Aditya Ultra Steel IPO Set To Open On Sept 9. — Check Price Band And Other Key Details
Established in 2011, Aditya Ultra Steel Ltd. specialises in manufacturing rolled steel products, including TMT bars, marketed under the "Kamdhenu" brand.
Aditya Ultra Steel is gearing up for its initial public offering with a fresh issue worth Rs 45.88 crores. The offering includes 74 lakh shares, aiming to raise capital to fuel its expansion and operational needs.
Aditya Ultra Steel IPO Details
The Aditya Ultra Steel IPO opens for subscription on September 9 and will close on September 11. The allotment of shares is expected to be finalised on September 12 with the listing scheduled on NSE SME on September 16.
The Aditya Ultra Steel IPO's price band is between Rs 59 and Rs 62 per share. Retail investors need to apply for a minimum of 2,000 shares, translating to an investment of Rs 1,24,000. High-net-worth individuals (HNIs) can invest in multiples of 4,000 shares, amounting to Rs 2,48,000.
As per the company's red herring prospectus, out of the 74,00,000 shares, around 35% is reserved for retail investors, 50% for qualified institutional buyers and 15% for non-institutional investors.
Swastika Investmart Ltd. is the book-running lead manager of the Aditya Ultra Steel IPO, while Cameo Corporate Services Ltd. is the registrar for the issue.
About Aditya Ultra Steel Ltd.
Established in 2011, Aditya Ultra Steel Ltd. specialises in manufacturing rolled steel products, including TMT bars, marketed under the "Kamdhenu" brand. The company operates a production facility in Wankaner, Gujarat, with an annual capacity of 1,08,000 MT for TMT bars, serving the construction and infrastructure sectors.
Aditya Ultra Steel IPO: Use of Funds And Objectives
The IPO proceeds will be allocated towards capital expenditure in regard to investments in upgrading and expanding manufacturing facilities.
Funds will also be allocated towards working capital requirements to enhance operational liquidity and to fund various corporate needs.
Financial Performance
For the fiscal year ending March 31, 2024, Aditya Ultra Steel reported an 11% increase in revenue. The company also reported a profit of Rs 7.92 crore in 2024 as compared to Rs 2.78 crore in the previous year.
Disclaimer: Potential investors are advised to review the IPO prospectus and consult with financial advisors to understand the risks and rewards associated with investing in Aditya Ultra Steel Ltd.
