Abha Power And Steel IPO Allotment Today: Steps To Check Status And Latest GMP
Investors who have bid for the Abha Power and Steel IPO can check its share allotment status on the websites of NSE and the registrar.
The initial public offering of Abha Power and Steel Ltd. saw a strong demand from investors on the final day of bidding on Nov. 29. The IPO opened for subscription on Nov. 27. Abha Power and Steel IPO share allotment status is expected to be finalised on Monday.
Abha Power and Steel IPO was subscribed 18 times with investors applying for 8,78,00,000 shares against 48,76,800 shares on offer.
Retail investors applied for 6,07,93,600 shares as compared to 24,38,400 shares reserved for them, subscribing their quota by 24.93 times. The Non-institutional investors (NIIs) applied for 2,45,50,400 shares against the 24,38,400 shares set aside for the category. The NIIs quota was subscribed 10.07 times.
The Rs 38.54-crore NSE SME offer was a combination of a fresh issue of 41.39 lakh shares, aggregating to Rs 31.04 crore, and an offer-for-sale (OFS) of 10 lakh shares worth Rs 7.5 crore.
Abha Power and Steel IPO price was set at Rs 75 per share.
Skyline Financial Services Pvt. Ltd. is the registrar for the issue. On the other hand, Horizon Management Pvt. Ltd. has been appointed as the book-running lead manager. The company's shares are expected to list on NSE SME on Wednesday, Dec. 4.
Investors who have bid for the Abha Power and Steel IPO can check its share allotment status on the websites of NSE and the registrar.
How To Check Abha Power And Steel IPO Share Allotment Status On NSE
Visit the allotment status check page of the NSE here
Log in with your username and password. (Create an account on the NSE to view IPO allotment status)
Select Abha Power an Steel Limited from the dropdown menu
Verify the applicant's PAN details
Enter the application number for the IPO
Click Submit option to check the allotment details
How To Check Abha Power And Steel IPO Allotment Status On Skyline Financial Services
Go to the official website of the registrar Skyline Financial Services Pvt. Ltd. here
Under the Check Application Status dropdown menu, select Abha Power and Steel Limited.
Choose from DPID/Client ID, Application Number or PAN
Enter the details as per your selection
Click on the Search button to view the allotment status
Abha Power and Steel IPO GMP Today
The grey market premium of Abha Power and Steel IPO is Rs 15 as of 12:31 p.m. on Dec. 30, according to InvestorGain. This indicates a listing gain of 20%, with the listing price being Rs 90 apiece.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
Use of Proceeds
Abha Power and Steel has proposed to utilise the proceeds from the fresh issue to fund capital expenditure in order to upgrade and modernise its manufacturing facility for expanding product portfolio. The rest of the funds will be used for working capital requirements and general corporate purposes.
About Abha Power and Steel Ltd.
Founded in 2004, Abha Power and Steel Ltd. is involved in casting and manufacturing iron and steel products. The company’s product portfolio includes mild steel, manganese steel, stainless steel, and low and high-alloy castings. It has two foundries located in the same premises at its manufacturing unit in Bilaspur, Chhattisgarh.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
