The Aditya Ultra Steel IPO is a book-built issue valued at ₹45.88 crores, consisting entirely of a fresh issue of 74 lakh shares.
The IPO will be open for subscription from September 9 to September 11, 2024, with the allotment expected to be finalized on September 12, 2024. The IPO is set to list on the NSE SME, with a tentative listing date of September 16, 2024.
The price band is ₹59 to ₹62 per share, with a minimum lot size of 2,000 shares. Retail investors need a minimum investment of ₹124,000, while HNIs require 2 lots (4,000 shares), totaling ₹248,000.
Swastika Investmart Ltd is the book-running lead manager, Cameo Corporate Services Limited is the registrar, and Sunflower Broking is the market maker for the IPO.
Below are the details of Aditya Ultra Steel Limited IPO Details, Timeline, Lot Size, Anchor Investor, and Promoter Holding.
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Aditya Ultra Steel Limited IPO Details
| IPO Date | September 9, 2024 to September 11, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹59 to ₹62 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 7,400,000 shares (aggregating up to ₹45.88 Cr) |
| Fresh Issue | 7,400,000 shares (aggregating up to ₹45.88 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 17,435,568 |
| Share holding post issue | 24,835,568 |
| Market Maker portion | 370,000 shares |
Aditya Ultra Steel Limited IPO Timeline
| IPO Open Date | Monday, September 9, 2024 |
| IPO Close Date | Wednesday, September 11, 2024 |
| Basis of Allotment | Thursday, September 12, 2024 |
| Initiation of Refunds | Friday, September 13, 2024 |
| Credit of Shares to Demat | Friday, September 13, 2024 |
| Listing Date | Monday, September 16, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 11, 2024 |
Aditya Ultra Steel Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹124,000 |
| Retail (Max) | 1 | 2000 | ₹124,000 |
| HNI (Min) | 2 | 4,000 | ₹248,000 |
Aditya Ultra Steel Limited IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 3,70,000 (5%) |
| QIB Shares Offered | 35,12,000 (47.46%) |
| NII (HNI) Shares Offered | 10,56,000 (14.27%) |
| Retail Shares Offered | 24,62,000 (33.27%) |
| Total Shares Offered | 74,00,000 (100%) |
Aditya Ultra Steel Limited IPO Financial Information
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | |||||||||||||||||||||||||||
| Assets | 14,752.33 | 9,734.65 | 9,156.62 | |||||||||||||||||||||||||||
| Revenue | 58,856.29 | 53,048.91 | 51,598.34 | |||||||||||||||||||||||||||
| Profit After Tax | 792.34 | 277.66 | 488.9 | |||||||||||||||||||||||||||
| Net Worth | 3,758.21 | 2,865.86 | 2,588.2 | |||||||||||||||||||||||||||
| Reserves and Surplus | 3,128.6 | 2,739.81 | 2,462.15 | |||||||||||||||||||||||||||
| Total Borrowing | 5,427.07 | 4,984.14 | 4,695.12 | |||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||
Aditya Ultra Steel Limited IPO Review
Aditya Ultra Steel Ltd. (AUSL) manufactures TMT bars under the Kamdhenu brand, mainly serving the construction industry in Gujarat. With over 12 years in the industry, AUSL has grown significantly, with a 26.16% CAGR in revenue. The company has a production capacity of 1,08,000 MT and a network of 73 dealers.
AUSL’s IPO aims to raise Rs. 45.88 crores, with a price band of Rs. 59-62 per share. The IPO opens on September 9, 2024, and closes on September 11, 2024. Proceeds will be used for a solar plant, working capital, and general purposes.
AUSL’s financials show mixed performance, with FY24 seeing better margins. The IPO is priced at a P/E of 19.44, with the company focusing on long-term growth.
Investors may consider investing for the medium to long term, given AUSL’s established market position and recent improvements in performance.