Abha Power and Steel IPO : There is good news for people investing in IPO. The IPO of another company is opening next week. This IPO is of Abha Power and Steel Limited. The IPO of Chhattisgarh-based Abha Power and Steel Limited will open on November 27. Investors can invest in this issue till 29 November. The company has fixed a price band of Rs 75 for its IPO. The company will try to raise Rs 38.5 crore through IPO.
What are the details?
The IPO is a combination of fresh issue of 41.39 lakh shares and sale of 10 lakh shares by promoter Subhash Chandra Agarwal. Investors will get Rs. 1.2 lakh and can apply for a minimum of 1,600 equity shares. Cannot invest more than Rs 2 lakh. Investors can start trading in Abha Power and Steel shares on NSE Emerge from December 4. Let us tell you that the shares of the company have not yet started trading in the gray market.
Company Operations With two manufacturing plants in Chhattisgarh with an installed capacity of 14,400 metric tonnes per annum (MTPA), the iron and steel foundry operator is primarily active in the business of casting and manufacturing of customized products in all grades of iron and steel. It is an RDSO-approved vendor for the supply of certain casting products to Indian Railways, and an approved vendor to National Mineral Development Corporation and Integral Coach Factory, Chennai.
