% | — |
| Sanket Deora | Promoter | 3.89% | — |
| Sanjay Deora | Promoter | 3.04% | — |
| Sneha Sanjay Deora | First Director | — | — |
| Patel Srikant Ramanbhai | First Director | — | — |
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.