The Abha Power and Steel IPO, amounting to Rs 38.54 crores, has been structured as a fixed price issue. It comprises a fresh issue of 41.39 lakh shares, aggregating to Rs 31.04 crores, and an offer for sale of 10 lakh shares, aggregating to Rs 7.50 crores.
The IPO is scheduled to open for subscription on November 27, 2024, and will close on November 29, 2024. The finalization of allotments is expected to take place on Monday, December 2, 2024. The IPO is set to be listed on the NSE SME, with the tentative listing date being Wednesday, December 4, 2024.
A price of ₹75 per share has been set for the IPO. A minimum lot size of 1600 shares has been defined for applications. An investment of ₹120,000 is required as the minimum amount for retail investors, while a minimum of 2 lots (3,200 shares), equating to ₹240,000, is needed for HNI investors.
Get the Abha Power and Steel IPO RHP for detailed information.
| IPO Date | November 27, 2024 to November 29, 2024 |
| Listing Date | December 4, 2024 |
| Face Value | ₹ 10 / Share |
| Price Band | ₹ 75 to ₹ -- / Share |
| Lot Size | 1600 Shares |
| Total Issue Size | ₹38.54 Cr |
| Fresh Issue | ₹31.04 Cr |
| Offer for Sale | ₹7.50 Cr |
| Employee Discount | |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 14,448,630 |
| Share holding post issue | 18,587,830 |
| Market Maker portion | 262,400 shares |
Abha Power and Steel Limited IPO opens on November 27, 2024, and closes on November 29, 2024.
| IPO Open Date | November 27, 2024 |
| IPO Close Date | November 29, 2024 |
| Basis of Allotment | December 2, 2024 |
| Initiation of Refunds | December 3, 2024 |
| Credit of Shares to Demat | -- |
| Listing Date | December 4, 2024 |
| Cut-off time for UPI mandate confirmation | November 29, 2024 |
Bids can be placed by investors for a minimum of 1600 shares and in multiples thereafter. The table below illustrates the minimum and maximum investment required by retail investors and HNIs in terms of both shares and monetary value.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,600 | |
| Retail (Max) | 1 | 1,600 | |
| S-HNI (Min) | 2 | 3,200 | |
| S-HNI (Max) | |||
| B-HNI (Min) | |||
| HNI (Min) |
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue | 72.35% |
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | |
|
| Market Maker Shares Offered | |
|
| Other Shares Offered | |
|
| QIB Shares Offered | |
|
| NII (HNI) Shares Offered | |
|
| bNII > ₹10L | |
|
| sNII < ₹10L | |
|
| Retail Shares Offered | 50% of the Net Issue |
|
| Employee Shares Offered | |
|
| Total Shares Offered | 50% of the Net Issue |
| Bid Date | |
| Shares Offered | |
| Anchor Portion Size (In Cr.) | |
| Anchor lock-in period end date for 50% shares (30 Days) | |
| Anchor lock-in period end date for remaining shares (90 Days) |
Established in 2004, Abha Power and Steel Limited has been engaged in the casting and manufacturing of iron and steel products. A wide range of products, including mild steel, manganese steel, stainless steel, and low and high-alloy castings, is produced by the company.
Two foundries—SG Iron Foundry and Steel Foundry—along with a manufacturing facility, are operated by the company in Bilaspur, Chhattisgarh, spanning an area of approximately 319,200 square feet.
The facility has been certified with ISO 9001:2015 for the design, development, manufacturing, and supply of iron and steel castings and assemblies. These products are utilized in industries such as steel, power, and cement. Parts for the Indian Railways, including SGCI inserts, adapters of all types, valve castings, and similar components, are also manufactured. As of March 31, 2024, the total installed capacity of the plant was reported as 14,400 metric tonnes per annum (MTPA).
A diverse portfolio of over 1,000 products is maintained, catering to various industries.
The company's products have been supplied to clients such as Vishal Nirmiti Private Limited, Raghavendra Rail Lines Pvt. Ltd., The Indian Hume Pipe Co. Ltd., Beekay Engg Corporation, Ashi Limited, SECR Railway, SCR Railway, Supertech Rail Infra Projects Pvt. Ltd., Northern Railway, and Orissa Concrete & Allied Industries Ltd., among others.
| KPI | Values |
|---|---|
| ROE | 24.17% |
| ROCE | 23.64% |
| Debt/Equity | 1.35 |
| RoNW | 24.17% |
| P/BV | 6.18 |
| PAT Margin (%) | 7.31 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.62 | 3.89 |
| P/E (x) | 28.65 | 19.26 |
The Net Proceeds are proposed to be utilized by the Company for the following objectives:
Abha Power and Steel Limited Silpahri Industrial State, Bilaspur, 495001 Phone: +91 93022 21587 Email: cs@abhacast.com Website: https://abhacast.com/ |
Skyline Financial Services Private Ltd Phone: 02228511022 Email: ipo@skylinerta.com Website: https://www.skylinerta.com/ipo.php |
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