The Abha Power and Steel IPO is a fixed-price issue valued at ₹38.54 crore. ABHA POWER IPO comprises a fresh issue of 41.39 lakh equity shares amounting to ₹31.04 crore, along with an offer for sale (OFS) of 10 lakh equity shares aggregating to ₹7.50 crore.
The subscription window for the IPO will open on November 27, 2024, and close on November 29, 2024. The allotment of shares is expected to be finalized on Monday, December 2, 2024. The IPO is scheduled to list on the NSE SME platform, with a tentative listing date set for Wednesday, December 4, 2024.
The issue price has been fixed at ₹75 per share, with a minimum application size of 1,600 shares. Retail investors are required to invest a minimum of ₹120,000 per application. For High Net-Worth Individuals (HNIs), the minimum investment is two lots (3,200 shares), amounting to ₹240,000.
Overview of Contents
Abha Power IPO Overview
| IPO Open Date: | November 27, 2024 |
|---|---|
| IPO Close Date: | November 29, 2024 |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹75 Per Share |
| Issue Size: | Approx ₹38.54 Crores |
| Fresh Issue: | Approx ₹31.04 Crores |
| Offer for Sale: | Approx 10,00,000 Equity Shares |
| Issue Type: | Fixed Price Issue |
| IPO Listing: | NSE SME |
| Retail Quota: | Not more than 50% |
| QIB Quota: | Not more than 00% |
| NII Quota: | Not more than 50% |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
| Anchor Investors List: | Click Here |
Abha Power and Steel IPO Lot Size
Investors interested in the Abha Power and Steel IPO can place bids for a minimum of 1,600 shares and in multiples thereof. For retail investors, the minimum and maximum application size is 1 lot, which equates to 1,600 shares, requiring an investment of ₹120,000. High Net-Worth Individuals (HNIs) must apply for a minimum of 2 lots, translating to 3,200 shares, with an investment amounting to ₹240,000.
Abha Power and Steel IPO Dates
| 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 |
Abha Power and Steel IPO Reservation
The shares offered in the Abha Power and Steel IPO are evenly distributed between retail investors and other categories. Retail investors are allocated 50% of the net issue, while the remaining 50% is designated for other investor categories, ensuring balanced participation across different groups.
Abha Power and Steel IPO Promoter Holding
The promoters of Abha Power and Steel Limited include Subhash Chand Agrawal, Satish Kumar Shah, Ankit Agrawal, Atish Agrawal, Leela Devi Agrawal, and Sunflower Commotrade Private Limited. Prior to the IPO, the promoters held 100% of the company’s shares. Following the public issue, their shareholding will decrease to 72.35%, reflecting the dilution from the fresh issue and offer for sale.
| Share Holding Pre Issue | 100% |
|---|---|
| Share Holding Post Issue | 72.35% |
About Abha Power and Steel
Founded in 2004, Abha Power and Steel Limited operates in the iron and steel foundry sector, specializing in the casting and manufacturing of customized products across nearly all grades of iron and steel. The company has established itself as a leader in its field by offering a diverse range of products and maintaining high-quality standards.
Abha Power and Steel Limited operates two advanced foundries—SG Iron Foundry and Steel Foundry—located at its manufacturing facility in Silpahri Industrial Area, Bilaspur, Chhattisgarh. The facility spans approximately 319,200 square feet and is ISO 9001:2015 certified for the design, development, manufacture, and supply of iron and steel castings and assemblies. The facility serves industries such as steel, power, and cement and provides critical components for Indian Railways, including SGCI inserts, adapters (all types), valve castings, and other specialized products.
The product portfolio of Abha Power and Steel Limited includes a wide array of materials such as mild steel, spheroidal graphite cast iron, manganese steel, stainless steel, and low and high alloy castings (high CR and high Ni). Additionally, it produces HRCS and WRCS, with castings ranging from 0.5 kg to 6 tonnes per unit. With over 1,000 distinct products in its catalog, the company caters to a broad range of industrial needs
As of March 31, 2024, the manufacturing facility had a total installed capacity of 14,400 metric tonnes per annum (MTPA), reflecting the company’s capability to meet the growing demands of its clients while maintaining stringent quality standards.