Incorporated in 2006, Electrosteel Integrated Ltd, promoted by Electrosteel Castings Ltd (ECL) is to setup a 2.2 MTPA Integrated Steel and Ductile Iron Spun Pipes project in Jharkhand, India. ECL has obtained mining blocks of iron ore and coking coal in the state of Jharkhand and has set up EIL for implementing the integrated steel and DI pipe plant.
ECL is in the business of manufacturing Cast Iron pipes for over four decades and Ductile Iron Spun Pipes. EIL are setting up the proposed plant near Siyaljori village in Bokaro District of Jharkhand. The proposed plant will be based on Blast Furnace (BF) - Basic Oxygen Furnace (BOF) - Billet Caster and Hot Rolling Route and will produce 1.2 MTPA of long steel products, comprising 0.5 MTPA of 5.5-12.0 mm diameter wire rods in coil form and 0.7 MTPA of reinforcement bars in straight lengths and bundled in the range of 8-32 mm and plain rounds upto 60mm diameter. The plant will have a 0.33 MTPA DI pipe production facility in the same complex and will be provided with hot metal from the Blast Furnaces. The plant will also have production facilities for 0.27 MTPA of Commercial Billets and 0.40 MTPA of Pig Iron.
Company has acquired approximately 1,723.44 acres of land for the proposed plant, taking into account the scope for future expansion. The area of land for the proposed plant is approximately 600 acres with another 20-300 acres of land that would be required for construction of storage space for materials.
Company Promoters:
The Promoters of the Company is Electrosteel Castings Limited.Objects of the Issue:
The objects of the Issue are as follows:1. To part finance the construction of Integrated Steel and D.I. pipe plant having a capacity of 2.2 MTPA in Jharkhand, India;
2. Margin money towards Bank Guarantees;
3. General Corporate Purposes; and
4. Create a public market for equity shares by listing securities of Company on Stock Exchanges.
Issue Detail:
»» Issue Open: Sep 21, 2010 - Sep 24, 2010
»» Issue Type: 100% Book Built Issue IPO
»» Issue Size: 225,516,188 Equity Shares of Rs. 10
»» Issue Size: Rs. 248.07 Crore
»» Face Value: Rs. 10 Per Equity Share
»» Issue Price: Rs. 10 - Rs. 11 Per Equity Share
»» Market Lot: 600 Shares
»» Minimum Order Quantity: 600 Shares
»» Listing At: BSE, NSE
Electrosteel Integrated Ltd IPO Grading / Rating
CARE has assigned an IPO Grade 3 to Electrosteel Integrated Ltd IPO. This means as per CARE company has 'Average Fundamentals'. CARE assigns IPO grading on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals. Click here to download the CARE IPO Grading Document for Electrosteel Integrated Ltd.
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