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Abha Power and Steel IPO is a fixed price issue of Rs 38.54 crores. The issue is a combination of fresh issue of 41.39 lakh shares aggregating to Rs 31.04 crores and offer for sale of 10 lakh shares aggregating to Rs 7.50 crores.
Abha Power and Steel IPO opens for subscription on November 27, 2024 and closes on November 29, 2024. The allotment for the Abha Power and Steel IPO is expected to be finalized on Monday, December 2, 2024. Abha Power and Steel IPO will list on NSE SME with tentative listing date fixed as Wednesday, December 4, 2024.
Abha Power and Steel IPO price is ₹75 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹120,000. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹240,000.
Horizon Management Private Limited is the book running lead manager of the Abha Power and Steel IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for Abha Power and Steel IPO is Giriraj Stock Broking.
Refer to Abha Power and Steel IPO RHP for detailed information.
| IPO Date | November 27, 2024 to November 29, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹75 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 5,139,200 shares (aggregating up to ₹38.54 Cr) |
| Fresh Issue | 4,139,200 shares (aggregating up to ₹31.04 Cr) |
| Offer for Sale | 1,000,000 shares of ₹10 (aggregating up to ₹7.50 Cr) |
| 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 Giriraj Stock Broking |
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the Net Issue |
| Other Shares Offered | 50% of the Net Issue |
Abha Power and Steel IPO opens on November 27, 2024, and closes on November 29, 2024.
| IPO Open Date | Wednesday, November 27, 2024 |
| IPO Close Date | Friday, November 29, 2024 |
| Basis of Allotment | Monday, December 2, 2024 |
| Initiation of Refunds | Tuesday, December 3, 2024 |
| Credit of Shares to Demat | Tuesday, December 3, 2024 |
| Listing Date | Wednesday, December 4, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 29, 2024 |
Investors can bid for a minimum of 1600 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹120,000 |
| Retail (Max) | 1 | 1600 | ₹120,000 |
| HNI (Min) | 2 | 3,200 | ₹240,000 |
| Lot Size Calculator | |||
Subhash Chand Agrawal, Satish Kumar Shah, Ankit Agrawal, Atish Agrawal, Leela Devi Agrawal and Sunflower Commotrade Private Limited are the company's promoters.
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue | 72.35% |
Founded in 2004, Abha Power and Steel Limited is engaged in the business of casting and manufacturing iron and steel products. The company makes a wide variety of products, including mild steel, manganese steel, stainless steel, and low and high-alloy castings.
Abha Power and Steel Limited's two foundries—SG Iron Foundry and Steel Foundry— and its manufacturing facility are located in Bilaspur, Chhattisgarh, covering an area of approximately 319,200 square feet.
The facility is ISO 9001:2015 certified for the design, development, manufacturing, and supply of iron and steel castings and assemblies for industries such as steel, power, and cement. It also produces parts for the Indian Railways, including SGCI inserts, adapters (all types), valve castings, and similar items. As of March 31, 2024, the total installed capacity of the plant was 14,400 metric tonnes per annum (MTPA).
Abha Power and Steel Limited has a diverse portfolio of over 1,000 products, it caters to various industries.
The company's clientele includes 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.
As of April 30, 2024, the company employed 65 people, including senior management.
Competitve Strengths:
Abha Power and Steel Limited's revenue decreased by -6% and profit after tax (PAT) rose by 170% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 15 Oct 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | ||||||||||||||||||||||||||||||||||||
| Assets | 5,135.61 | 4,735.9 | 4,476.89 | 3,536.87 | ||||||||||||||||||||||||||||||||||||
| Revenue | 3,754.92 | 5,182.68 | 5,511.82 | 5,498.4 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 361.97 | 378.19 | 140.14 | -71.53 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 2,115.63 | 1,753.66 | 1,375.47 | 1,120.07 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 670.76 | 308.8 | 893.85 | 678.47 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 2,177.34 | 2,373.22 | 2,393.34 | 1,765.62 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||||||||||||
The market capitalization of Abha Power and Steel IPO is Rs 139.41 Cr.
KPI as of October 15, 2024.
| 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 Company proposes to utilize the Net Proceeds towards funding the following objectives:
[Dilip Davda] The company is engaged in the business of iron and steel foundry for customized products with over 1000+ products meeting varied needs of the end users. It posted static top lines for FY22 and FY23 with marginal profits, but for FY24 it reported bumper profits on declined top line, that raises eyebrows. Based on its latest financial performance, the issue appears aggressively priced. Well-informed investors may park moderate fund for medium term. Read detail review...
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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Abha Power and Steel IPO is a SME IPO of 5,139,200 equity shares of the face value of ₹10 aggregating up to ₹38.54 Crores. The issue is priced at ₹75 per share. The minimum order quantity is 1600 Shares.
The IPO opens on November 27, 2024, and closes on November 29, 2024.
Skyline Financial Services Private Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Abha Power and Steel IPO using UPI as a payment gateway. Zerodha customers can apply in Abha Power and Steel IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Abha Power and Steel IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Abha Power and Steel IPO opens on November 27, 2024 and closes on November 29, 2024.
Abha Power and Steel IPO lot size is 1600 Shares, and the minimum amount required is ₹120,000.
You can apply in Abha Power and Steel IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Abha Power and Steel IPO will be done on Monday, December 2, 2024, and the allotted shares will be credited to your demat account by Tuesday, December 3, 2024. Check the Abha Power and Steel IPO allotment status.
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