Abha Power and Steel's SME IPO opens today, seeking to raise Rs 38.5 crore. The offer price is Rs 75 per share, with the IPO closing on November 29. The company, based in Chhattisgarh, operates in the iron and steel foundry sector. Proceeds will fund facility upgrades and expansion. View More

The SME IPO of Abha Power and Steel will open for subscription today and will close on November 29. The company aims to raise Rs 38.5 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue. 1) Abha Power and Steel IPO size The IPO includes a fresh equity sale of 41.39 lakh shares and an offer for sale (OFS) of 10 lakh shares. 2) Abha Power and Steel IPO price band The company is offering its shares at Rs 75 apiece, and investors can bid for 1600 shares in 1 lot. 3) Abha Power and Steel GMP Stock TradingTechnical Analysis for Everyone - Technical Analysis CourseBy - Abhijit Paul, Technical Research Head, Fund Manager- ICICI SecuritiesView Program Stock TradingMarket 101: An Insight into Trendlines and MomentumBy - Rohit Srivastava, Founder- Indiacharts.comView Program Stock TradingA2Z of Stock Market for Beginners: Stock Market Course For BeginnersBy - elearnmarkets, Financial Education by StockEdgeView Program Stock TradingRSI Made Easy: RSI Trading CourseBy - Souradeep Dey, Equity and Commodity Trader, TrainerView Program Stock TradingStock Markets Made EasyBy - elearnmarkets, Financial Education by StockEdgeView Program Stock TradingOptions Trading Course For BeginnersBy - Chetan Panchamia, Options TraderView Program Stock TradingIchimoku Trading Unlocked: Expert Analysis and StrategyBy - Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology ExpertView Program Stock TradingMarkets 102: Mastering Sentiment Indicators for Swing and Positional TradingBy - Rohit Srivastava, Founder- Indiacharts.comView Program Stock TradingRSI Trading Techniques: Mastering the RSI IndicatorBy - Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology ExpertView Program Stock TradingCommodity Markets Made Easy: Commodity Trading CourseBy - elearnmarkets, Financial Education by StockEdgeView Program Stock TradingStock Valuation Made EasyBy - Rounak Gouti, Investment commentary writer, Experience in equity researchView Program Stock TradingMastering Options Selling: Advanced Strategies for SuccessBy - CA Manish Singh, Chartered Accountant, Professional Equity and Derivative TraderView Program Stock TradingAdvanced Strategies in Stock Market MasteryBy - CA Raj K Agrawal, Chartered AccountantView Program Stock TradingIntroduction to Technical Analysis & Candlestick TheoryBy - Dinesh Nagpal, Full Time Trader, Ichimoku & Trading Psychology ExpertView Program Stock TradingA2Z of Stock Trading - Online Stock Trading CourseBy - elearnmarkets, Financial Education by StockEdgeView Program Stock TradingTechnical Trading Made Easy: Online Certification CourseBy - Souradeep Dey, Equity and Commodity Trader, TrainerView Program Stock TradingRenko Chart Patterns Made EasyBy - Kaushik Akiwatkar, Derivative Trader and InvestorView Program In the unlisted market, the company's shares were trading with a GMP of Rs 0, indicating a premium of 0% over the issue price. 4) About Abha Power and Steel Strategically located in mineral reach, densely industrialized and one of the steel hubs of central India i.e. state of Chhattisgarh, the company is engaged in the business of iron and steel foundry , more particularly in the business of casting and manufacturing customised products in mostly all grades of iron and steel. 5) Industry Overview India is the world’s second-largest producer of crude steel, with an output of 125.32 MT of crude steel and finished steel production of 121.29 MT in FY23. India’s steel production is estimated to grow 4-7% to 123-127 MT in FY24. In FY24 (until November 2023), the production of crude steel and finished steel stood at 94.01 MT and 88.81 MT respectively. 6) Abha Power and Steel financial performance For the period ended October 15, 2024, the company clocked total revenues of Rs 37.2 crore and net profit of Rs 3.61 crore. 7) Objects of the offer The net proceeds from the public offer will be used for funding the capital expenditure towards modernization and upgradation of the manufacturing facilities in Bilaspur, Chhattisgarh to expand its product portfolio, working capital requirements and general corporate purposes. 8) Lead managers and Registrar Horizon Management is acting as the lead manager to the issue and Skyline Financial Services is the registrar. 9) Issue structure About 50% of the offer is reserved for retail investors and the other 50% for non-institutional investors. 10) Important dates The IPO opened on November 27 and will close on November 29. The final allotment will likely be made on December 2. The company's shares will likely get listed on December 4. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel) (You can now subscribe to our ETMarkets WhatsApp channel)