Surani Steel Tubes Limited IPO
Surani Steel Tubes Limited IPO
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Surani Steel Tubes Limited's successfully completed its Initial Public Offering and commenced trading on 06-02-2019 at the NSE exchange. The company raised 24,84,000 Shares through this public offering, comprising 24,84,000 Shares in fresh capital.
The IPO was priced within the band of ₹51 to ₹52, with minimum application lots of 2000 shares. The offering attracted significant investor interest during its subscription period from 25-01-2019 to 29-01-2019.
Share allotment was finalized on 04-02-2019, distributing equity to successful applicants. The stock's subsequent listing marked a significant milestone in the company's corporate history, providing public market liquidity to shareholders.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Surani Steel IPO About Company
Surani Steel Tubes Limited, incorporated in 2012 and headquartered in Gujarat, is engaged in the manufacturing of Electric Resistance Welding mild steel pipes that are widely used in architectural, infrastructure, industrial, and engineering applications. The company primarily markets its products through an extensive dealer network and, as of March 31, 2018, was associated with more than 300 dealers across Gujarat, while also generating additional income from the sale of scrap material. It is ISO 9001:2015 certified for the manufacturing and supply of ERW pipes and operates a production facility at Dahegam in Gandhinagar district with an installed capacity of 25,000 metric tons per annum. To support future growth, the company is in the process of setting up a new manufacturing unit at the same location and currently employs 52 people across various operational and administrative functions.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Surani Steel IPO Strength Factors
- Wide product range in steel tubes The company manufactures and supplies a broad variety of steel tube products, catering to multiple sectors like infrastructure, construction, engineering, and industrial applications.
- Strong distribution network Surani Steel Tubes has an established market presence with connections to dealers, distributors, and customers across key regions, helping it maintain sales and supply continuity.
- Focus on quality and standards The company emphasizes manufacturing products that meet industry quality benchmarks and certifications, which enhances customer trust and supports repeat business.
Surani Steel IPO Risk Factors
NA
Surani Steel IPO Lead Manager(s)
- Pantomath Capital Advisors Private Limited
Surani Steel IPO Promoter(s)
- Mr. Mukesh Patel
- Mr. Dinesh Patel
- Mr. Karshan Patel
- Mr. Prakash Patel
- Mr. Mani Patel
- Prakash Karsanbhai Patel HUF
- Karsanbhai Devjibhai Patel HUF
Surani Steel IPO FAQs
Surani Steel Tubes Limited IPO subscribed 0 times. The public issue subscribed -- times in the retail category,--times in QIB, and -- times in the HNI (10+) category byDecember 30, 2025 6:25:01 AM (Day 30).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Surani Steel IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Surani Steel IPO FAQs
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