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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 ₹75.00 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). The minimum lot size investment for 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 Date | November 27, 2024 to November 29, 2024 |
| Listing Date | December 4, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹75 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 51,39,200 shares (aggregating up to ₹38.54 Cr) |
| Reserved for Market Maker | 2,62,400 shares Giriraj Stock Broking Pvt.Ltd. (aggregating up to ₹1.97 Cr) |
| Fresh Issue (Ex Market Maker) | 38,76,800 shares (aggregating up to ₹29.08 Cr) |
| Offer for Sale | 10,00,000 shares of ₹10 (aggregating up to ₹7.50 Cr) |
| Net Offered to Public | 48,76,800 shares (aggregating up to ₹36.58 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,44,48,630 shares |
| Share Holding Post Issue | 1,85,87,830 shares |
Abha Power and Steel IPO offers total 51,39,200 shares. Out of which 24,38,400 (47.45%) allocated to NII, 24,38,400 (47.45%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,62,400 (5.11%) |
| NII (HNI) Shares Offered | 24,38,400 (47.45%) |
| Retail Shares Offered | 24,38,400 (47.45%) |
| Total Shares Offered | 51,39,200 (100.00%) |
Abha Power IPO opens on November 27, 2024, and closes on November 29, 2024.
| IPO Open Date | Wed, Nov 27, 2024 |
| IPO Close Date | Fri, Nov 29, 2024 |
| Tentative Allotment | Mon, Dec 2, 2024 |
| Initiation of Refunds | Tue, Dec 3, 2024 |
| Credit of Shares to Demat | Tue, Dec 3, 2024 |
| Tentative Listing Date | Wed, Dec 4, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Fri, Nov 29, 2024 |
Investors can bid for a minimum of 1,600 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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:
Abha Power and Steel Limited's revenue decreased by -6% and profit after tax (PAT) rose by 170% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 15 Oct 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 5,135.61 | 4,735.9 | 4,476.89 | 3,536.87 |
| Total Income | 3,754.92 | 5,182.68 | 5,511.82 | 5,498.4 |
| Profit After Tax | 361.97 | 378.19 | 140.14 | -71.53 |
| Net Worth | 2,115.63 | 1,753.66 | 1,375.47 | 1,120.07 |
| Reserves and Surplus | 670.76 | 308.8 | 893.85 | 678.47 |
| Total Borrowing | 2,177.34 | 2,373.22 | 2,393.34 | 1,765.62 |
| Amount in ₹ Lakhs | ||||
The market capitalization of Abha Power IPO is ₹139.41 Cr.
KPI as of Tue, Oct 15, 2024.
| KPI | Values |
|---|---|
| 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 Rs | 2.62 | 3.89 |
| P/E (x) | 28.65 | 19.26 |
The Company proposes to utilize the Net Proceeds towards funding the following objectives:
[Dilip Davda] The company is engaged in the business of iron and steel foundry for customized products with over 1000+ products meeting varied needs of the end users. It posted static top lines for FY22 and FY23 with marginal profits, but for FY24 it reported bumper profits on declined top line, that raises eyebrows. Based on its latest financial performance, the issue appears aggressively priced. Well-informed investors may park moderate fund for medium term. Read detail review...
| Listing Date | December 4, 2024 |
| BSE Script Code | |
| NSE Symbol | ABHAPOWER |
| ISIN | INE0UYG01015 |
| Final Issue Price | ₹75 per share |
| NSE Listing Group | ST |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹75.00 |
| Open | ₹81.90 |
| Low | ₹77.80 |
| High | ₹81.90 |
| Last Trade | ₹77.80 |
Abha Power & Steel Ltd.
Silpahri Industrial
State,
Hardikala,
Bilaspur, Chhattisgarh, 495001
Phone: +91 93022 21587
Email: cs@abhacast.com
Website: https://abhacast.com/
Skyline Financial Services Pvt.Ltd.
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
Abha Power IPO is a SME IPO of 51,39,200 equity shares of the face value of ₹10 aggregating up to ₹38.54 Crores. The issue is priced at ₹75 per share. The minimum order quantity is 1600.
The IPO opens on November 27, 2024, and closes on November 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 November 27, 2024 and closes on November 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 Tuesday, December 3, 2024. Check the Abha Power IPO allotment status.
The Abha Power IPO listing date is on Wednesday, December 4, 2024.
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