Newmalayalam Steel IPO Day 2: Subscription status, key dates, GMP, price band, and other details

Newmalayalam Steel's SME IPO, aiming to raise Rs 42 crore, offers shares at Rs 85-90 each, with a lot size of 1,600 shares. The company's shares are trading at a 28% premium in the unlisted market. Specializing in galvanized pipes, tubes, and sheets, Newmalayalam Steel has built a strong presence in Kerala. India's steel industry has seen steady growth, driven by raw material availability and labor costs.