Abha Power and Steel IPO Listing: Aabha Power & Steel shares were listed on the NSE Emerge platform on December 4 at a premium of around 9 per cent. The shares debuted at ₹81.90 per share, reflecting a 9.20 per cent premium over the issue price of ₹75.
Before listing, Aabha Power & Steel shares were trading at a GMP of ₹15 in the unofficial market, indicating a 20 per cent premium. However, the shares were listed at a lower price than the expected GMP. After opening with a 9 per cent premium, the share price has dropped by 5 per cent. As of 10:45 AM, the shares are trading at ₹77.80, down ₹4.10 or 5.01 per cent from the listing price.
How Much Was Aabha Power’s IPO Subscribed?
Aabha Power and Steel’s IPO was subscribed 18 times overall. The retail category saw a subscription of 24.93 times, while the category for other applicants was subscribed 10.07 times.
What Was the Price Band?
Aabha Power and Steel’s IPO closed on November 29, with a total size of ₹38.54 crore. The IPO, which opened between November 27-29, issued 41.39 lakh shares worth ₹31.04 crore, and 10 lakh shares worth ₹7.5 crore were sold through an offer for sale at ₹75 per share.
How Will the Company Use IPO Funds?
The iron and steel products manufacturer based in Chhattisgarh plans to use the IPO funds for expanding its product portfolio, modernizing and upgrading manufacturing facilities in Bilaspur, working capital requirements, and general corporate purposes.
How to Apply for Aabha Power’s IPO Online
- Open a Demat Account: Ensure you have an active Demat and trading account.
- Check IPO Availability: Log in to your account and find the Aabha Power IPO under active IPOs.
- Review IPO Details: Confirm the price band, lot size, and other key information.
- Place Your Bid: Select the number of lots and bid price within the price band.
- ASBA Process: Use ASBA to block the IPO amount in your bank account.
- Submit Application: Confirm and submit your IPO application.
- Check Allotment: Track your application status after the IPO closes.
- Monitor Listing: After allotment, watch the listing and track share performance.