Mumbai: Abha Power and Steel IPO, a fixed price issue of Rs 38.54 crore, closed for subscription on November 29, 2024 (Friday). It opened for subscription on 27 November. Abha Power and Steel IPO price range is fixed at Rs 75 per share.
The retail investors are required to bid for a minimum lot size for an application of 1600 shares of the NSE SME IPO, amounting to Rs 120,000. The HNI category investors are required to bid for 2 lots, amounting to Rs 240,000.
Abha Power & Steel IPO Allotment, Listing
The Abha Power and Steel IPO allotment is expected to be finalised on December 2, 2024. The share of the company will list on NSE SME with a tentative listing date fixed December 4, 2024. The shares are likely to be credited to the demat accounts of eligible shareholders on December 3. The initiation of refunds process is scheduled to take place on 3rd December.
Abha Power and Steel IPO book running lead manager: Horizon Management Private Limited. Skyline Financial Services Private Ltd is the registrar for the issue and Giriraj Stock Broking is the market maker.
Abha Power & Steel IPO Subscription Status, GMP
As per the data available, Abha Power and Steel IPO received a subscription of 3.99 times till nOvember 28 evening. The NSE SME IPO fetched 6.76 subscriptions in the retail category in the QIB category, while NII portion received 1.22 subscription.
Abha Power and Steel SME IPO latest GMP stood at Rs 15 on November 29 morning, investorgain reported. With the price band of Rs 75, the shares are estimated to be listed at Rs 90, indicating 20 per cent gains. It may be noted that grey market price are not official figures.
Abha Power and Steel Limited came into existence in 2004 and is engaged in the business of casting and manufacturing iron and steel products. It manufactures various products, including stainless steel, manganese steel, low and high-alloy castings and mild steel.
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SME IPO alert: The Abha Power and Steel IPO close on November 29, 2024. It has received a subscription of 3.99 times, as per data available. The IPO price band is Rs 75 per share, and allotment is expected on December 2. The shares will list on NSE SME likely on December 4. The grey market premium (GMP) is reported at Rs 15. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
