Fixed Price IPO | ₹39 Cr | Listed at NSE SME | Wed, Nov 27, 2024 - Fri, Nov 29, 2024
Abha Power IPO is a fixed price issue of ₹38.54 crores. The issue is a combination of fresh issue of 0.41 crore shares aggregating to ₹31.04 crores and offer for sale of 0.10 crore shares aggregating to ₹7.50 crores.
Abha Power IPO bidding started from Nov 27, 2024 and ended on Nov 29, 2024. The allotment for Abha Power IPO was finalized on Dec 2, 2024. The shares got listed on NSE SME on Dec 4, 2024.
Abha Power IPO price is ₹75 per share. The lot size for an application is 1,600. The minimum amount of investment required by an individual investor (retail) is ₹1,20,000 (1600 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (3,200 shares), amounting to ₹2,40,000.
Horizon Management Pvt.Ltd. is the book running lead manager and Skyline Financial Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Giriraj Stock Broking Pvt.Ltd..
Refer to Abha Power IPO RHP for detailed Information.
IPO Open
Wed, Nov 27, 2024
IPO Close
Fri, Nov 29, 2024
Issue Price
₹75 per share
Market Cap (Pre-IPO)
₹139.41 Cr
| IPO Date | 27 to 29 Nov, 2024 |
| Listed on | Wed, Dec 4, 2024 |
| Face Value | ₹10 per share |
| Issue Price | ₹75 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 51,39,200 shares (agg. up to ₹39 Cr) |
| Reserved for Market Maker | 2,62,400 shares Giriraj Stock Broking Pvt.Ltd. (agg. up to ₹2 Cr) |
| Fresh Issue (Ex Market Maker) | 38,76,800 shares (agg. up to ₹29 Cr) |
| Offer for Sale | 10,00,000 shares of ₹10 (agg. up to ₹8 Cr) |
| Net Offered to Public | 48,76,800 shares (agg. up to ₹37 Cr) |
| Share Holding Pre Issue | 1,44,48,630 shares |
| Share Holding Post Issue | 1,85,87,830 shares |
| NSE Symbol | ABHAPOWER |
| ISIN | INE0UYG01015 |
Abha Power IPO comprises a total issue size of 51,39,200 shares. The net offer to the public is 48,76,800 shares, after excluding 2,62,400 shares allotted on a firm basis. Of the Net offer 24,38,400 (50.00%) allocated to NII 24,38,400 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 24,38,400 | 50.00% | 47.45% |
| Retail Shares Offered | 24,38,400 | 50.00% | 47.45% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,62,400 | 5.11% | |
| Total Shares Offered | 51,39,200 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,600 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,600 | ₹1,20,000 |
| Retail (Max) | 1 | 1,600 | ₹1,20,000 |
| HNI (Min) | 2 | 3,200 | ₹2,40,000 |
Founded in 2004, Abha Power and Steel Limited is engaged in the business of casting and manufacturing iron and steel products. The company makes a wide variety of products, including mild steel, manganese steel, stainless steel, and low and high-alloy castings.
Abha Power and Steel Limited's two foundries—SG Iron Foundry and Steel Foundry— and its manufacturing facility are located in Bilaspur, Chhattisgarh, covering an area of approximately 319,200 square feet.
The facility is ISO 9001:2015 certified for the design, development, manufacturing, and supply of iron and steel castings and assemblies for industries such as steel, power, and cement. It also produces parts for the Indian Railways, including SGCI inserts, adapters (all types), valve castings, and similar items. As of March 31, 2024, the total installed capacity of the plant was 14,400 metric tonnes per annum (MTPA).
Abha Power and Steel Limited has a diverse portfolio of over 1,000 products, it caters to various industries.
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, and Orissa Concrete & Allied Industries Ltd., among others.
As of April 30, 2024, the company employed 65 people, including senior management.
Competitve Strengths:
| Period Ended | 15 Oct 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 51.36 | 47.36 | 44.77 | 35.37 |
| Total Income | 37.55 | 51.83 | 55.12 | 54.98 |
| Profit After Tax | 3.62 | 3.78 | 1.40 | -0.72 |
| NET Worth | 21.16 | 17.54 | 13.75 | 11.20 |
| Reserves and Surplus | 6.71 | 3.09 | 8.94 | 6.78 |
| Total Borrowing | 21.77 | 23.73 | 23.93 | 17.66 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding the capital expenditure towards modernization and upgradation of the manufacturing facilities in Bilaspur, Chhattisgarh to expand our product portfolio | 16.39 |
| 2 | Funding working capital requirements of the Company | 3.00 |
| 3 | General Corporate Purposes. | 7.45 |
| KPI | Oct 15, 2024 |
|---|---|
| ROE | 24.17% |
| ROCE | 23.64% |
| Debt/Equity | 1.35 |
| RoNW | 24.17% |
| PAT Margin | 7.31% |
| Price to Book Value | 6.18 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 2.62 | 3.89 |
| P/E (x) | 28.65 | 19.26 |
| Promoter Holding | 100% | 72.35% |
| Market Cap | ₹139.41 Cr. |
The Abha Power and Steel IPO is subscribed 18 times on November 29, 2024 6:19:02 PM (Day 3). The public issue subscribed 24.93 times in the retail category, [.] times in the QIB category, and 10.07 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for | Total Application |
|---|---|---|---|---|
| NII* | 10.07 | 24,38,400 | 2,45,50,400 | 3,832 |
| Retail | 24.93 | 24,38,400 | 6,07,93,600 | 37,996 |
| Total | 18 | 48,76,800 | 8,78,00,000 | 41,831 |
Total Application : 41,831
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue management fees including fees and reimbursements of Market Making fees and payment to other Intermediaries such as Legal Advisors to the IPO, Registrars and other out of pocket expenses. | 1.26 |
| 2 | Marketing and Selling Commission and expenses | 3.50 |
| 3 | Advertising and marketing expenses | 0.25 |
| 4 | Printing and distribution of issue stationery | 0.02 |
| 5 | Others: Listing fees | 0.01 |
| 6 | SEBI and NSE processing fees | 0.00 |
| 7 | Book Building software fees | 0.04 |
| 8 | Other regulatory expenses | 0.05 |
| 9 | Miscellaneous | 0.10 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹75.00 |
| Open | ₹81.90 |
| Low | ₹77.80 |
| High | ₹81.90 |
| Last Trade | ₹77.80 |
Lead Manager Reports
Abha Power IPO is a SME IPO of 51,39,200 equity shares of the face value of ₹10 aggregating up to ₹39 Crores. The issue is priced at ₹75 per share. The minimum order quantity is 1600.
The IPO opens on Wed, Nov 27, 2024, and closes on Fri, Nov 29, 2024.
Skyline Financial Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Abha Power IPO using UPI as a payment gateway. Zerodha customers can apply in Abha Power IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Abha Power IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Abha Power IPO opens on Wed, Nov 27, 2024 and closes on Fri, Nov 29, 2024.
Abha Power IPO lot size is 1600, and the minimum amount required for application is ₹1,20,000.
You can apply in Abha Power IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Abha Power IPO will be done on Monday, December 2, 2024, and the allotted shares will be credited to your demat account by Tue, Dec 3, 2024. Check the Abha Power IPO allotment status.
The Abha Power IPO listing date is on Wed, Dec 4, 2024.
