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Abha Power and Steel IPO

  • Status: Closed
  • RHP:
  • ₹ 120,000 / 1600 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    04 Dec 2024

  • Listing Price

    ₹ 81.90

  • Listing Change

    9.20%

  • Last Traded Price

    ₹ 50.00

IPO Details

  • Open Date

    27 Nov 2024

  • Close Date

    29 Nov 2024

  • IPO Price Range

    ₹ 75

  • IPO Size

    ₹ 38.54 Cr

  • Listing Exchange

    NSE SME

  • Listing Date

    04 Dec 2024

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IPO Timeline

Abha Power and Steel IPO Subscription Status

Last Updated: 29 November 2024 6:55 PM by 5Paisa

Abha Power and Steel IPO is set to open on 27 November 2024 and will close on 29 November 2024. Abha Power and Steel specialises in manufacturing and casting customised iron and steel products across diverse grades.

The IPO is a combination of a fresh issue of 0.41 Cr shares aggregating to ₹31.04 Cr and an offer for sale of 0.10 Cr shares aggregating to ₹7.50 Cr. The price is set at ₹75 per share and the lot size is 1600 shares. 

The allotment is scheduled to be finalised on 2 December 2024. It will go public on NSE SME, with a tentative listing date of 4 December 2024.

Horizon Management Pvt Ltd is the book running lead manager while Skyline Financial Services Pvt Ltd is the registrar. 

Abha Power IPO Size

Types Size
Total IPO Size ₹38.54 Cr
Offer For Sale ₹7.50 Cr
Fresh Issue ₹31.04 Cr

 

Abha Power IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 1600 ₹120,000
Retail (Max) 1 1600 ₹120,000
HNI (Min) 2 3200 ₹240,000

 

Abha Power and Steel IPO Reservation

Investors Category Subscription (times) Shares Offered Shares bid for Total Amount (Cr.)
NII (HNI) 10.06 24,38,400 2,45,40,800 184.06
Retail 24.88 24,38,400     6,06,78,400 455.09
Total 17.98 48,76,800 8,76,75,200 657.56

 

1. Funding the capital expenditure towards modernization and upgradation of manufacturing facilities.
2. Funding working capital requirements of the Company; and
3. General Corporate Purposes.
 

Abha Power and Steel, founded in 2004, specialises in manufacturing and casting customised iron and steel products across diverse grades. Its extensive product portfolio includes mild steel, spheroidal graphite cast iron, manganese steel, stainless steel, and high-alloy castings, catering to industries like steel, power, cement, and Indian Railways. Operating from a 319,200-square-foot facility in Bilaspur, Chhattisgarh, the company has an installed production capacity of 14,400 metric tonnes annually. The facility houses SG Iron and Steel Foundries and holds ISO 9001:2015 certification for its stringent quality standards.

Backed by a well-experienced management team, Abha Power and Steel boasts competitive strengths such as a diversified product mix, a captive power plant, strategic location, and a loyal customer base, including Vishal Nirmiti Pvt Ltd and Northern Railway. With a focus on quality and innovation, the company continues its profitable growth journey, supported by 65 employees as of April 2024.

Peers

Bhagwati Autocast Limited
Nelcast Limited
 

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY24 FY23 FY22
Revenue 51.83 55.12 54.98
EBITDA 8.14 3.34 1.64
PAT 3.78 1.40 -0.72
Particulars (in Rs. Crores) FY24 FY23 FY22
Total Assets 47.36 44.77 35.37
Share Capital 14.45 4.82 4.42
Total Borrowings 23.73 23.93 17.66
Particulars (in Rs. Crores) FY24 FY23 FY22
Net Cash Generated From / (used in) operating activities 4.69 7.96 -6.76
Net Cash Generated From / (used in) investing activities -0.27 -13.56 -1.26
Net Cash Generated From / (used in) financing activities -4.31 5.52 8.13
Net Increase (Decrease) In Cash And Cash Equivalents 0.11 -0.08 0.11

Strengths

1. Wide range of products catering to diverse industries and customer requirements.
2. ISO-certified manufacturing facility ensuring high-quality standards and efficient production.
3. Strategic location in Bilaspur with easy access to raw materials and transportation.
4. Strong client relationships with renowned companies, including Indian Railways.
5. Experienced management team with expertise in project execution and operational efficiency.
 

Risks

1. High dependency on Indian Railways for a significant portion of revenue.
2. Operations concentrated in a single location, limiting geographical diversification.
3. Manual processes in operations may impact productivity and scalability.
4. Limited workforce size could pose challenges for future expansions or increased demand.
5. Stiff competition from larger and more established players in the steel industry.
 

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FAQs

Abha Power and Steel IPO opens from 27 November to 29 November 2024.

The size of Abha Power and Steel IPO is ₹38.54 Cr.

The price of Abha Power and Steel IPO is fixed at ₹75 per share. 

To apply for Abha Power and Steel IPO, follow the steps given below:

● Login to your 5paisa account and select the issue in the current IPO section    
● Enter the number of lots and the price at which you wish to apply for the Abha Power and Steel  IPO.    
● Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    

You will receive a mandate notification to block funds in your UPI app.
 

The minimum lot size of Abha Power and Steel IPO is 1600 shares and the investment required is ₹120,000.

The share allotment date of Abha Power and Steel IPO is 2 December 2024.

The Abha Power and Steel IPO will be listed on 4 December 2024.

Horizon Management Pvt Ltd is the book running lead manager of the Abha Power and Steel IPO.