Abha Power and Steel IPO allotment today: Steps to check status online on NSE, Skyline Financial Services

Abha Power and Steel IPO share allotment is scheduled to be finalised on Monday, December 2. The NSE SME issue saw a strong demand from investors during the three-day subscription that ended on Friday, November 29.

Abha Power and Steel IPO was subscribed 17.55 times driven by high retail demand. The investors applied for more than 8.56 crore shares against 48.76 lakh shares on offer.

The retail portion of the issue was booked 24.93 times, while the Non-Institutional Investors (NIIs) booked their quota 9.16 times. The Qualified Institutional Buyers (QIBs) applied for 24.56 lakh shares.

Abha Power and Steel IPO was open for subscription between November 27 and November 29. After the successful subscription, the investors are now waiting for the company to finalise the IPO share allotment status.

The company will initiate refunds and transfers of shares to the demat accounts on December 3. The IPO listing has been scheduled for December 4. Shares of Abha Power and Steel will be listed on the NSE Emerge platform.

Skyline Financial Services Private Limited is the registrar for the issue, while Horizon Management Private Limited is its book running lead manager.

Investors can check the share allotment status on the websites of the NSE and the registrar.

• Go to the allotment status page of the NSE at: https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
• Log in with your username and password (First time users need to sign up)
• Select Abha Power and Steel from the dropdown menu
• Type in your PAN
• Enter your IPO application number
• Click submit to view allotment status

• Visit the IPO allotment status page on the official website of Skyline Financial Services at https://www.skylinerta.com/ipo.php
• Choose Abha Power and Steel Ltd. from the Check Application Status dropdown menu
• Choose from DPID/Client ID, Application Number or PAN
• Enter your details on the basis of your selection in the previous step
• Click Search to see allotment status

Abha Power and Steel IPO details

Abha Power and Steel IPO, worth ₹38.54 crore, was a combination of a fresh issue of 41.39 lakh shares, aggregating to ₹31.04 crore, and an offer-for-sale (OFS) of 10 lakh shares, amounting to ₹7.50 crore.

Abha Power and Steel IPO Price band was fixed at ₹75 per share, making it a fixed price issue.

Retail investors needed to buy at least a single lot of 1,600 shares, taking the minimum investment amount to ₹1,20,000 per application.

Abha Power and Steel IPO objective

Abha Power and Steel in its red herring prospectus said it will use the fresh proceeds of the IPO to modernise and upgrade its manufacturing facility so as to increase its product portfolio. The rest of the proceeds will be used for meeting working capital needs and general corporate purposes.

About Abha Power and Steel

Abha Power and Steel Limited, founded in 2004, is involved in casting and manufacturing iron and steel products. It has two manufacturing units in Chhattisgarh’s Bilaspur, covering an approximate area of 3,19,200 sqft. It produces parts for the Indian Railways as well as companies within the steel, power and cement industries.