The offer had a great response, with 18 subscriptions made before it concluded on November 29. It is anticipated that the allocation for the Abha Power and Steel IPO would be finalized today. As attention turns to listing, follow these procedures to check the progress of your allocation online and GMP.Wednesday, December 4, 2024 was set as the tentative date for Abha Power and Steel’s shares to list on the NSE SME.
Abha Power and Steel GMP
At the moment, the Abha Power and Steel IPO’s Grey Market Premium (GMP) is ₹0, suggesting that the grey market is neutral. This indicates that no short-term listing advantages are anticipated based on the IPO’s financial performance and value. Because grey market trading is speculative and uncontrolled, it cannot accurately predict how the shares will perform in the market after listing.
Abha Power and Steel IPO Details
The Abha Power and Steel initial public offering (IPO) has a fixed price of Rs 38.54 crores. The offering consists of an offer to sell 10 lakh shares for a total of Rs 7.50 crores and a new issue of 41.39 lakh shares worth Rs 31.04 crores. The IPO auction for Abha Power and Steel began on November 27, 2024, and finished on November 29, 2024. On Monday, December 2, 2024, the allocation for the Abha Power and Steel IPO was finalized. The proposed listing date for Abha Power and Steel’s initial public offering (IPO) on the NSE SME is set for Wednesday, December 4, 2024.
The IPO price of Abha Power and Steel is ₹75 per share. 1600 shares is the minimum lot size required for an application. Retail investors are required to invest a minimum of ₹120,000. HNI requires a minimum lot size investment of two lots (3,200 shares), or ₹240,000.
About Abha Power and Steel
Abha Power and Steel was founded in 2004 and is a company that works in the iron and steel foundry industry. It specializes in casting and producing bespoke products made from different grades of iron and steel. Stainless steel, manganese steel, mild steel, spheroidal graphite cast iron, and low- and high-alloy castings, including high-chromium and high-nickel varieties, are among its product offerings.
