November 22, 2024
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Abha Power IPO GMP grey market premium, review, Subscription, allotment, listing estimate @
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Subscription status of Abha Power IPO
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Abha Power IPO (Day 1) Price Rs. 75 Lot 1600 shares, Rs.36.58 Crore |
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| QIB | NII x | RII x | Total x | Applications |
| Amount wise bids recd. Rs. ? Crore | ||||
| Note: | ||||
What is the business of Abha Power?
The company offers a diverse portfolio of over 1,000 products, including various grades of mild steel, spheroidal graphite cast iron, manganese steel, stainless steel, and low and high alloy castings (high CR and high Ni). Its product range also encompasses HRCS and WRCS, with single finished castings weighing between 0.5 kg and 6 tonnes.
The company operates two foundries—SG Iron Foundry and Steel Foundry—located within the same manufacturing facility in the Silpahri Industrial Area of Bilaspur, Chhattisgarh. Spanning 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. These are used in various sectors, including steel, power, and cement industries, as well as in components for Indian Railways, such as SGCI inserts, adapters, valve castings, and other related parts. As of March 31, 2024, the plant’s total installed production capacity is 14,400 metric tonnes per annum.
Get more information about the company @ https://abhacast.com/
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Abha Power IPO Details |
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| IPO opens on | 27 November 2024 |
| IPO closes on | 29 November 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 5139200 Shares / Rs 38.54 Crore |
| * Fresh Issue | 4139200 Shares / Rs 31.04 Crore |
| * Offer for Sale – | 1000000 shares / Rs. 7.50 crore |
| Market Maker Portion | 262400 Shares |
| Net offer to Public | 4876800 Shares/ Rs.36.58 Crore |
| Face Value per share | Rs. 10 |
| Price Band | Rs. 75 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 1600 Shares |
| Listing will at | NSE SME |
Shares offered in IPO |
||
| Shares | Rs. (Crore) | |
| QIB (0%) | – | – |
| NII (50%) | 2438400 | 18.29 |
| RII (50%) | 2438400 | 18.29 |
| Total Shares | 4876800 | 36.58 |
| Retail portion will be oversubscribed by |
1524 | |
| Forms | ||
| How much Shares to Apply in this IPO? | ||
| Min Retail Application | 1600 Shares | Rs.120000 |
| Min HNI Application | 3200 Shares | Rs.240000 |
Who are the Promoters of Abha Power?
Subhash Chand Agrawal, Satish Kumar Shah, Ankit Agrawal, Atish Agrawal, Leela Devi Agrawal and Sunflower Commotrade Private Limited are the company’s promoters
What are the Objects of Abha Power IPO?
The Offer comprises of fresh issue of shares & Offer for sale
The Company proposes to utilize the Net Proceeds towards funding the following objectives:
- 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.
Tentative timetable |
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| IPO opens on | 27 November 2024 |
| IPO Closes on | 29 November 2024 |
| IPO Allotment on | 2 December 2024 |
| Refund Initiation | 3 December 2024 |
| Credit of Shares | 3 December 2024 |
| Listing on | 4 December 2024 |
| Registered Office of the Company Abha Power and Steel Limited Silpahri Industrial State, Bilaspur-495001 |
| Who is the Lead Manager of this IPO? Horizon Management Private Limited |
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Who is the Registrar to IPO? |
Abha Power IPO GMP grey market premium, review, Subscription, allotment, listing estimate
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Abha Power IPO Financial & Analytical Ratios |
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| Year | Total Income |
Net Profit |
EPS | RoNW |
| Rs.in Crore | Rs.in Crore | Rs. | % | |
| 2021-22 | 54.98 | -0.72 | – | |
| 2022-23 | 55.12 | 1.40 | – | |
| 2023-24 | 51.83 | 3.78 | 2.62 | – |
| Book Value of the Share on 31.03.2024 |
Rs | |||
| BV of the Share at cap price after IPO |
Rs. | – | ||
| Offer Price/upper band | Rs. | 75 | ||
IPO
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| Price/EPS of 23-24 | 28.65 |
| Price/BV Ratio | 6.18 |
| Debt Equity Ratio | 1.35 |
How Abha Power IPO compares with the Peers?
| As on date of RHP | FV | Total | PE |
| Rs. | Income | Ratio of | |
| Rs. In Crore | |||
| Abha Power | 10 | 51.83 | 28.5 |
| Bhagwati Autocast | – | 20.40 | |
| Nelcast ltd | 32.90 | ||
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Abha Power IPO Review
The company offers a diverse portfolio of over 1,000 products, including various grades of mild steel, spheroidal graphite cast iron, manganese steel, stainless steel, and low and high alloy castings (high CR and high Ni). Its product range also encompasses HRCS and WRCS, with single finished castings weighing between 0.5 kg and 6 tonnes.
IPO Details and Market Outlook
The IPO size stands at an impressive Rs. 38.54 crore, offering 5139200 shares. This is a relatively medium size offering, especially when compared to recent IPO trends. With 1524 applications, the retail portion of the offering is expected to be subscribed once. The company has shown strong rise in the topline and the bottomline. The IPO can be considered as reasonably priced, if the profitability can be maintained in future.
+ from fundamental angle: May Apply
+ from grey market angle: ?
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Abha Power IPO FAQs
What is Abha Power IPO?
This is a SME IPO of 1759000 equity shares of the face value of Rs. 10 aggregating up to Rs.24.70 Crores. The issue is priced at Rs.125-130 per share. The minimum order quantity is 1000 Shares.
When will Abha Power IPO subscription open?
Apex Ecotech IPO opens on November 26, 2024, and closes on November 28, 2024.
What is the lot size of Abha Power IPO?
Apex Ecotech IPO lot size is 1000 Shares, and the minimum amount required is Rs.130000
How to apply for Abha Power IPO?
You can apply in Apex Ecotech IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
When is Abha Power IPO allotment?
The finalization of Basis of Allotment for Apex Ecotech IPO will be done on November 29, 2024, and the allotted shares will be credited to your demat account by 2 December, 2024.
When is Abha Power IPO listing date?
Apex Ecotech IPO listing date is December 3, 2024.
