Abha Power IPO Date, Price, GMP, Review, Details, Issue Date, Lot Size, Allotment, Subscription Status
The Abha Power IPO is set to open on November 27, 2024, and will close on November 29, 2024. This is a Fixed Price Issue IPO, through which the company aims to raise approximately ₹38.54 crores, including a 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 per share.
The IPO is priced at ₹75 per share, with a retail investor quota of 50%, no allocation for QIB, and the remaining 50% for HNIs. The shares are expected to be listed on the NSE SME platform on December 4, 2024, following allotment finalization on December 2, 2024.
Financial Overview
Abha Power reported a revenue of ₹51.75 crores in FY2024, slightly down from ₹54.70 crores in FY2023. However, the profit surged to ₹3.78 crores in FY2024, up from ₹1.40 crores in FY2023. Based on the company’s financials, the IPO is considered suitable for long-term investment.
Abha Power IPO Details
| Category | Details |
|---|---|
| Open Date | November 27, 2024 |
| Close Date | November 29, 2024 |
| Face Value | ₹10 per equity share |
| Price Band | ₹75 per share |
| Issue Size | ₹38.54 crores |
| Fresh Issue | ₹31.04 crores |
| Offer for Sale | 10,00,000 shares |
| Issue Type | Fixed Price Issue |
| Listing | NSE SME |
| Retail Quota | 50% |
| NII Quota | 50% |
IPO Timeline
| Event | Date |
|---|---|
| IPO Open | November 27, 2024 |
| IPO Close | November 29, 2024 |
| Allotment Finalized | December 2, 2024 |
| Refunds Processed | December 3, 2024 |
| Demat Credit | December 3, 2024 |
| Listing Date | December 4, 2024 |
Promoters
The company’s promoters include Subhash Chand Agrawal, Ankit Agrawal, Atish Agrawal, Satish Kumar Shah, and Sunflower Commotrade Private Limited.
Market Lot
| Application Type | Lot Size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 1,600 | ₹120,000 |
| Retail Maximum | 1 | 1,600 | ₹120,000 |
| S-HNI Minimum | 2 | 3,200 | ₹240,000 |
Company Overview
Established on May 27, 2004, Abha Power and Steel Limited specializes in the casting and production of custom iron and steel products. The company operates a 14,400 MTPA manufacturing facility in Bilaspur, Chhattisgarh, with access to in-house raw materials that reduce transportation costs and improve margins. It has received the PED Certificate from TUV-NORD, affirming compliance with European quality standards.
In FY2024, the company reported a net worth of ₹47.36 crores, with plans to utilize IPO proceeds to modernize and expand its manufacturing facilities and meet working capital requirements.
Financial Performance
| Year | Revenue (₹ Cr) | Expense (₹ Cr) | Profit (₹ Cr) | Assets (₹ Cr) |
|---|---|---|---|---|
| 2022 | 54.52 | 54.67 | 0.72 | 35.37 |
| 2023 | 54.70 | 53.15 | 1.40 | 44.77 |
| 2024 | 51.75 | 46.76 | 3.78 | 47.36 |
Valuation Metrics
| Metric | Value |
|---|---|
| ROE | 24.17% |
| ROCE | 23.64% |
| EBITDA Margin | 15.73% |
| PAT Margin | 7.31% |
| Debt-to-Equity Ratio | 1.35 |
| EPS (Basic) | ₹2.62 |
| NAV | ₹12.14 |
Peer Comparison
| Company | EPS | P/E Ratio | RoNW (%) | NAV | Revenue (₹ Cr) |
|---|---|---|---|---|---|
| Bhagwati Autocast Ltd | 24.10 | 20.40 | 18.40% | 142.00 | 134.00 |
| Nelcast Ltd (Consolidated) | 6.25 | 32.90 | 8.05% | 59.70 | 1,267.00 |
Objects of the Issue
- Modernization and upgradation of manufacturing facilities.
- Funding working capital requirements.
- General corporate purposes.
Key Dates and Application Process
- Apply via ASBA through your bank account or UPI.
- IPO allotment will be finalized by December 2, 2024, with refunds processed by December 3, 2024.
For further details, visit the company website: www.abhacast.com.
