From 27 November 2024 until 29 November 2024, Abha Power and Steel Limited IPO will be open for subscription. This is a fixed-price SME IPO with a mix of fresh equity issues and OFS together looking to raise around ₹ 38.54 crore. Abha Power is issuing 41.39 lakh fresh equity shares amounting to ₹ 31.04 crore, while the remaining ₹ 7.50 crore will be from OFS of 10 lakh shares.
The allotment for the Abha Power and Steel Ltd. IPO is expected to be finalized on Monday, 2 December 2024. Abha Power and Steel shares will be listed on NSE SME on Wednesday, 4 December 2024 as decided yet.
Since this is a fixed price issue, the price set for the IPO is ₹ 75 per share. The minimum ipo lot size of 1600 shares, which means the minimum investment, has to be ₹120000. However, this is for retail investors only, for HNIs, they need to buy at least two lots at a time, which will amount to ₹ 240000.
Here Are the Quick Steps to Apply for the Abha Power and Steel SME IPO!
Abha Power and Steel NSE SME IPO Details
| Detail | Information |
| IPO Opening Date | November 27, 2024 |
| IPO Closing Date | November 29, 2024 |
| Tentative IPO Listing Date | December 4, 2024 |
| Face Value | ₹10 per share |
| Price Range | ₹75 per share |
| Lot Size | 1600 shares |
| Total Issue Size | 5139200 shares (₹38.54 Cr) |
| Fresh Issue | 4139200 shares (₹31.04 Cr) |
| OFS | 1000000 shares (₹7.50 Cr.) |
| IPO Segment | Fixed Price Issue |
| Listing At | NSE SME |
| Shareholding Pre-Issue | 14448630 shares |
| Shareholding Post-issue | 18587830 shares |
Abha Power and Steel Limited | Company Overview
Abha Power and Steel Limited was founded in the year 2004 and engages in the manufacturing and casting of iron and steel products. The product range is wide and includes mild steel, stainless steel, both low and high-alloy castings, manganese steel, and more.
The foundries of Abha Power and Steel are –
- SG Iron Foundry
- Steel foundry
Its manufacturing unit is situated in Bilaspur, Chhattisgarh. This is around 319200 square feet facility unit and ISO 9001:2015 certified. This allows Abha Power to design, develop, manufacture, and supply steel and iron castings, and also assemblies for different industries such as –
- Power
- Steel
- Cement and others.
One of the main clients of Abha Power and Steel is Indian Railways for which the SME produces and supplies different iron and steel parts, which include SGCI, inserts, and adapters of different kinds, valve casting, and more.
The current installed capacity recorded as of 31 March 2024 is 14400 Metric Tonnes Per Annum (MTPA).
Present clientele includes –
- Vishal Nirmiti Pvt. Ltd.
- The Indian Hume Pipe Co. Ltd.
- Raghavendra Rail Lines Pvt. Ltd.
- SECR Railway
- SCR railways
- Beekay Engg Corporation
- Ashi Limited
- Supertech Rail Infra Projects Pvt. Ltd.
- Northern Railways
- Orissa Concrete & allied Industries Ltd.
Abha Power and Steel Limited IPO | Key Details
- Abha Power and Steel IPO Opening Date: November 27, 2024,
- Abha Power and Steel IPO Closing Date: November 29, 2024,
- Allotment Date: December 2, 2024
- Price Band: ₹75 per share
- Lot Size: 1600 shares
- Refunds Initiated: December 3, 2024
- Shares Credited to Demat: December 3, 2024
- Listing Date: December 4, 2024
Abha Power and Steel Ltd: Financial Overview
Abha Power and Steel Ltd. in FY24 witnessed a little dip in its revenue by around 5.97% however, its profit didn’t get affected, instead, PAT jumped by 169.87% in FY24. The reserve and surplus though declined sharply by 65.45%. Here are the details of the financials of the firm –
All figures in ₹ Lakhs
| Financial Information | 31 Mar 2024 | 31 Mar 2023 | Change (31 Mar’23 – 31 Mar’24) | Change (%) |
| Assets | 4,735.90 | 4,476.89 | 259.01 | 5.79 |
| Revenue | 5,182.68 | 5,511.82 | -329.14 | -5.97 |
| Profit After Tax | 378.19 | 140.14 | 238.05 | 169.87 |
| Net Worth | 1,753.66 | 1,375.47 | 378.19 | 27.50 |
| Reserves and Surplus | 308.8 | 893.85 | -585.05 | -65.45 |
| Total Borrowing | 2,373.22 | 2,393.34 | -20.12 | -0.84 |
FAQs | Abha Power and Steel Ltd IPO
Abha Power and Steel Ltd is engaged in the manufacturing and supply of iron and steel casting products to different industries including railways, the steel sector, power, and more.
The tentative IPO listing date of Abha Power and Steel has been fixed as Wednesday, December 4, 2024.
The bidding date for the Abha Power and Steel IPO is November 27, 2024, and it will continue until November 29, 2024.
The minimum IPO lot size for Abha Power and Steel is 1600 shares. For HNIs, it is 2 lots as the minimum investment requirement.
The IPO allotment is expected to be finalized on Monday, December 2, 2024
The IPO face value is set at ₹10 per share.
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Disclaimer: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.