Abha Power and Steel Limited IPO

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The company specializes in casting and manufacturing customized products across nearly all grades of iron and steel. Its versatile portfolio includes mild steel, spheroidal graphite cast iron (SGCI), manganese steel, stainless steel, and various high-alloy castings ranging from 0.5 kg to 6 tonnes in single finished pieces.

Industry Presence

The company caters to a wide range of industries, including:
i. Indian Railways                          ii. Steel and cement manufacturing                        iii. Heavy engineering
iv. Mining                                         v. Power generation

It has a diverse portfolio of over 1,000 products and serves both domestic and international markets, exporting to countries like UAE, Germany, Canada, Italy, and the Netherlands. A strong focus on quality, safety, and price competitiveness has helped maintain long-term customer relationships, with a significant portion of revenue derived from repeat customers.

Sustainability and Energy Efficiency

The company has an in-house solar power plant with a capacity of 2.99 MW, contributing to approximately 35% of its total power consumption for FY 2024. Plans are underway to expand this capacity, reducing dependency on external electricity sources and further optimizing operational costs.

Growth Outlook

With its robust technical capabilities, industry expertise, and plans for sustainable energy expansion, the company is well-positioned to strengthen its foothold in domestic and international markets while diversifying its product offerings to meet evolving customer demands.

Objects of the Abha Power and Steel Limited IPO:

The Company proposes to utilize the Net Proceeds towards funding the following objectives: i. Funding the capital expenditure towards modernization and upgradation of the manufacturing facilities in Bilaspur, Chhattisgarh to expand its product portfolio; ii. Funding working capital requirements of the Company; and iii. General Corporate Purposes. Total number of shares issue: - i. Fresh issue is 4,139,200 shares, ii. Offer for sale is 1,000,000 shares.
DRHP of Abha Power and Steel Limited IPO
RHP of Abha Power and Steel Limited IPO

Abha Power and Steel Limited IPO Details:

Open Date: Nov 27 2024
Close Date: Nov 29 2024
Total Shares: 5,139,200
Face Value: ₹ 10 Per Equity Share
Issue Size: 38.54 Cr.
Lot Size: 1600 Shares
Issue Price: ₹ 75 Per Equity Share
Listing At: NSE Emerge
Listing Date: Dec 04 2024

Promoters And Management:

Atish Agrawal is the Managing Director and one of the Promoters of the Company. He has completed his B. Tech from IIT Varanasi, BHU. He has worked as a Management Trainee in Tata Steel from July, 2008 till August, 2009. He has been associated with the company from 2009. He is having more than 15 year of experience in manufacturing of steel and alloys. He is presently responsible for manufacturing operation and overall management of the Company. Satish Kumar Shah is a Whole-time Director and one of the Promoters of the Company. He holds a Bachelor’s degree in Science and Master in Botany from Ranchi University. He was previously involved in Dolomite Mining. He is associated with the Company since 2004. He is looking after the project planning, research and development of new products, plant maintenance and general administration. Subhash Chand Agrawal is Non-Executive Non-Independent Director and one of the Promoters of the Company. Education qualification: Nil. He is having 20 years of experience in manufacturing of alloys and steel.

Financials of Abha Power and Steel Limited IPO: 

To be updated shortly.

Comparison With Peers:

To be updated shortly.

Recommendation on Abha Power and Steel Limited IPO:

To be updated shortly.

Lead Manager of Abha Power and Steel Limited IPO:

  1. Horizon Financial Pvt Ltd

Registrar of Abha Power and Steel Limited IPO:

  1. Skyline Financial Services Private Ltd

Company Address:

Abha Power and Steel Limited Silpahri Industrial State, Bilaspur, 495001 Phone: +91 93022 21587 Email: cs@abhacast.com Website: https://abhacast.com/

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