Aditya Ultra Steel is launching a book-built IPO worth Rs 45.88 crores, comprising a fresh issue of 74 lakh shares. This upcoming IPO opens for subscription on September 9, 2024, and closes on September 11, 2024. Allotment is expected to be finalised on September 12, 2024, with the tentative listing on NSE SME scheduled for September 16, 2024.
The IPO price band is set between ₹59 to ₹62 per share, and the minimum lot size is 2000 shares.
For retail investors, the minimum investment is ₹124,000, while HNIs need to invest in at least 2 lots (4,000 shares) at ₹248,000. Swastika Investmart Ltd is managing the issue, Cameo Corporate Services Limited serves as the registrar and Sunflower Broking acts as the market maker.
If you're considering IPO investment, Aditya Ultra Steel could be one of the upcoming IPOs to invest in during September 2024.
The Aditya Ultra Steel IPO is a fresh issue offering shares for subscription from September 9 to 11, 2024. This upcoming IPO presents an opportunity for investors looking to invest in the NSE SME segment. Details such as price band, lot size, and investment requirements will guide interested investors.
| Aditya Ultra Steel Limited IPO date | September 9, 2024 to September 11, 2024 |
| Listing date | September 9, 2024 to September 11, 2024 |
| Price band | ₹59 to ₹62 per share |
| Face value | ₹10 per share |
| Total issue size | 7,400,000 shares(aggregating up to ₹45.88 Cr) |
| Lot Size | 2000 Shares |
| Issue type | Book Built Issue IPO |
| Share holding pre issue | 17,435,568 |
| Share holding post issue | 24,835,568 |
| Fresh issue | 7,400,000 shares(aggregating up to ₹45.88 Cr) |
| Market maker portion | 370,000 sharesSunflower Broking |
| Listing at | NSE SME |
The Aditya Ultra Steel IPO follows a tentative timeline, including key dates for subscription opening, closing, allotment finalisation, and listing on NSE SME. Investors can refer to this schedule to track important milestones, ensuring they stay updated throughout the IPO process for a smooth investment experience.
| IPO open date | September 9, 2024, Monday |
| IPO close date | September 11, 2024, Wednesday |
| Basis of allotment | September 12, 2024, Thursday |
| Initiation of refunds | September 13, 2024, Friday |
| Credit of shares to demat | September 13, 2024, Friday |
| Listing date | September 16, 2024, Monday |
| Cut-off time for UPI mandate confirmation | September 11, 2024, 5 PM |
Founded in 2011, Aditya Ultra Steel Limited specialises in manufacturing rolled steel products, specifically TMT bars, under the "Kamdhenu" brand. The company produces these bars from billets using a reheating furnace and rolling mill, primarily serving the construction and infrastructure industries. Its manufacturing facility, based in Wankaner, Gujarat, has a production capacity of 1,08,000 MT for TMT bars. As of April 30 2024, the company employed 149 full-time staff, including executives.
Aditya Ultra Steel Limited experienced significant financial growth in the financial years ending March 31, 2023, and March 31, 2024. Revenue increased by 11%, while profit after tax (PAT) saw a substantial rise of 185%, reflecting strong operational performance and profitability improvements during this period. Full financial details are listed below.
| Period ended | March 31, 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Revenue | 58,856.29 | 53,048.91 | 51,598.34 |
| Assets | 14,752.33 | 9,734.65 | 9,156.62 |
| Net worth | 3,758.21 | 2,865.86 | 2,588.20 |
| Profit after tax | 792.34 | 277.66 | 488.9 |
| Total borrowing | 5,427.07 | 4,984.14 | 4,695.12 |
| Reserves and surplus | 3,128.60 | 2,739.81 | 2,462.15 |
Aditya Ultra Steel boasts a solid foothold in the TMT bar manufacturing industry, with strong brand recognition through the "Kamdhenu" name. Its strategically positioned manufacturing facility in Gujarat allows the company to efficiently serve the construction and infrastructure sectors with a focused product portfolio.
However, the company faces challenges due to its heavy reliance on a single product category—TMT bars—and the geographical concentration of its manufacturing facilities. Additionally, it remains vulnerable to fluctuations in raw material prices, which could impact profitability.
Aditya Ultra Steel's upcoming IPO offers investors a chance to participate in a company with an established presence in the TMT bar manufacturing sector. Despite its strengths, such as strategic location and brand recognition, potential weaknesses like dependence on a single product line and vulnerability to raw material price changes must be considered. The latest grey market premium (GMP) for the Aditya Ultra Steel SME IPO is ₹0 as of September 9, 2024.
With no major movement observed in the GMP over the last seven sessions, the estimated listing price stands at ₹62 per share, with no expected gain or loss. Stay tuned for daily Aditya Ultra Steel Limited IPO GMP updates and further insights into this IPO's performance leading up to listing day.
The Aditya Ultra Steel Limited IPO is an SME issue offering 7,400,000 equity shares, each with a face value of ₹10, amounting to ₹45.88 crores. The price range is set between ₹59 and ₹62 per share, with a minimum order requirement of 2000 shares. The IPO will be open for subscription from September 9, 2024, to September 11, 2024. Cameo Corporate Services Limited is the appointed registrar for the IPO, and the shares are expected to be listed on the NSE SME.
The Aditya Ultra Steel IPO will open for subscription on September 9, 2024, and will close on September 11, 2024.
The Basis of Allotment for the Aditya Ultra Steel IPO will be finalised on Thursday, September 12, 2024. The allotted shares are expected to be credited to your demat account by Friday, September 13, 2024. Once finalised, you can check the Aditya Ultra Steel IPO allotment status.
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