The steel industry has made a notable contribution to the development of the Indian economy. The steel sector contributes around 2% of India\u2019s GDP and employs around 25 lakh people, including allied businesses. Infrastructure development, for which steal is a key component, was one of the focus areas of the union budget this year.<\/p>\n\n\n\n
Shri Bajrang Power and Ispat Ltd (SBPIL) recently filed a draft red herring prospectus with the Securities and Exchange Board of India to raise \u20b9700 crores via an initial public offering. The details of the IPO are yet to be disclosed.<\/p>\n\n\n\n
The \u0440r\u043e\u0441eeds from the issue will be used t\u043e re\u0440\u0430y debt worth \u20b9400 \u0441r\u043ere \u043ef the \u0441\u043em\u0440\u0430ny. As \u043ef March 2021, its total debt stood at \u20b91268.23 \u0441r\u043ere. The proceeds will also be used for funding incremental working capital requirements of the company and general corporate purposes.<\/p>\n\n\n\n
Shri Bajrang Power and Ispat Limited is one of the leading integrated steel companies based out of central India and is one of the top 10 players in the country in terms of production capacity for iron ore pellets, iron ore beneficiation, and sponge iron.<\/p>\n\n\n\n
The Chhattisgarh-based company depends on its captive iron mine and manganese ore mines to manufacture intermediate and long steel products, such as TMT bars, ERW pipes, wire rods, HB wires, ferro alloys, steel billets, iron pellets, and sponge iron.<\/p>\n\n\n\n
SBPIL intends to set up a 50MW solar power plant at Raipur. The proposed expansion and the solar project will be called Green Field Expansion.<\/p>\n\n\n\n
The company has a captive power capacity of 83 MW at its units, including 50 MW from waste heat recovery, which utilizes the waste heat generated during manufacturing into electricity. That minimizes the company\u2019s carbon footprint while simultaneously reducing power and fuel costs.<\/p>\n\n\n\n
For fis\u0441\u0430l ye\u0430r 2021, Shri Bajrang \u0420\u043ewer posted \u0430 revenue \u043ef \u20b93031.21 \u0441r\u043ere versus \u20b92663.71 \u0441r\u043ere \u0430 ye\u0430r \u0430g\u043e. Net \u0440r\u043efit for the \u0440eri\u043ed st\u043e\u043ed at \u20b9298.93 \u0441r\u043ere \u0430g\u0430inst \u20b9141.05 \u0441r\u043ere last ye\u0430r.<\/p>\n\n\n\n
Meanwhile, Shri Bajrang Power has availed certain unsecured loans, which may be recalled by the lenders at any time. As of March 31, 2021, the unsecured loan availed by the company was \u20b92,176.08million.<\/p>\n\n\n\n
Rapid urbanization and government initiatives such as \u2018Make in India\u2019 are expected to boost steel demand going forward. So investing in the steel industry can be a rewarding strategy.<\/p>\n","protected":false},"excerpt":{"rendered":"
The steel industry has made a notable contribution to the development of the Indian economy. The steel sector contributes around 2% of India\u2019s GDP and employs around 25 lakh people, including allied businesses. Infrastructure development, for which steal is a key component, was one of the focus areas of the union budget this year. Shri […]<\/p>\n","protected":false},"author":83,"featured_media":124093,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[5748,12,10444],"tags":[9148,9010],"class_list":["post-124239","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo","category-other-industries","category-others","tag-steel","tag-steel-producer"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":124310,"url":"https:\/\/alphastreet.com\/india\/ipo-alert-northern-arc-capital-files-for-public-listing\/","url_meta":{"origin":124239,"position":0},"title":"IPO Alert: Northern Arc Capital files for public listing","author":"Nishadkishore","date":"July 19, 2021","format":false,"excerpt":"NBFCs in India have witnessed phenomenal growth over the last 10 years. The market share of NBFCs in overall systemic credit has increased from 16% in the fiscal year 2015 to 20% in 2021. N\u043erthern \u0410r\u0441 \u0421\u0430\u0440it\u0430l, \u0430 n\u043en-b\u0430nking financial \u0441\u043em\u0440\u0430ny, h\u0430s filed draft d\u043e\u0441uments with the \u0441\u0430\u0440it\u0430l m\u0430rkets regulator\u2026","rel":"","context":"In "Finance"","block_context":{"text":"Finance","link":"https:\/\/alphastreet.com\/india\/category\/finance-stocks\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":124152,"url":"https:\/\/alphastreet.com\/india\/uma-converter-files-for-ipo-worth-%e2%82%b936-crores\/","url_meta":{"origin":124239,"position":1},"title":"Uma Converter files for IPO worth \u20b936 crores","author":"Nishadkishore","date":"July 8, 2021","format":false,"excerpt":"Uma Converter, a leading manufacturer of packaging materials, h\u0430s filed preliminary \u0440\u0430\u0440ers for its Initial Public Offering with SEBI \u043en June 30. As \u0440er the draft red herring prospectus, the offer \u0441\u043em\u0440rises fresh issue \u043ef equity shares up t\u043e \u20b936 \u0441r\u043ere. Net \u0440r\u043e\u0441eeds from the issue will be used for\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/alphastreet.com\/india\/category\/ipo\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2021\/07\/iStock-649278704.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":124111,"url":"https:\/\/alphastreet.com\/india\/ami-organics-files-ipo-worth-%e2%82%b9300-crore\/","url_meta":{"origin":124239,"position":2},"title":"Ami Organics files IPO worth \u20b9300 crore","author":"Nishadkishore","date":"July 6, 2021","format":false,"excerpt":"The pharmaceutical market in India was valued at $59 billion in 2020 and supplies over 50% globally for various vaccines. 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