Abha Power and Steel IPO Details
SME
Abha Power and Steel IPO opens for subscription on 27 Nov 2024 and closes on 29 Nov 2024. The IPO will be listed on NSE with the tentative listing date set for 04 Dec 2024.
Abha Power and Steel IPO price band has been fixed at ₹75 – ₹75 per share.The face value is ₹10 per share with a lot size of 1600.
Abha Power and Steel IPO total issue size comprises 51,39,200 shares (aggregating up to ₹38.54 Cr). This includes a fresh issue of 41,39,200 shares (aggregating up to ₹31.04 Cr). Offer for Sale consists of 10,00,000 shares (aggregating up to ₹7.50 Cr). Pre-issue shareholding stands at 1,44,48,630, which will increase to 1,85,87,830 post-issue.
Abha Power and Steel IPO carries a ₹15 (20%) GMP, reflecting investor sentiment.
Abha Power and Steel IPO Lot Size : Retail Minimum is 1 lot (1,600 shares) amounting to ₹120,000. Retail Maximum is 1 lot (1,600 shares) amounting to ₹120,000. HNI Minimum is 2 lots (3,200 shares) amounting to ₹240,000.
The Lead Managers for Abha Power and Steel IPO are crucial for the offering's success. They are responsible for a wide range of tasks, including preparing the company for the public market, managing the regulatory filings, and marketing the IPO to potential investors. The lead manager for this offering is Horizon Management Pvt Ltd. To assess their past performance and success in previous IPOs, you can view the Lead Manager Performance Summary report.
For SME (Small and Medium-sized Enterprise) IPOs, a Market Maker is appointed to ensure liquidity and stability for the stock once it is listed. They do this by continuously quoting bid and ask prices, ensuring there is a market for the shares. The appointed market maker for this IPO is Giriraj Stock Broking. You can analyze their track record by checking the Market Maker Performance Summary report.
For detailed information, Refer to the Abha Power and Steel Limited RHP.
Abha Power and Steel IPO Details
Abha Power and Steel IPO Subscription
Abha Power and Steel IPO Application Wise Breakup
Abha Power and Steel IPO Dates
- 27 Nov 2024Opening dateOpen
- 29 Nov 2024Closing dateClose
- 02 Dec 2024Allotment Date Allotment
- 03 Dec 2024Initiation of RefundsRefund
- 03 Dec 2024Credit of SharesCredit
- 04 Dec 2024Listing dateListing
Abha Power and Steel IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 1600 | ₹120,000 |
| Retail Maximum | 1 | 1600 | ₹120,000 |
| HNI Minimum | 2 | 3200 | ₹240,000 |
Abha Power and Steel IPO Reservation
Promoter Holding
Abha Power and Steel IPO Valuations
Abha Power and Steel Financial Information
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 | ||||||||||||||||||||||||||||||||||||||||
About Abha Power and Steel IPO
Founded in 2004, Abha Power and Steel Limited operate in the iron and steel foundry sector, specifically in the casting and manufacturing of customised products in almost all grades of iron and steel.
The company's product portfolio includes all grades of mild steel, spheroidal graphite cast iron, manganese steel, stainless steel, low and high alloy castings (high CR and high Ni), HRCS and WRCS, ranging from 0.5 kg to 6 tonnes of single finished casting. The company has a diverse product portfolio of more than 1000 products.
Abha Power and Steel Limited operates two foundries, i.e. SG Iron Foundry and Steel Foundry, on the same premises at its manufacturing facility in Silpahri Industrial Area, Bilaspur, Chhattisgarh, spread over an area of around 319,200 square feet. The manufacturing facility is ISO 9001:2015 certified for the design, development, manufacture, and supply of all iron and steel castings and assemblies for the steel, power, and cement industries as well as parts for the Indian Railways such as SGCI inserts, adapters (all types), valve castings and other similar castings. As of March 31, 2024, the total installed capacity of the production plant was 14,400 metric tonnes per annum (“MTPA”).
Competitive strengths
- Diversified product mix with a strong focus on customised products
- Fully equipped manufacturing facility
- Strategically located Manufacturing Facility
- Captive Power plant
- Diversified customer base and long-standing relationships with the customers
- Quality assurance and accreditations
- Well-experienced management team with proven project management and implementation skills
- Healthy Growth in profitability
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, Orissa Concrete & Allied Industries Ltd. to name a few.
As of April 30, 2024, the company had 65 employees, including senior management.
Strength Of Abha Power and Steel IPO
1. Diversified product mix with strong focus on customised products.
2. Fully equipped manufacturing facility.
3. Strategically located Manufacturing Facility.
4. Captive Power plant.
5. Diversified customer base and long-standing relationship with our customers.
6. Quality assurance and accreditations.
7. Well experienced management team with proven project management and implementation skills.
Risk Of Abha Power and Steel IPO
1. Our Manufacturing Facility is located in Bilaspur, Chhattisgarh. Any disruption, breakdown or shutdown of our Manufacturing Facility may have a material adverse effect on our business, financial condition, results of operations and cash flow.
2. We do not own premises where our Manufacturing Facility is located.
3. Our manufacturing activity is subject to availability of raw material and the costs of the raw materials. Any shortage in availability or fluctuations in raw material prices, may have a material adverse effect on our business, financial condition, results of operations and cash flows.
4. A significant majority of our revenues from operations are derived from a limited number of customers.
5. We require certain approvals and licenses in the ordinary course of business and are required to comply with certain rules and regulations to operate our business, any failure to obtain, retain and renew such approvals and licences or comply with such rules and regulations may adversely affect our operations.
6. Our business is capital intensive. We require substantial financing for our business operations. Our indebtedness and the conditions and restrictions imposed on by our financing arrangements could adversely affect our ability to conduct our business.
7. Our ability to access capital at attractive costs depends on our credit ratings. Non-availability of credit ratings or a poor rating may restrict our access to capital and thereby adversely affect our business and results of operations.
8. We have availed unsecured loans which are repayable on demand. Any demand for repayment of such unsecured loans, may adversely affect our cash flows.
9. Our lenders have charge over our movable and immovable properties in respect of finance availed by us.
10. Our Promoters and Promoter Group has provided personal and corporate guarantees for loans availed by our Company. Our business, financial condition, results of operations, cash flows and prospects may be adversely affected by the invocation of all or any guarantees provided by our Promoter and Promoter Group.
Objectives Abha Power and Steel IPO
- 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.
Company Contact Details
Abha Power and Steel Limited
Silpahri Industrial State,
Bilaspur,
495001
Phone: +91 93022 21587
Email: cs@abhacast.com
Website: https://abhacast.com/
Registrar Contact Details
Lead Mangers
Lead Manager Reports
Market Maker
Market Maker Reports
Abha Power and Steel IPO - FAQs
The Abha Power and Steel IPO is a SME public issue comprising 5139200 equity shares with a face value of ₹10 each, aggregating to a total issue size of ₹38.54 Cr. The issue price has been fixed at ₹75 per equity share, and the minimum application size is 1600 shares.
The IPO opens for subscription on 27 Nov 2024, and closes on 29 Nov 2024.
Skyline Financial Services Pvt Ltd has been appointed as the registrar to the issue. The equity shares are proposed to be listed on the NSE
As of now, the current GMP stands at ₹15 (20%).