Abha Power and Steel Ltd - IPO

Abha Power and Steel Ltd IPO Details

Initial public offer of 51,39,200 equity shares of Rs. 10 each (Equity Shares) of Abha Power and Steel Limited (the Company or the Issuer) for cash at a price of Rs. 75/- per share (the Issue Price), aggregating to Rs. 38.54 crores (The Issue), consisting of fresh issue of 41,39,200 equity shares aggregating to Rs. 31.04 crores and an offer for sale of 10,00,000 equity shares by Subhash Chand Agrawal (The Promoters Selling Shareholder or The Selling Shareholder) aggregating to Rs. 7.50 crores (Offer for Sale), of which 2,62,400 equity shares of Rs. 10 each will be reserved for subscription by aggregating market maker to the issue (the Market Maker Reservation Portion). The issue less than the market maker reservation portion i.e. issue of 48,76,800 equity shares of Rs. 10 each is hereinafter referred to as the Net Issue. The issue and the net issue will constitute 27.65% and 26.24% respectively of the post issue paid up equity share capital of the company.

Objective of issue

Funding the capital expenditure towards modernization and upgradation of the mfg facility in. Funding working capital requirements of the company. General corporate purposes.

Abha Power and Steel Ltd Contact Details

Abha Power and Steel Ltd, D-153/A 1st Flr, Okhla Industrial Are, Phase-I, New Delhi-110020

Phone - 91-11-26812682

Fax - 91-11-30857562

Email - cs@abhacast.com

Website - www.abhacast.com