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Abha Power and Steel IPO GMP: Abha Power and Steel's SME IPO opened for subscription today. This IPO will close on November 29. Its listing may happen on December 4. Its IPO is getting a good response. It has been subscribed 97 percent on the first day itself till around 4 pm. The company aims to raise Rs 38.5 crore through SME IPO and list the shares on the NSE SME platform.
Abha Power and Steel IPO GMP
The share price of Aabha Power & Steel in the IPO is Rs 75. Whereas according to IPO Watch, its grey-market premium (GMP) is Rs 25. That is, it can give a 33 percent return on listing. However, GMP keeps fluctuating till listing.
Abha Power and Steel Lot Size
41.39 lakh new shares will be sold in the IPO, while the sale of 10 lakh shares includes Offer-for-Sale (OFS). At the same time, the lot size in its IPO is 1600 shares. That means it is necessary to invest in at least this many shares.
What is the business of the company?
Aabha Power & Steel is engaged in the business of iron & steel foundries in the state of Chhattisgarh, and particularly in the business of manufacturing castings and customized products in all grades of iron & steel.
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