Abha Power and Steel IPO Allotment Status

Summary

Abha Power and Steel IPO has closed with a strong response from investors, achieving a notable final subscription of 18.00 times by 29th November 2024 at 5:28:02 PM (Day 3). The public issue demonstrated significant investor interest across categories, with the Retail Investors segment leading the momentum.

The Retail category showed robust enthusiasm with 24.93 times subscription, reflecting strong individual investor confidence in the company's growth prospects. The Non-Institutional Investors (NII) category also displayed solid interest with 10.07 times subscription. The Market Maker portion was fully subscribed. This fixed price SME issue has attracted a total of 41,831 applications, indicating substantial market interest in the company's business model in the iron and steel casting sector.

How to Check Abha Power and Steel IPO Allotment Status:

How do you Check Abha Power and Steel IPO Allotment Status on the Registrar's Site?

Step 1: Visit the web portal of Skyline Financial Services Private Ltd (https://www.skylinerta.com/ipo.php)

Step 2: From the selection menu, choose Abha Power and Steel IPO.

Step 3: Pick a mode from the following three: PAN ID, Demat Account number, or Application number

Step 4: Choose "Application Type," then "ASBA" or "non-ASBA."

Step 5: Enter the information relevant to the mode you have chosen.

Step 6: For security reasons, please fill out the captcha accurately.

Step 7: Click "Submit."

How to Check Abha Power and Steel IPO Allotment Status on NSE?

On the website of the National Stock Exchange (NSE), investors who placed a bid for the Abha Power and Steel IPO can monitor the allotment status:

Step 1: Click on this link: (https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp)

Step 2: Click on "Issue Type" and choose "Equity."

Step 3: Choose "Abha Power and Steel Limited" from the dropdown menu under "Issue Name."

Step 4: Enter your application number.

Step 5: Give the PAN ID.

Step 6: Select 'I am not a robot' and press the search button.

How to Check IPO Allotment Status in a Bank Account?

Log into your Internet Banking: Go to your bank's website or mobile app and log in.

Explore IPO Section: Locate the "IPO Services" or "Application Status" sections by going to the IPO Section. You can find this under the investing or services tab.

Offer Required Information: You might be asked to provide information like your PAN, application number, or other identifiers.

Verify Allotment Status: Once you submit your information, an IPO allotment status indicating the available allocation shares should appear.

Verify Status: To ensure accuracy, you can verify the status with the IPO Registrar or use other resources.

How to Check IPO Allotment Status in a Demat Account? 

Open Your Demat Account and Log in: To access your Demat account, use the mobile app or website of your Depository Participant (DP).

Find IPO Section: Look for the section titled "IPO" or "Portfolio." Search for any services or entries connected to the IPO.

Verify IPO Allotment Status: Look through the IPO section to see if the shares you were given are visible in your Demat account. This section often displays the status of your IPO application.

Verify with Registrar: If the IPO shares are inaccessible, visit the Registrar's website and enter your application data to verify allocation.

Contact DP service if Needed: If there are any discrepancies or problems, contact your DP's customer service.

Abha Power and Steel IPO Timeline:

Abha Power and Steel IPO Subscription Status

Abha Power and Steel IPO received 18.00 times subscription with 41,831 applications. By 29th November 2024 at 5:28:02 PM (Day 3), the detailed subscription status revealed a clear pattern of growing investor confidence:

Subscription Day 3 (as of 5:28:02 PM)

• Total Subscription: 18.00 times
• NII: 10.07 times (2,45,50,400 shares bid)
• Retail investors: 24.93 times (6,07,93,600 shares bid)
• Total Amount Subscribed: ₹658.50 crores
• Application Distribution:
• Retail: 37,996 applications
• NII: 3,832 applications
• Total: 41,831 applications

Subscription Day 2 (November 28, 2024)

• Total Subscription: 3.99 times
• NII: 1.22 times
• Retail investors: 6.76 times

Subscription Day 1 (November 27, 2024)

• Total Subscription: 1.31 times
• NII: 0.29 times
• Retail investors: 2.32 times

Abha Power and Steel IPO Details 

Abha Power and Steel's initial public offering (IPO) is a fixed price issue of ₹38.54 crores. This offering consists of a fresh issue of 41.39 lakh shares aggregating to ₹31.04 crores and an offer for sale of 10 lakh shares aggregating to ₹7.50 crores.

The bidding process commenced on 27th November 2024 and will conclude on 29th November 2024. The allotment results are anticipated to be finalised on 2nd December 2024. Furthermore, the shares of Abha Power and Steel are set to be listed on NSE SME, with a provisional listing date scheduled for 4th December 2024.

The issue price is fixed at ₹75 per share. Investors must apply for a minimum lot size of 1,600 shares, which requires a minimum investment of ₹120,000 for retail investors. For non-institutional investors (NII), the minimum investment consists of 2 lots (3,200 shares), totalling ₹240,000.

Horizon Management Private Limited serves as the book running lead manager for the IPO, while Skyline Financial Services Private Ltd is designated as the registrar for this offering. Giriraj Stock Broking is the market maker for this offering.