Newmalayalam Steel Ltd Company Summary

Newmalayalam Steel Ltd Summary

Newmalayalam Steel Ltd was incorporated on March 31, 2017 as NewMalayalam Steel Private Limited, a Private Limited Company pursuant to a Certificate of Incorporation issued by Registrar of Companies, Central Registration Centre. Further, Company was converted into a Public Limited Company and consequently the Company name got changed to NewMalayalam Steel Limited and a fresh Certificate of Incorporation dated February 1, 2024 was issued by the Registrar of Companies, Central Processing Centre.The Company is engaged in the business of manufacturing galvanised pipes, tubes, and sheets. Owing to the consistent efforts of the Promoters, the Company has been able to create a brand presence in Kerala, under the name of Demac Steel.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.The Company is proposing the Initial Public Offer of 46,40,000 Fresh Issue Equity Shares.