The initial share sale of Aditya Ultra Steel Ltd. got subscribed 10.58 times on the last day of subscription on Wednesday. The public offer received bids for 7,43,66,000 shares against 70,30,000 shares on offer, according to data available with Chittorgarh.
The SME IPO was subscribed 4.50 times on Tuesday, and 2.10 times on the first day of bidding on Monday, led by demand from retail investors.
The portion for Qualified Institutional Buyers (QIBs) garnered 1.21 times subscription while the quota for non-institutional investors got subscribed 12.16 times. The Retail Individual Investors (RIIs) part received 23.26 times subscription.
The three-day offer entailed a fresh issue of equity shares worth Rs 45.88 crore. The Aditya Ultra Steel IPO's price band was set at Rs 59-62 apiece. Retail investors needed to apply for a minimum of 2,000 shares, translating to an investment of Rs 1,24,000. High-net-worth individuals (HNIs) could invest in multiples of 4,000 shares, amounting to Rs 2,48,000.
The allotment of shares is expected to be finalised on September 12 with the listing scheduled on NSE SME on September 16.
Investors can check Aditya Ultra Steel IPO allotment status on official website of the registrar for the IPO — Cameo Corporate Services Limited.
Aditya Ultra Steel IPO Allotment Status On Cameo Corporate Services
Visit the website of Cameo Corporate Services at https://ipo.cameoindia.com/
Select 'Aditya Ultra Steel Limited' from the company drop-down menu.
Choose one of the following options: Application Number, PAN, or DP Client ID and input the required details
Complete the 'Captcha'.
Click on the 'Submit' button.
Your IPO allotment status will be displayed on the screen.
Aditya Ultra Steel IPO Timeline
IPO Open Date: Monday, September 9
IPO Close Date: Wednesday, September 11
Basis of Allotment: Thursday, September 12
Initiation of Refunds: Friday, September 13
Credit of Shares to Demat: Friday, September 13
Listing Date: Monday, September 16
About Aditya Ultra Steel Limited
Aditya Ultra Steel Limited, established in 2011, produces rolled steel products like TMT bars under the "Kamdhenu" brand. The company uses billets in a reheating furnace and rolling mill to manufacture these bars, mainly serving the construction and infrastructure sectors. Their manufacturing facility is located in Wankaner, Gujarat, with a production capacity of 1,08,000 MT of TMT bars. As of April 30, 2024, the company has 149 full-time employees, including executives.
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.
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