Aabha Power and Steel IPO: This Chhattisgarh company is launching IPO, know when it will enter the stock market…

Aabha Power and Steel IPO: The IPO of Abha Power and Steel Limited will open for subscription on 27th November and will close on 29th November. This is a fixed price issue of Rs 38.54 crore. This is a combination of 41.39 lakh shares worth Rs 31.04 crore and 10 lakh offer for sale shares worth Rs 7.50 crore.

Subhash Chand Agarwal, Satish Kumar Shah, Ankit Agarwal, Aatish Agarwal, Leela Devi Agarwal and Sunflower are the promoters of Commotrade Private Limited. The price of Aabha Power and Steel IPO is Rs 75 per share. The minimum lot size with an application is 1600 shares. The minimum investment amount for retail investors is Rs 1 lakh 20 thousand.

The company will utilize the net proceeds from this issue for modernization and upgradation of its manufacturing facility located at Bilaspur (Chhattisgarh), to meet the working capital requirements of the company and for general corporate purposes.

Established in 2004, Abha Power & Steel Limited operates in the iron and steel foundry sector, specialized in casting and manufacturing of customized products in almost all grades of iron and steel.

The company's product portfolio includes all grades of Mild Steel, Spheroidal Graphite Cast Iron, Manganese Steel, Stainless Steel, Low and High Alloy Castings (High Cr and High Ni), HRCS and WRCS, ranging from 0.5 Kg to 6 Ton in single cast iron. Are of finished casting. The company has a portfolio of more than 1000 products.

In FY 2024, the company's revenue was Rs 51.82 crore and profit after tax was Rs 3.78 crore. In the current financial year till October 15, 2024, the company's revenue is Rs 37.54 crore and profit after tax is Rs 3.61 crore.