Abha Power and Steel IPO
GMP, Subscription, Price, Dates & Financial Details
Abha Power and Steel Limited, located in the industrial heart of Chhattisgarh, India, specializes in the manufacturing of iron and steel castings. The company produces a wide range of products in various grades, including mild steel, spheroidal graphite cast iron, stainless steel, and high alloy…
Open Date
Wed, 27 Nov 2024
Close Date
Fri, 29 Nov 2024
Issue Price
₹ 75
Lot Size
1600
Issue Size
₹ 38.54 Cr
Minimum Investment
₹ 240,000 (3200 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Abha Power and Steel IPO has successfully completed its IPO process and is now listed on NSE SME Platform. According to the Red Herring Prospectus (RHP), the IPO was a fixed price issue with a total issue size of ₹38.54 Crore, comprising a fresh issue of 41.39 Lakh equity shares aggregating to ₹31.04 Crore and an offer for sale (OFS) of 10.00 Lakh equity shares aggregating to ₹7.50 Crore by the existing shareholders.
The Abha Power and Steel IPO remained open for subscription from November 27, 2024, to November 29, 2024. The basis of allotment was finalized on December 02, 2024, and the company's shares were listed on NSE SME Platform on December 04, 2024.
The company had fixed the price at ₹75 per share, with a lot size of 1600 shares. Retail investors were required to make a minimum investment of ₹240,000 (based on the upper price band) to apply for one lot.
Skyline Financial Services Private Ltd served as the registrar to the issue. acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Abha Power and Steel Limited is now a publicly listed company on NSE SME Platform. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Abha Power and Steel IPO Timeline (Tentative)
- IPO Open Date
- Wed, 27 Nov 24
- IPO Close Date
- Fri, 29 Nov 24
- Basis of Allotment
- Mon, 02 Dec 24
- Initiation of Refunds
- Tue, 03 Dec 24
- Credit of Shares to Demat
- Tue, 03 Dec 24
- Listing Date
- Wed, 04 Dec 24 — NSE & BSE
Open Date
27 November 2024
Close Date
29 November 2024
Basis Of Allotment
02 December 2024
Listing Date
04 December 2024
IPO Subscription
Check Live Subscription →The Abha Power and Steel IPO has received bids for 8,56,06,400 shares against 48,76,800 shares offered, resulting in an overall subscription of 17.55x. the NII category is subscribed 9.17x, Retail Investors 24.93x, and QIBs 0x.
QIB
0x
NII
9.17x
RII
24.93x
Total
17.55x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 24,38,400 shares, representing 47.45% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 0 shares (%), while Non-Institutional Investors (NIIs) receive 24,38,400 shares (47.45%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Market Maker | 262,400 | 5.11% |
| Non-Institutional | 2,438,400 | 47.45% |
| Retail Investors | 2,438,400 | 47.45% |
| Total | 5,139,200 | 100% |
Financials Details(₹ in Crores)
| Particular | 15 Oct 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 5135.61 | 4735.9 | 4476.89 | 3536.87 |
| Revenue | 3754.92 | 5182.68 | 5511.82 | 5498.4 |
| Profit After Tax | 361.97 | 378.19 | 140.14 | -71.53 |
| Net Worth | 2115.63 | 1753.66 | 1375.47 | 1120.07 |
| Reserve & Surplus | 670.76 | 308.8 | 893.85 | 678.47 |
| Total Borrowings | 2177.34 | 2373.22 | 2393.34 | 1765.62 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Abha Power and Steel Limited KPI Information
| Particular | KPI as of October 15, 2024. |
|---|---|
| ROE % | 24.17 |
| ROCE % | 23.64 |
| Debt / Equity | 1.35 |
| RoNW % | 24.17 |
| PbW | 6.18 |
| Pat Margin % | 7.31 |
Peers Comparison
No Peer Comparision Available
About Abha Power and Steel Limited
Abha Power and Steel Limited, located in the industrial heart of Chhattisgarh, India, specializes in the manufacturing of iron and steel castings. The company produces a wide range of products in various grades, including mild steel, spheroidal graphite cast iron, stainless steel, and high alloy castings. Its product range caters to industries such as railways, steel, cement, heavy engineering, mining, and power, with both standard and customized products.
The company has a strong reputation in the industry, with over 20 years of experience, and is known for its focus on quality, safety, and competitive pricing. Abha Power and Steel is a certified supplier to Indian Railways, National Mineral Development Corporation, and Integral Coach Factory, among others. It also exports its products to over six countries, including the UAE, Germany, Canada, Italy, and the Netherlands.
Abha Power and Steel operates two foundries—an SG iron foundry and a steel foundry—at its manufacturing facility in Bilaspur, Chhattisgarh, which spans 319,200 square feet. The facility is ISO 9001:2015 certified and has an installed capacity of 14,400 metric tonnes per annum (MTPA). It is equipped with modern infrastructure for melting, pouring, molding, heat treatment, and testing.
Additionally, the company has invested in a 2.99 MW captive solar power plant, which accounts for 35% of its total energy consumption, helping reduce operational costs and promoting sustainability. Moving forward, Abha Power and Steel plans to expand its solar power capacity to reduce dependence on external electricity supplies and enhance self-sufficiency.
Abha Power and Steel IPO Promoters
- Subhash Chand Agrawal
- Satish Kumar Shah
- Ankit Agrawal
- Atish Agrawal
- Leela Devi Agrawal
- Sunflower Commotrade Private Limited
Promoters Holding
Holding Pre Issue
100.00%
Holding Post Issue
72.35%
Abha Power and Steel IPO Objective
The Company proposes to utilize the Net Proceeds towards funding the following objectives:
- Funding the capital expenditure towards modernization and upgradation of the manufacturing facilities in Bilaspur, Chhattisgarh to expand its product portfolio.
- Funding working capital requirements of the Company.
- General Corporate Purposes.
Abha Power and Steel Limited Address / Contact Details
Abha Power and Steel Limited
Silpahri Industrial State,
Bilaspur,Chhattisgarh - 495001
Phone: +91 93022 21587
Email: cs@abhacast.com
Website: https://abhacast.com/
IPO Snapshot
Abha Power and Steel IPO Lot Size
The Abha Power and Steel IPO has a lot size of 1,600 shares. Retail investors require a minimum investment of ₹1,20,000 by applying for 1 lot (1,600 shares). The maximum application allowed for the retail category is 1 lots (1,600 shares), requiring an investment of ₹1,20,000.
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 1,600 | 120,000.00 |
| Retail (Max) | 1 | 1,600 | 120,000.00 |
| S-HNI (Min) | 2 | 3,200 | 240,000.00 |
Issue Reservation
- Market Maker — 5.11%
- NII — 47.45%
- RII — 47.45%
Book Running Lead Managers
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Abha Power and Steel IPO?
Abha Power and Steel IPO is a Fixed price IPO with a total issue size of ₹38.54 crore. The Abha Power and Steel IPO price band is ₹75 to 75 per share. The Abha Power and Steel IPO subscription opens on Wed, Nov 27, 2024, and closes on Fri, Nov 29, 2024. The Abha Power and Steel IPO will be listed on the NSE. Skyline Financial Services Private Ltd is the registrar for the Abha Power and Steel IPO.
When will the Abha Power and Steel IPO open for subscription?
The Abha Power and Steel IPO opens on Wed, Nov 27, 2024 and closes on Fri, Nov 29, 2024
What is Abha Power and Steel IPO Price Band?
Abha Power and Steel IPO Price Band is ₹75 to 75 per share.
What is Abha Power and Steel IPO Lot Size?
Abha Power and Steel IPO lot size is 1600 shares, Retail investors need a minimum investment of ₹240000 based on the upper price band
What is the minimum investment for Abha Power and Steel IPO?
The minimum investment for Abha Power and Steel IPO is ₹240000, based on one lot of 1600 shares at the upper price band of ₹75 per share.
How to apply for Abha Power and Steel IPO?
Investors can apply for the Abha Power and Steel IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Fri, Nov 29, 2024. The application amount remains blocked until the Abha Power and Steel IPO allotment is finalized.
What is Abha Power and Steel IPO Issue Size?
Abha Power and Steel IPO issue size is ₹38.54 crores.
What is the Abha Power and Steel IPO Allotment Date?
Abha Power and Steel IPO allotment date is Mon, Dec 2, 2024.
Who is the Abha Power and Steel IPO Registrar?
The registrar for Abha Power and Steel IPO is Skyline Financial Services Private Ltd. Investors can go to Skyline Financial Services Private Ltd website to check Abha Power and Steel IPO allotment status, refund processing, and other IPO-related information.
What is the Abha Power and Steel IPO GMP?
The Abha Power and Steel IPO GMP (Grey Market Premium) is ₹15 as of Wed, Dec 4, 2024. Based on the upper price band of ₹75 per share, the estimated Abha Power and Steel IPO listing price is ₹90, indicating a potential listing gain of approximately 20.00% over the issue price.
Who is the Abha Power and Steel IPO Lead Manager?
The book-running lead managers (BRLMs) for the Abha Power and Steel IPO are . The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Abha Power and Steel IPO Red Herring Prospectus (RHP).