Abha Power IPO subscribed overall 18.00 times on the last day, while a retail quota was subscribed 24.93 times and other was 10.07 %respectively.
Details About Abha Power’s IPO
Abha Power got approval from SEBI for an IPO of ₹38.54 crores to raise funds and maintain financial stability. This IPO was a combination fresh issue of ₹31.04 crores and an offer for sale of up to 10,00,000 equity shares with a face value of ₹10 each. The face value of each share was Rs 10. Moreover, the company has set up a price band between ₹75 per share. In this IPO total of 1,600 shares were available in 1 lot size for the minimum Retail category and maximum as well. While S- HNI total of 3,200 shares in 2 lot sizes.
To invest in this IPO, each investor category has specific investment amounts:
- Retail Investors: Minimum and maximum investment of ₹120,000
- SHNI (S-HNI): Minimum investment of ₹240,000.
Subscription duration of Abha Power IPO
This IPO started on November 27, 2024, and closed on November 29, 2024. The investor’s allotment date was December 2, 2024, and they received a refund on December 3, 2024.
Funds Deployment of This IPO
- Funding the capital expenditure towards modernization and upgradation of the manufacturing facilities in Bilaspur, Chhattisgarh to expand our product portfolio;
- Funding working capital requirements of our Company;
- General Corporate Purposes. (Collectively, referred to herein as the “Objects”)
About Abha Power Company
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 Company’s Financial Background
The company reported revenue of ₹51.75 crore 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.
