Aditya Ultra Steel IPO: Things To Know Before Applying

• Aditya Ultra Steel IPO is a book-built issue of Rs 45.88 crores.
• This upcoming IPO bidding opens on Sep 9 and closes on Sep 11, 2024.
• Aditya Ultra Steel SME IPO price is set at Rs 62 per share.
• The minimum investment required is Rs 1,24,000.

Aditya Ultra Steel IPO is open for subscription starting Monday, September 9, 2024, and closing on Wednesday, September 11, 2024. This upcoming IPO's price is Rs 62 per share. The minimum lot size set for the retail category is 2000 shares. Meanwhile, the minimum lot size for the HNI category is 2 lots consisting of 4000 shares. 

The minimum investment required for retail category investors is Rs 1,24,000 (62 x 2000 shares). However, for the HNI category, the minimum investment amount required is Rs 2,48,000 (62 x 4000 shares).

Aditya Ultra Steel IPO is a book-built issue of Rs 45.88 crores. This upcoming IPO is an entirely new issue of 74 lakh equity shares. The allotment for this new IPO is expected to be finalised on Thursday, September 12, 2024. Aditya Ultra Steel IPO will be listed on NSE SME on Monday, September 16, 2024. 

Swastika Investmart Limited is the book-running lead manager, Cameo Corporate Services Limited is the registrar, and Sunflower Broking is the market maker for this IPO.

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Aditya Ultra Steel IPO: About Company

Aditya Ultra Steel Limited was founded in 2011 and is engaged in the manufacturing of rolled steel products like TMT bars under the brand name Kamdhenu.The company manufactures TMT bars from billets in a reheating furnace and a rolling mill, mainly catering to the construction industry and infrastructure development. 

The organisation began its operations in 2011 and was later transformed into a public limited company in 2018. 

The company is backed by a group of young and experienced entrepreneurs who have spent way over 17 years in the steel sector. The TMT manufacturing plant is located at Bhalgam in Rajkot District and is compacted into 17 acres of land. They manufacture TMT bars in sizes 8 mm, 10 mm, 12 mm, 16 mm, 20 mm, 25 mm, and 32 mm. As of now, this firm has an overall capacity to produce about 1,08,000 MT for TMT bars.

Aditya Ultra Steel IPO: Objectives

The main objective of this IPO is to raise funds from the public, which will be used to meet the capital expenditure and day-to-day needs for the functioning of the business. Also, the funds will cover the issue expenses and fulfil the general corporate purposes.

Aditya Ultra Steel IPO: Other Important Details

Time-Table of Aditya Ultra Steel IPO

Aditya Ultra Steel IPO: Financial Metrics (Amt in Rs Lakhs)

Aditya Ultra Steel posted revenue of Rs 58,856.29 lakhs and net profit of Rs 792.34 lakhs for the period ending on 31 Mar 2024. The company’s revenue increased by 11% and net profit increased by 185% between the FY ending on 31 Mar 2024 and 31 Mar 2023. 

Minimum Investment: Lot Size Details 

Promoters of Aditya Ultra Steel Limited and Their Holdings

The promoters of Aditya Ultra Steel are Varun Manoj kumar Jain and Varuna Varun Jain. The promoters' shareholdings before the IPO were 97.94%; however, after the IPO, shareholdings will decline to 68.76%.

Aditya Ultra Steel: Strength of Company

1.     Aditya Ultra Steel manufactures TMT bars from billets in a reheating furnace and a rolling mill.

2.     The company's return on capital employed is 18.75%. 

3.     Aditya Ultra Steel's net profit showed a sharp jump from Rs 277.66 lakhs to Rs 792.34 lakhs from the period between 31 March 2023 and 31 March 2024.

FAQs

1. What are the details of the Aditya Ultra Steel IPO?

Aditya Ultra Steel IPO is a book-built issue of Rs 45.88 crores. This upcoming IPO’s is a entirely a fresh issue of 74 lakh equity shares. The allotment for this new IPO is expected to be finalised on Thursday, Sep 12, 2024.

2. Who are the lead managers for the Aditya Ultra Steel IPO?

Swastika Investmart Limited is appointed as the book-running lead manager for the IPO.

3. What is the role of Cameo Corporate Services in this IPO?

Cameo Corporate Services Limited is the registrar for Aditya Ultra Steel Limited, handling the IPO's administrative aspects.

4. How can I apply for the Aditya Ultra Steel IPO?

The public subscription of this new IPO will open on September 9, 2024. Click here to initiate the application process. 

5. How will the net proceeds from the IPO be utilised?

The main objective of this IPO is to raise funds from the public, which will be used to meet the capital expenditure and day-to-day needs for the functioning of the business. Also, the funds will cover the issue expenses and fulfil the general corporate purposes.

6. How can I check the allotment status of the IPO?

Investors who applied can check the allotment status of the Aditya Ultra Steel Limited IPO by visiting here. For further updates follow Bigul. 

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