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Abha Power and Steel IPO
Abha Power and Steel Ltd
₹1,20,000 /1600 sharesMinimum Investment
Abha Power and Steel IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹75.00 | ₹81.90 | ₹6.90 (9.20%) |
Abha Power and Steel IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 27 Nov ‘24 - 29 Nov ‘24 | ₹1,20,000 | 1,600 | ₹75 - ₹75 |
| Issue Size | IPO Doc |
|---|---|
| 38.54Cr | RHP PDF |
Subscription rate
As of 29 Nov'24, 05:00 PM
| Qualified Institutional Buyers | 0.00x |
| Non-Institutional Investor | 0.00x |
| Retail Individual Investor | 0.00x |
| Total | 16.23x |
About Abha Power and Steel
Founded in
2004
Managing director
Mr. Atish Agrawal
Parent organisation
Abha Power and Steel Ltd
Strengths & Financials of Abha Power and Steel
Strengths
Risks
Abha Power and Steel is a Research Design and Standards Organisation (RDSO) certified vendor for specific casting products supplied to Indian Railways and an approved supplier for casting products to the National Mineral Development Corporation (NMDC) and Integral Coach Factory, Chennai.
The company holds a Pressure Equipment Directive (PED) certificate from TUV-Nord, certifying its quality management systems for castings manufacturing and making it eligible to supply pressure equipment to European nations.
Abha Power and Steel serves domestic customers and exports products to over six countries, including the UAE, Germany, Canada, Italy, and the Netherlands.
The company claims to have a diverse product portfolio of over 1,000 items and the capability to produce customised castings.
The manufacturing facility is ISO 9001:2015 certified (quality management systems) for designing, developing, manufacturing, and supplying all types of iron and steel castings.
As of March 31, 2024, the manufacturing facility had an installed capacity of 14,400 metric tonnes per annum (MTPA). It is equipped with infrastructure for melting, sand handling, pouring, mould and core making, heat treatment, fettling, and testing facilities.
Abha Power and Steel’s manufacturing facility is located in Bilaspur, Chhattisgarh. Any adverse developments in the business environment of the region could negatively impact the company’s business operations.
A substantial portion of the company’s revenue is concentrated in Madhya Pradesh and Chhattisgarh. Any adverse changes in the policies or regulations of these states could negatively impact its business operations and financial outcomes.
A significant share of revenue comes from a limited customer base. The top 10 customers contributed Rs 25.64 crore (68.90%) as of October 1, 2024, and Rs 35.28 crore (68.18%), Rs 40.22 crore (72.97%), and Rs 37.41 crore (68.04%) in FY24, FY23, and FY22, respectively. Any loss of customers or a reduction in business from them could adversely impact the company’s business.
The company, its promoters and directors, are involved in certain ongoing legal proceedings. Any adverse judgments in any of the cases could be detrimental to the company’s business prospects.
The company reported a loss of Rs 0.71 crore in FY22. A repeat of losses in the future could be bad for the company.
As of October 15, 2024, the company’s total secured indebtedness stood at Rs 13.37 crore, along with a cash credit of Rs 7.85 crore. Any inability to repay or service these loans can adversely affect the company’s financial position.
Abha Power and Steel Financials
*All values are in Rs. Cr
No Graph Data To Display
Application Details of Abha Power and Steel IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Regular | ₹75 - 75 | ₹2 - 5 Lakh |
| High Networth Individual | ₹75 - 75 | ₹2 - 5 Lakh |
For Abha Power and Steel IPO, eligible investors can apply as Regular.