Newmalayalam Steel Share Price

Newmalayalam Steel Limited was incorporated on March 31, 2017 as NewMalayalam Steel Private Limited, a Private Limited Company with Registrar of Companies, Central Registration Centre. Further, Company was converted into a Public Limited Company and the name was changed to Newmalayalam Steel Limited and a fresh Certificate of Incorporation dated February 1, 2024 was issued by the Central Processing Centre. Company is engaged in manufacturing galvanised pipes, tubes, and sheets.The Company took over the entire business of M/s. Demac Steel on a going concern basis, through the Business Transfer Agreement in August 2017. In 2018, the Company commenced manufacturing of galvanised pipes, tubes, and sheets by installing another electric resistance welding tube mill of an installed capacity of 3,500 MT in their manufacturing unit at Thrissur, in Kerala. It increased manufacturing capacity by installing another electric resistance welding tube mill of an installed capacity of 4,000 MT in their unit in 2019. In order to market and sell products, the Company established a widespread dealer base in Kerala through which it sell products to local contractors and retailers. It also sell products to Promoter Group entity, Jaihind Steel Private Limited, who trades it to wholesalers, construction agencies, consumers etc. In 2022, the Company installed solar plant of an installed capacity of 489.77 kWp in Poyya Village and Kodungallur Taluk of Poyya Panchayath.Company came up with IPO by issuing 46,40,000 Equity Shares of Rs 10 each and raised a fresh issue of 41.76 crore in December 2024.