Abha Power and Steel IPO is a fixed-price issue with a total size of ₹38.54 crore. The offering consists of a fresh issue of 41.39 lakh equity shares, amounting to ₹31.04 crore, and an offer for sale of 10 lakh equity shares, totaling ₹7.50 crore.
The subscription window for the Abha Power and Steel IPO opens on November 27, 2024, and closes on November 29, 2024. The allotment is expected to be finalized on Monday, December 2, 2024, and the shares are scheduled to list on the NSE SME platform with a tentative listing date of Wednesday, December 4, 2024.
Abha Power and Steel operates in the iron and steel foundry sector. The company is involved in the casting and manufacturing of customized products across various grades of iron and steel. They cater to industries such as steel, cement, power, heavy engineering, and even the Indian Railways.
The IPO price is fixed at ₹75 per share. Retail investors must apply for a minimum lot size of 1,600 shares, requiring an investment of ₹120,000. High Net Worth Individuals (HNIs) need to apply for at least 2 lots, equaling 3,200 shares, amounting to ₹240,000.
Horizon Management Private Limited is the book-running lead manager for this IPO, with Skyline Financial Services Private Ltd serving as the registrar. Giriraj Stock Broking is the market maker for the issue.
Abha Power and Steel IPO Details:
| Company Name | Abha Power and Steel IPO Limited |
| Sector | Iron and Steel Foundry |
| IPO Type | SME |
| IPO Open date | 27th Nov 2024 |
| IPO Close date | 29th Nov 2024 |
| OFS | |
| Listing Exchanges | NSE |
| Share Holding Pre-issue | |
| DRHP Draft Prospectus | Click to check |
| RHP Draft Prospects | Click to check |
Abha Power and Steel IPO Lot Size:
| Application | Lot Size | Shares | Amount |
| Retail (Min) | 1 | 1600 | 1,20,000 |
| HNI (Min) | 2 | 3200 | 2,40,000 |
Abha Power and Steel IPO Timeline:
| IPO Open Date | 27th Nov 2024 |
| IPO Close Date | 29th Nov 2024 |
| Basis of Allotment | 02nd Dec 2024 |
| Refund Initiation Date | 03rd Dec 2024 |
| Shares Credit to Demat | 03rd Dec 2024 |
| Listing Date | 04th Dec 2024 |
Things to Consider before applying for an IPO
Financial Performance: Review Abha Power and Steel’s Financials to understand its revenue, profitability, and growth prospects.
Industry Outlook: Consider the overall health of India’s Iron and Steel Foundry Industry.
Valuation: Compare the price band to similar companies in the industry to see if the IPO is priced fairly.
Management Team: Research the experience and capabilities of the management team.
Our Verdict
This IPO offers a good opportunity to invest in Abha Power and Steel and be a part of its growth.
FAQ
What is Grey Market Premium (GMP)?
The Grey Market Premium (GMP) represents the price at which an Initial Public Offering (IPO) is traded in the unregulated grey market before its official listing. It serves as an indicator of how the IPO might perform on the listing day. Seeing the latest GMP, investors can estimate the listing performance of the IPO.
