Abha Power and Steel IPO subscription started on Wednesday, November 27th, and will close on November 29th as per the schedule. The price band is set at ₹75 per share with a face value of ₹10.
Abha Power and Steel IPO Subscription Status
Abha Power and Steel IPO Subscribed over 3.94x on its second day till 5.00 PM on 28th November.
- Abha Power IPO subscription QIB investors portion is 0.00 times, while NII subscribed 1.22 times and RII investors subscribed 6.66 times.
- The company has received bids for 1,92,12,800 shares against 48,76,800 shares on offer on the second day of subscription.
- Abha Power IPO Subscribed over 3.94x on its second day.
- Abha Power IPO Subscribed over 1.29x on its first day.
About Abha Power and Steel
Abha Power and Steel, established on May 27, 2004, is renowned for its expertise in the casting and production of custom-made products across a diverse selection of iron and steel grades with 20 years of experience now. Its manufacturing facility comes from its raw material, as a result, it reduces transportation costs and provides advantages and cost benefits that meet operating margins. This company has deep-driven knowledgeable and workaholic promoters and directors with years of experience providing solutions and maintaining the growth and sustainability of business. Further, As of 31 March 2024, the company’s manufacturing plant had a production capacity of 14,400 metric tonnes annually (MTPA). This company received a PED Certificate from TUV-NORD describing that their Quality management framework complies with the European standards for manufacturing castings. Its net worth for FY 2024 is 3.78 crores and its revenue for 2024 is 51.75 crores. For more capital growth this company is going to launch its IPO of 38.54 crores.
Abha Power and Steel Financial Report
The company reported revenue of ₹51.75 crores in 2024 against ₹54.70 crore in 2023. The company reported Profit of ₹3.78 crores in 2024 against Profit of ₹1.40 crores in 2023.
Abha Power and Steel GMP:
Abha Power GMP was ₹20 as of Thursday, November 28th. That indicates the IPO is trading at ₹95 with ₹20 premium in the grey market against the issue price of ₹75.
