Abha Power and Steel IPO Details
The Abha Power and Steel IPO is a fixed price issue with a total issue size of ₹38.54 cr, comprising of fresh issue of 4139200 equity shares., and a offer for sale of 1000000 equity shares. Abha Power and Steel IPO opened for subscription on Nov 27, 2024 and closed on Nov 29, 2024. Abha Power and Steel IPO has set the price at ₹75 per share, with a lot size of 1600 shares. Minimum investment for Retail investors was ₹240,000.00 (at the upper price band) to apply for one lot.
The basis of allotment got finalized on Dec 02, 2024, and listed on the NSE on Dec 04, 2024.
Skyline Financial Services Private Ltd has been appointed as the registrar. are the Book Running Lead Manager for the issue.
Before investing in the Abha Power and Steel IPO, investors should review the company's financial performance, business objectives, and risk factors mentioned in the offer documents and apply before the subscription window closes.
- Price Band
- ₹ 75 – 75
- Lot Size
- 1600
- Issue Size
- ₹38.54 Cr
- Minimum Investment
- ₹240000 (3200 Shares)
- Listing Date
- 04 December 2024
Current GMP
₹15 (+20.00%)
*Info is indicative. Not an Investment Advice. Grey market trading is unregulated.
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.
Address / Contact Info
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
Book Running Lead Managers
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an 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.
The Abha Power and Steel IPO opens on Wed, Nov 27, 2024 and closes on Fri, Nov 29, 2024
Abha Power and Steel IPO Price Band is ₹75 to 75 per share.
Abha Power and Steel IPO lot size is 1600 shares, Retail investors need a minimum investment of ₹240000 based on the upper price band
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.
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.
Abha Power and Steel IPO issue size is ₹38.54 crores.
Abha Power and Steel IPO allotment date is Wed, Jul 1, 2026.
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.
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 0% over the issue price.