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, indesigning, developing, manufacturing, and supplyingcluding 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.
Abha Power and Steel IPO – Details
| IPO Opening Date | 27 November 2024 |
| IPO Closing Date | 29 November 2024 |
| Issue Type | Fixed Price Issue IPO |
| Issue Size | Total Issue Size: 51,39,200 Shares Worth ₹38.54 Crore Fresh Issue: 41,39,200 Shares Worth ₹31.04 Crore Offer For Sale: 10,00,000 Shares Worth ₹7.50 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹75 |
| Market Lot | 1600 Shares |
| Min Order | 1600 Shares (1 Lot) |
| Listing At | NSE SME |
| Register | Skyline Financial Services Private Ltd |
| Retail Shares Offered | 50% |
| NII (HNI) Shares Offered | 50% |
Abha Power and Steel IPO – Date Schedule
| IPO Open Date | 27 November 2024 |
| IPO Close Date | 29 November 2024 |
| Basis of Allotment | 02 December 2024 |
| Initiation of Refund | 03 December 2024 |
| Credit of Shares to Demat Account | 03 December 2024 |
| IPO Listing Date | 04 December 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 29, 2024 |
Abha Power and Steel IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹1,20,000 |
| Retail (Max) | 1 | 1600 | ₹1,20,000 |
| HNI (Min) | 2 | 3200 | ₹2,40,000 |
Competitive Strengths
- Fully equipped manufacturing facility.
- Strategically located Manufacturing Facility.
- Captive Power plant.
- Diversified customer base and long-standing relationships with the customers.
- Quality assurance and accreditations.
- Well-experienced management team with proven project management and implementation skills.
- Healthy Growth in profitability.
Company Promoters
- Subhash Chand Agrawal
- Satish Kumar Shah
- Ankit Agrawal
- Atish Agrawal
- Leela Devi Agrawal
- Sunflower Commotrade Private Limited
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2022 | 54.98 | 54.67 | -0.71 | 17.65 |
| 31 March 2023 | 55.11 | 53.14 | 1.40 | 23.93 |
| 31 March 2024 | 51.82 | 46.75 | 3.78 | 23.73 |
| 15 October 2024 | 37.54 | 32.62 | 3.61 | 21.77 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 24.17% |
| ROCE | 23.64% |
| Debt/Equity | 1.35 |
| RoNW | 24.17% |
| P/BV | 6.18 |
| PAT Margin (%) | 7.31 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 2.62 | 3.89 |
| P/E (x) | 28.65 | 19.26 |
Object Of The Issue
- Funding the capital expenditure towards modernization and upgradation of the manufacturing facilities in Bilaspur, Chhattisgarh to expand its product portfolio;
- Funding working capital requirements of the Company; and
- General Corporate Purposes.
Abha Power and Steel IPO Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 72.35% |
Abha Power and Steel IPO Prospectus
Company Contact Information
| Abha Power and Steel Limited Silpahri Industrial State, Bilaspur, 495001 Phone: +91 93022 21587 Email: cs@abhacast.com Website: https://abhacast.com/ |
Abha Power and Steel IPO Registrar
| Skyline Financial Services Private Ltd Phone: 02228511022 Email: ipo@skylinerta.com Website: https://www.skylinerta.com/ipo.php |
Abha Power and Steel IPO Lead Manager(s)
| 1. Horizon Management Private Limited |
Abha Power and Steel IPO FAQs
| What is Abha Power and Steel IPO? Abha Power and Steel IPO is an SME IPO. The issue is priced at ₹75 per equity share. The IPO is to be listed on NSE SME. |
| When Abha Power and Steel IPO will open? The IPO is to open on 27 November 2024 for NII and Retail Investors. |
| What is Abha Power and Steel IPO Investors Portion? The investors’ portion for Retail – 50% and NII – 50%. |
| How to Apply the Abha Power and Steel IPO? You can apply Abha Power and Steel IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Abha Power and Steel IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Abha Power and Steel IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Abha Power and Steel IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Abha Power and Steel IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Abha Power and Steel IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Abha Power and Steel IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Abha Power and Steel IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Abha Power and Steel IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Abha Power and Steel IPO Size? Abha Power and Steel IPO size is ₹38.54 Crore. |
| What is Abha Power and Steel IPO Price Band? Abha Power and Steel IPO Price Band is ₹75. |
| What is Abha Power and Steel IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 1600 Shares with ₹1,20,000 amount while the maximum bid is 1600 Shares with ₹1,20,000. |
| What is the Abha Power and Steel IPO Allotment Date? Abha Power and Steel IPO allotment date is 02 December 2024. |
| What is the Abha Power and Steel IPO Listing Date? Abha Power and Steel IPO listing date is 04 December 2024. The IPO is to be listed on NSE SME. |
