Abha Power and Steel Lists on NSE SME at ₹81.90, Surging Ahead with 9.2% Premium!Abha Power and Steel Lists on NSE SME at ₹81.90, Surging Ahead with 9.2% Premium!

Abha Power and Steel, a manufacturer of iron and steel products, had a modest debut on the NSE SME today. The shares were listed at ₹81.90 each, reflecting a 9.2% premium over the issue price, showcasing a steady start in the market.

Abha Power and Steel IPO saw a solid response on Day 3, with total subscriptions reaching 18.00 times. This strong demand highlights investor confidence in the company’s potential, particularly in the iron and steel manufacturing sector, ensuring a promising market entry.

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Abha Power and Steel Limited, located in Chhattisgarh, manufactures iron and steel castings ranging from 0.5 kg to 6 tonnes, serving clients like Indian Railways and NMDC. Their Bilaspur facility, with a 14,400 MTPA capacity, features advanced casting technology and a 2.99 MW solar plant meeting 35% energy needs, with plans for solar expansion.

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Abha Power and Steel Ltd aims to modernize its Bilaspur facility with ₹16.39 crores, allocate ₹3 crores for working capital, and utilize ₹7.45 crores for corporate purposes, including marketing and product development.

Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.