Aditya Ultra Steel IPO opens on 9th September 2024

Our Company is engaged in the business of manufacturing rolled steel products i.e., TMT bars under the Kamdhenu Brand catering mainly to the construction industry and for infrastructure development. Our Company manufactures TMT bars from billets through reheating furnace and rolling mill. 

 

Aditya Ultra Steel has announced its plan to go public with its Initial Public Offering (IPO) opening on September 9, 2024, aiming to raise of 45.88 Cr (at upper band) with shares to be listed on the NSE Emerge platform.

The issue is of 74,00,000 equity shares at a face value of ₹ 10 each.

Equity Share Allocation

Issue Size (Fresh Issue):             74,00,000 Shares

Market Maker Quota:                  3,70,000 Shares

QIB Quota (Including Anchor Portion):    35,12,000 Shares

Retail Quota:                 24,62,000 Shares

Non-Retail Quota:                       10,56,000 Shares

Price Band:                                   ₹59 to ₹ 62

Lot Size:                                       2000 Shares

IPO Size (at cap price):                ₹ 45.88 Crores

Pre-Issue No. of Shares:             1,74,35,568 shares

Post Issue No. of Shares:              2,48,35,568 Shares

Issue Open for Anchor:               September 06, 2024

Issue Opens on:                            September 09, 2024

Issue Closes on:                           September 11, 2024

Listing Date:                             September 16, 2024

 

The net proceeds from the Issue are set to be utilized primarily for Solar Power Plant Installation aggregating to ₹ 1535.00 Lakhs, Working Capital Requirement of the company aggregating to Rs.1500.00 Lakhs, General Corporate Purposes & Public issue expenses.

 

The Lead Manager to the Issue is Swastika Investmart Limited. The Registrar to the Issue is Cameo Corporate Services Limited.

 

 

Mr. Sunny Sunil Singhi said “We are delighted to announce our upcoming IPO on NSE Emerge Platform. The TMT bar market in India is expanding due to the construction and infrastructure sectors and hence the future prospects of our company are bright”.

 

About Aditya Ultra Steel:

 

We have a history of more than 12 (Twelve) years in the manufacturing of TMT bars industry. We design and manufacture TMT bars and sell them on a B2B Basis. Our customer base is mainly spread across the State of Gujarat. 

 

We have our manufacturing plant located in Survey No-48, Wankarner Boudry, Bhalgam, National Highway 8-A, Wankaner, Rajkot, Wankaner, Gujarat-363621, India which is equipped with testing laboratories, workers’ accommodation, etc. Company uses its own fleet of 23 trucks for transportation of Finished Goods. Total installed capacity of facility is 108000 MTPA with additional production capacity of 36000 MTPA on job work Basis. 

 

Our Company is promoted by a team of young and experienced entrepreneurs’ viz. Mar. Varun Manojkumar Jain, Mar. Sunny Sunil Singhi, and Mgrs. Varuna Jain have a combined experience of more than 17 years in the Steel Industry with proven track records.

 

Financials

 

For the years ended on March 31, 2024, March 31, 2023, and March 31, 2022, our Company has earned revenue from operations of ₹ 58,780.08 Lakhs, ₹ 53,044.78 Lakhs, ₹ 51,535.53 Lakhs respectively. Our Earnings Before Interest, Taxes, Depreciation, and Amortization (“EBITDA”) for the year ended on March 31, 2024, March 31, 2023, and March 31, 2022, were ₹ 1,801.39 Lakhs, ₹986.79 Lakhs, ₹ 1,091.53 Lakhs respectively.

 

Disclaimer: 

Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.