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Aditya Ultra Steel Makes a Strong entry with 12.74% Premium, shares lists at Rs 69.90

Aditya Ultra Steel's NSE SME debut impressed investors, with shares listing at Rs 69.90, a 12.74% premium over the IPO price. This indicates strong market confidence in the company.
Aditya Ultra Steel Makes a Strong entry with 12.74% Premium, shares lists at Rs 69.90

Aditya Ultra Steel made its debut on the NSE SME platform today, with shares opening at Rs 69.90. This represents a notable 12.74% premium over the initial public offering price. The strong listing suggests positive investor sentiment towards the steel company’s market entry.

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Aditya Ultra Steel Limited IPO concluded Day 3 with a subscription rate of 10.22 times the offered shares, showing robust interest from investors in the company’s market debut and a positive reception to its growth prospects and business model.

Aditya Ultra Steel Limited, with over 17 years of experience in the steel industry, manufactures and sells TMT bars under the Kamdhenu brand. Based in Wankaner, Rajkot, the company primarily serves the construction and infrastructure sectors in Gujarat. Their facility, with a capacity of 1,08,000 MT, includes testing labs, worker accommodations, and canteen services, ensuring efficient operations.

Aditya Ultra Steel Limited aims to fund capital expenditures and working capital needs with IPO proceeds, including a solar power project and general corporate purposes to fuel growth and sustainability.

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