Abha Power IPO description – Abha Power and Steel operates in the iron and steel foundry industry, specializing in casting and manufacturing custom-made products across nearly all grades of iron and steel. Its extensive product range includes mild steel, spheroidal graphite cast iron, manganese steel, stainless steel, low and high alloy castings (high CR & high Ni), as well as HRCS & WRCS. These castings vary in size, from as small as 0.5 kg to massive 6-ton single-finished castings.
The company is an RDSO-certified vendor for supplying specific casting products to Indian Railways. It is also an approved vendor for supplying certain casting products to the National Mineral Development Corporation and the Integral Coach Factory in Chennai. As of 30 April 2024, the company had a workforce of 65 employees, including senior management.
Abha Power sells its products both domestically and to over six countries, including the UAE, Germany, Canada, Italy, and the Netherlands. By September 2024, the company boasted a diverse portfolio of over 1,000 products, supported by its capacity to produce custom-made items. As of 31 March 2024, the company’s manufacturing facility had an installed capacity of 14,400 metric tonnes per annum (MTPA). The facility also includes a captive solar power plant with an installed capacity of 2.99 MW, hinting at its ambition, though the balance between growth and sustainability remains uncertain.
Promoters of Abha Power and Steel – Subhash Chand Agrawal, Ankit Agrawal, Atish Agrawal, Satish Kumar Shah, Leela Devi Agrawal, and Sunflower Commotrade Private Limited
Table of Contents
Abha Power IPO Details
| Abha Power IPO Dates | 27 – 29 November 2024 |
| Abha Power Issue Price | INR 75 per share |
| Fresh issue | 41,39,200 shares (INR 31.04 crore) |
| Offer For Sale | 10,00,000 shares (INR 7.50 crore) |
| Total IPO size | 51,39,200 shares (INR 38.54 crore) |
| Minimum bid (lot size) | 1,600 shares (INR 1,20,000) |
| Face Value | INR 10 per share |
| Retail Allocation | 50% |
| Listing On | NSE EMERGE |
Abha Power Financial Performance
|  | FY 2022 | FY 2023 | FY 2024 | 1 Apr – 15 Oct 2024 |
| Revenue | 54.52 | 54.70 | 51.75 | 37.21 |
| Expenses | 54.67 | 53.15 | 46.76 | 32.63 |
| Net income | (0.72) | 1.40 | 3.78 | 3.62 |
Abha Power Offer News
- Abha Power RHP
- Abha Power Draft Prospectus
- ASBA IPO Forms
- Live IPO Subscription Status
- Highest SME IPO Subscription in 2024
Abha Power Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 | |
| EPS | (0.50) | 0.97 | 2.62 |
| PE ratio | – | – | 28.63 |
| RONW (%) | (6.13) | 11.23 | 24.17 |
| NAV | 7.75 | 9.52 | 12.14 |
| ROCE (%) | 6.99 | 10.73 | 23.64 |
| EBITDA (%) | 3.01 | 6.10 | 15.73 |
| Debt/Equity | 1.58 | 1.74 | 1.35 |
Abha Power IPO GMP Today
| Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
| 3 December 2024 | 15 | – | 20,000 |
| 2 December 2024 | 15 | – | 20,000 |
| 30 November 2024 | 15 | – | 22,000 |
| 29 November 2024 | 15 | – | 22,000 |
| 28 November 2024 | 20 | – | 27,000 |
| 27 November 2024 | 17 | – | 26,500 |
Abha Power IPO Subscription – Live Updates
| Category | Non-retail | Retail | Total |
|---|---|---|---|
| Shares Offered | 24,38,400 | 24,38,400 | 48,76,800 |
| 29 Nov 2024 | 10.18 | 24.93 | 17.55 |
| 28 Nov 2024 | 1.32 | 6.63 | 3.97 |
| 27 Nov 2024 | 0.28 | 2.23 | 1.26 |
The market maker reservation portion of 2,62,400 shares is not included in the above calculations.
Abha Power IPO Allotment Status
Abha Power IPO allotment status is now available on Skyline Financial Services’ website. Click on this link to get allotment status.
Abha Power IPO Dates & Listing Performance
| IPO Opening Date | 27 November 2024 |
| IPO Closing Date | 29 November 2024 |
| Finalization of Basis of Allotment | 2 December 2024 |
| Initiation of refunds | 3 December 2024 |
| Transfer of shares to demat accounts | 3 December 2024 |
| IPO Listing Date | 4 December 2024 |
| Opening Price on NSE SME | INR 81.90 per share (up 9.20%) |
| Closing Price on NSE SME | INR 77.80 per share (up 3.73%) |
Abha Power Offer Lead Manager
HORIZON MANAGEMENT PRIVATE LIMITED
19 R N Mukherjee Road, Main Building, 2nd Floor,
Kolkata- 700 001, West Bengal, India
Phone:Â +91 33 4600 0607
Email:Â [email protected]
Website:Â www.horizonmanagement.in
Abha Power Offer Registrar
SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
D-153 A, 1st Floor, Okhla Industrial Area,
Phase – I, New Delhi-110020
Phone:Â +91-11-40450193-197
Email:Â [email protected]
Website:Â www.skylinerta.com
Abha Power Issue Contact Details
ABHA POWER AND STEEL LIMITED
Silpahri Industrial State, Bilaspur,
Chhattisgarh, India – 495001
Phone: +91 93022 21587
E-mail: [email protected]
Website: www.abhacast.com
IPO FAQs
What is Abha Power and Steel’s IPO size?
Abha Power’s offer size is INR 38.54 crores.
What is the Abha Power IPO price band?
Abha Power’s public offer price is INR 75 per share.
What is the lot size of the Abha Power and Steel IPO?
Abha Power’s offer lot size is 1,600 shares.
What is Abha Power IPO GMP today?
Abha Power and Steel IPO GMP today is INR 15 per share.
What is the Abha Power kostak rate today?
Abha Power kostak rate today is INR NA per application.
What is Abha Power Subject to Sauda rate today?
Abha Power is Subject to the Sauda rate today is INR 20,000 per application.
