The bidding for Abha Power and Steel public offering closes for bidding on November 29, 2024. In addition, the Abha Power and Steel IPO allotment is likely to be finalised on December 2, 2024. Abha Power and Steel IPO will be listed on NSE SME with a tentative listing date of December 4, 2024.
The price for Abha Power and Steel’s public issue has been set at ₹75 per share. The minimum lot size for an application is 1,600 Shares. The minimum amount of investment required by retail investors is ₹120,000.
The company has appointed Horizon Management Private Limited as the book-running lead manager, while Skyline Financial Services Private Ltd is the registrar for the issue.
On the last day of bidding, Abha Power and Steel IPO was subscribed 7.80 times. The public issue subscribed 12.68 times in the retail category, and 2.92 times in the NII category.
Abha Power and Steel Limited specializes in the casting and manufacturing of a diverse range of iron and steel products, including mild steel, manganese steel, stainless steel, and both low- and high-alloy castings. The company operates through two main foundries—SG Iron Foundry and Steel Foundry—located in Bilaspur, Chhattisgarh, spanning an area of approximately 319,200 square feet.
The facility is ISO 9001:2015 certified, ensuring high standards in the design, development, manufacturing, and supply of castings and assemblies for industries such as steel, power, and cement. Additionally, the company produces components for Indian Railways, including SGCI inserts, adapters, valve castings, and similar items. As of March 31, 2024, the plant’s total installed capacity stands at 14,400 metric tonnes per annum (MTPA).
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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