The Aditya Ultra Steel IPO, amounting to Rs 45.88 crores, is being issued as a book built issue. The issue comprises a fresh issue of 74 lakh shares.
The Aditya Ultra Steel IPO was opened for subscription on September 9, 2024, and will be closed on September 11, 2024. The allotment for the Aditya Ultra Steel IPO is expected to be finalized on Thursday, September 12, 2024. The IPO is expected to be listed on NSE SME, with the tentative listing date set for Monday, September 16, 2024.
The price band for the Aditya Ultra Steel IPO is set at ₹59 to ₹62 per share. A minimum lot size of 2000 shares is required for an application. The minimum investment amount required by retail investors is ₹124,000. For HNI investors, a minimum lot size investment of 2 lots (4,000 shares), amounting to ₹248,000, is required.
Refer to Aditya Ultra Steel IPO RHP for brief information.
| IPO Date | September 9, 2024 to September 11, 2024 |
| Listing Date | September 16, 2024 |
| Face Value | ₹ 10 / Share |
| Price Band | ₹ 59 to ₹ 62 / Share |
| Lot Size | 2000 Shares |
| Total Issue Size | 7,400,000 share (Aggregating up to ₹45.88 Cr) |
| Fresh Issue | 7,400,000 (Aggregating up to ₹45.88 Cr) |
| Offer for Sale | |
| Employee Discount | |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 17,435,568 |
| Share holding post issue | 24,835,568 |
| Market Maker portion |
Aditya Ultra Steel Limited IPO opens on September 9, 2024, and closes on September 11, 2024.
| IPO Open Date | September 9, 2024 |
| IPO Close Date | September 11, 2024 |
| Basis of Allotment | September 12, 2024 |
| Initiation of Refunds | September 13, 2024 |
| Credit of Shares to Demat | September 13, 2024 |
| Listing Date | September 16, 2024 |
| Cut-off time for UPI mandate confirmation | September 11, 2024 |
A minimum of 2000 shares, and multiples thereof, can be bid for by investors. The minimum and maximum investments by retail investors and HNI, in terms of shares and amount, are depicted in the table below.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | Rs.124,000 |
| Retail (Max) | 1 | 2,000 | Rs.124,000 |
| S-HNI (Min) | |||
| S-HNI (Max) | |||
| B-HNI (Min) | 2 | 4,000 | Rs.248,000 |
| HNI (Min) |
| Share Holding Pre Issue | 97.94% |
| Share Holding Post Issue | 68.76% |
A total of 74,00,000 shares are offered in the Aditya Ultra Steel IPO. Of these, 35,12,000 shares (47.46%) are allocated to QIBs, 10,56,000 shares (14.27%) to NIIs, and 24,62,000 shares (33.27%) to RIIs.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | |
|
| Market Maker Shares Offered | |
|
| Other Shares Offered | |
|
| QIB Shares Offered | 35,12,000 (47.46%) |
|
| NII (HNI) Shares Offered | 10,56,000 (14.27%) |
|
| bNII > ₹10L | |
|
| sNII < ₹10L | |
|
| Retail Shares Offered | 24,62,000 33.27% |
|
| Employee Shares Offered | |
|
| Total Shares Offered | 74,00,000 100% |
| 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) |
Aditya Ultra Steel Limited was established in July 2011 and is primarily involved in the production of rolled steel products, such as TMT bars, under the Kamdhenu brand, primarily for the building and infrastructure development sectors. The company is supported by a group of youthful and seasoned businesspeople with more than 17 years of combined experience in the steel industry. The TMT production facility, which occupies 17 acres, is situated in the Rajkot District's Bhalgam. They produce TMT bars in the following sizes: 8 mm, 10 mm, 12 mm, 16 mm, 20 mm, 25 mm, and 32 mm.
The company uses a rolling mill and reheating furnace to create TMT bars from billets. They have been in the TMT bar manufacturing business for more than 12 (twelve) years. TMT bars are designed, made, and sold on a business-to-business (B2B) basis.
The majority of the clientele is dispersed over Gujarat. They have a production facility with testing labs, worker housing, a canteen, and convenient access to transportation at Survey No-48, Wankarner Boudry, Bhalgam, National Highway 8-A, Wankaner, Rajkot, Wankaner, Gujarat-363621, India.
The market capitalization of Aditya Ultra Steel IPO is Rs 153.98 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 23.92% |
| ROCE | 18.75% |
| Debt/Equity | 1.44 |
| RoNW | 21.08% |
| P/BV | 2.83 |
| PAT Margin (%) | 1.35 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.54 | 3.19 |
| P/E (x) | 13.64 | 19.43 |
The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2024 that is available in RHP.
The net proceeds from the issue are intended to be used by the company towards these objectives:
- Capital expenditure is intended to be met using the proceeds.
- Working capital requirements are intended to be met using the proceeds.
- General corporate purposes are intended to be funded using the proceeds.
- The public issue expenses are intended to be met using the proceeds.
Aditya Ultra Steel Limited Survey No.888/807/810, FP-25,28,T 808-C, |
Cameo Corporate Services Limited Phone: +91-44-28460390 |
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