Aditya Ultra Steel is scheduled to hit the market on September 9, 2024 and close on September 11, 2024. Aditya Ultra Steel plans to raise around ₹45.88 Cr through an IPO with a sale of up to 7,400,000 equity shares of ₹10 each.
Aditya Ultra Steel Limited was established in 2011 and produces rolled steel products, specifically TMT bars, under the brand name “Kamdhenu.” The company makes TMT bars from billets using a reheating furnace and a rolling mill. Their main customers are in the construction industry and infrastructure development. The manufacturing facility is located in Wankaner, Gujarat, and it has the capacity to produce 1,08,000 metric tons of TMT bars.
As of April 30, 2024, Aditya Ultra Steel Limited has a total of 149 full-time employees, which includes executives. The company focuses on providing high-quality steel products to meet the growing demands of the construction sector.
Aditya Ultra Steel IPO Details
Aditya Ultra Steel IPO opens on September 9, 2024, and closes on September 11, 2024. The Listing date for Aditya Ultra Steel IPO is on September 16, 2024. The price band for IPO is ₹59 to ₹62 per share and lot size of 2000 Shares.
| IPO Date | September 9, 2024 to September 11, 2024 |
| Listing Date | September 16, 2024 |
| Price | ₹59 to ₹62 per share |
| Lot Size | 2000 Shares |
| Issue Size | ₹45.88 Cr |
| Face Value | ₹10 per share |
Aditya Ultra Steel IPO Tentative Timetable
Aditya Ultra Steel opening date is September 9, 2024 and close date is September 11, 2024. The IPO allotment date is September 12, 2024. Therefund initiation of IPO is on September 13, 2024. The credit of shares in demat account is on September 13, 2024. The listing date is on September 16, 2024.
| Event | Date |
|---|---|
| IPO Opening | September 9, 2024 |
| IPO Closing | September 11, 2024 |
| IPO Allotment Date | September 12, 2024 |
| Refund Initiation | September 13, 2024 |
| Shares Credit to Demat | September 13, 2024 |
| Lisiting Date | September 16, 2024 |
Aditya Ultra Steel IPO Lot Size
Lot Size of this IPO is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or ₹124,000).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 2000 | ₹124,000 |
| Retail(Maximum) | 1 | 2000 | ₹124,000 |
| S-HNI (Minimum) | 2 | 4000 | ₹248,000 |
Aditya Ultra Steel IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding |
Aditya Ultra Steel IPO Review
The company is launching its first initial public offering (IPO) by offering 7,400,000 equity shares at a price of Rs. 10 each. The goal is to raise Rs. 45.88 crore at the highest price.
On the financial performance front, for the last three fiscals, the company has posted a total income/net profit of Rs. 515.98 cr. / Rs. 4.89 cr. (FY22), Rs. 530.49 cr. / Rs. 2.78 cr. (FY23), Rs. 588.56 cr. / Rs. 7.92 cr. (FY24).
According to the management, in FY23, higher coal prices and volatile commodity market coupled with reduced import duty on steel attributed to lower earnings. However, since the situation is reversed and the coal prices and steel prices are back to normal, it earned higher net with contribution from the added capacities. The company will reduce its electricity cost with the proposed solar plant investment and improve its performance going forward as indicated by FY24 results.
For the last three fiscals, it has reported an average EPS of Rs. 3.33, and an average RoNW of 16.92%. The issue is priced at a P/BV of 2.83 based on its NAV of Rs. 21.93 as of March 31, 2024, and at a P/BV of 1.82 based on its post-IPO NAV of Rs. 34.13 per share (at the upper cap).
If we attribute FY24 super earnings to its post-IPO fully diluted paid-up capital, then the asking price is at a P/E of 19.44.
For the reported periods, the company has posted PAT margins of 0.95% (FY22), 0.52% (FY23), 1.35% (FY24), and RoCE margins of 14.33%, 10.76%, 18.75% respectively for the referred periods.
This is the 12th mandate from Swastika Investmart in the last three financial years, including the current one. Out of the last 11 listings, 1 opened at a discount, 1 at the same price, and the rest opened with premiums between 4.17% and 110.64% on the listing day.
The company has benefited from its partnership with KMIL and the popular Kamdhenu brand, which has helped it establish a strong position in the TMT bars market using a B2B model. However, it faced challenges in FY23 due to high coal prices and low steel prices. Now that market conditions have improved and the company has increased its production capacity, it has seen better profit margins for FY24. Based on the earnings from the last fiscal year, the stock seems to be fully priced. Investors may consider investing for the medium to long term.
Aditya Ultra Steel IPO Subscription Status (Bidding Details)
Table not foundAditya Ultra Steel IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Aditya Ultra Steel IPO FAQs
What is Aditya Ultra Steel IPO?
Aditya Ultra Steel is issuing 7,400,000 equity shares with a face value of ₹10 each, totaling up to ₹45.88 Cr. The shares are being offered at a price of ₹59 to ₹62 each, with a minimum order quantity of 2000 shares.
Cameo Corporate Services Limited is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Aditya Ultra Steel IPO will open?
Aditya Ultra Steel will open on September 9, 2024 for QIB, NII, and Retail Investors.
When Aditya Ultra Steel IPO will end?
Aditya Ultra Steel will end on September 11, 2024.
What is Aditya Ultra Steel IPO Size?
Aditya Ultra Steel IPO size is ₹45.88 Cr.
What is Aditya Ultra Steel IPO Price Band?
Aditya Ultra Steel price band is ₹59 to ₹62 per share.
What is Aditya Ultra Steel IPO Allotment Date?
Aditya Ultra Steel allotment date is September 12, 2024.
What is Aditya Ultra Steel IPO Listing Date?
Aditya Ultra Steel listing date is September 16, 2024. The IPO is to be listed on BSE and NSE.
How to Aditya Ultra Steel IPO through Zerodha?
To apply for the IPO “Aditya Ultra Steel” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Aditya Ultra Steel IPO through Upstox?
To apply for the IPO “Aditya Ultra Steel” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Aditya Ultra Steel IPO Allotment Status?
For Aditya Ultra Steel IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Aditya Ultra Steel IPO GMP?
You can check out here: Aditya Ultra Steel IPO GMP. Check all IPO GMP here.