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Abha Power and IPO
Price Band
₹
Issue Size
₹38.54 Cr
Lot Size
1,600 shares
Min Investment
₹120,000
GMP
+₹15.0 (20.0%)
Issue Price
₹75.0
Subject to Sauda
₹18200
Paid only if allotted
Abha Power and IPO AI Summary
- Abha Power and IPO is listed on NSE SME in the Castings & Forgings sector.
- Subscription window: 27 Nov–29 Nov 2024, listing on 04 Dec 2024.
- Current GMP is +₹15.0 (20.0%) — unofficial and can change daily.
Abha Power and Steel Limited is set to raise funds through its IPO to enhance its manufacturing capabilities and meet working capital needs. With a diverse product range and established client relationships, the company aims for growth in the competitive casting and manufacturing sector.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Abha Power and IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 29 Nov 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Abha Power and IPO Grey Market Premium (GMP) Today
GMP
+₹15.0
GMP %
+20.0%
Est. Listing
₹90.0
Updated: 25 Jul 2026 14:03
About the Company
Founded in 2004, Abha Power and Steel Limited is engaged in the business of casting and manufacturing iron and steel products. The company makes a wide variety of products, including mild steel, manganese steel, stainless steel, and low and high-alloy castings. Abha Power and Steel Limited's two foundries—SG Iron Foundry and Steel Foundry— and its manufacturing facility are located in Bilaspur, Chhattisgarh, covering an area of approximately 319,200 square feet. The facility is ISO 9001:2015 certified for the design, development, manufacturing, and supply of iron and steel castings and assemblies for industries such as steel, power, and cement. It also produces parts for the Indian Railways, including SGCI inserts, adapters (all types), valve castings, and similar items. As of March 31, 2024, the total installed capacity of the plant was 14,400 metric tonnes per annum (MTPA). Abha Power and Steel Limited has a diverse portfolio of over 1,000 products, it caters to various industries. The company's clientele includes Vishal Nirmiti Private Limited, Raghavendra Rail Lines Pvt. Ltd., The Indian Hume Pipe Co. Ltd., Beekay Engg Corporation, Ashi Limited, SECR Railway, SCR Railway, Supertech Rail Infra Projects Pvt. Ltd., Northern Railway, and Orissa Concrete & Allied Industries Ltd., among others. As of April 30, 2024, the company employed 65 people, including senior management. Competitve Strengths: Fully equipped manufacturing facility Strategically located Manufacturing Facility Captive Power plant Diversified customer base and long-standing relationships with the customers Quality assurance and accreditations Well-experienced management team with proven project management and implementation skills Healthy Growth in profitability
Company Financials (₹ Cr)
As of 2024-10-15
| Period Ended | 15 Oct 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 51.36 | 47.36 | 44.77 | 35.37 |
| Total Income | 37.55 | 51.83 | 55.12 | 54.98 |
| Profit After Tax | 3.62 | 3.78 | 1.40 | -0.72 |
| NET Worth | 21.16 | 17.54 | 13.75 | 11.20 |
| Reserves and Surplus | 6.71 | 3.09 | 8.94 | 6.78 |
| Total Borrowing | 21.77 | 23.73 | 23.93 | 17.66 |
Key Ratios
EPS
₹2.62
NAV
₹12.14
ROE
24.17%
ROCE
23.64%
RoNW
24.17%
P/B Value
6.18
P/E Ratio
28.65
Market Cap
₹139.41 Cr
PAT Margin
7.31%
Debt/Equity
1.35
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Nelcast Ltd. | 59.7 | 8.05% | 32.9 | 6.25 | 6.25 |
| Bhagwati Autocast Ltd. | 142 | 18.4% | 20.4 | 24.1 | 24.1 |
| Abha Power and Steel Limited This IPO | 12.14 | 24.17% | — | 2.62 | 2.62 |
Promoters
Subhash Chand Agrawal, Satish Kumar Shah, Ankit Agrawal, Atish Agrawal, Leela Devi Agrawal and Sunflower Commotrade Pvt.Ltd.
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding the capital expenditure towards modernization and upgradation of the manufacturing facilities in Bilaspur, Chhattisgarh to expand our product portfolio 16.39 2 Funding working capital requirements of the Company 3.00 3 General Corporate Purposes. 7.45
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹54.98 Cr in the year ending 31 Mar 2022, slightly increasing to ₹55.12 Cr by 31 Mar 2023, and then declining to ₹51.83 Cr by 31 Mar 2024. The most recent figure of ₹37.55 Cr as of 15 Oct 2024 is not directly comparable as it represents a 9-month period.
Profit Trend
Profit After Tax was negative at ₹-0.72 Cr for the year ending 31 Mar 2022, improving to ₹1.40 Cr by 31 Mar 2023, and further increasing to ₹3.78 Cr by 31 Mar 2024. The latest figure of ₹3.62 Cr as of 15 Oct 2024 is also a 9-month figure, making direct comparison with prior full years inappropriate.
Valuation
At the issue price of ₹75.0, Abha Power and Steel Limited's implied P/E ratio is approximately 28.65, compared to peers trading at P/E ratios ranging from 20.4 to 32.9.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO in the stock market, based on informal trading before the official listing. A positive GMP suggests that the stock may list at a higher price than the issue price, while a negative GMP indicates the opposite.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. Factors to consider include the company's growth potential, market conditions, and financial health.
Who May Want to Wait
Investors with a low risk tolerance or those looking for guaranteed returns may want to avoid IPOs like this, as they can be subject to price fluctuations and market uncertainties.
IPO Timeline, Explained
The IPO opens for subscription on November 27, 2024, and closes on November 29, 2024. Allotment of shares will be done on December 2, 2024, and the shares are expected to be listed on December 4, 2024.
Listing Gains — The Risk
Listing-day gains can be unpredictable. While some IPOs may experience a surge in price on their first day of trading, others may not perform as expected. Investors should be prepared for the possibility of price volatility and should not assume that listing gains will be realized.
This evaluation is generated from Abha Power and's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Abha Power and IPO GMP today?
Abha Power and IPO GMP today is +₹15.0 (20.0%). GMP is an unofficial grey-market indicator and can change daily.
When does Abha Power and IPO open and close?
Abha Power and IPO opens on 27 November 2024 and closes on 29 November 2024.
When does Abha Power and IPO list on the stock exchange?
Abha Power and IPO listed on 04 December 2024 at ₹90.0.
What is the lot size for Abha Power and IPO?
The lot size for Abha Power and IPO is 1600 shares, requiring a minimum investment of ₹120,000.
What is the lot size for the IPO?
The lot size for the IPO is 1,600 shares.
What is the minimum investment required?
The minimum investment required is ₹120,000.
What is the issue price of the IPO?
The issue price is ₹75.0 per share.
When is the listing date for the IPO?
The listing date is December 4, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of an IPO based on informal trading before the official listing.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
27 Nov 2024
Close
29 Nov 2024
Allotment
02 Dec 2024
Listing
04 Dec 2024
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