Rajkot Based Aditya Ultra Steel IPO opens for subscription on September 9
પ્રતિકાત્મક
Ahmedabad, Rajkot, Gujarat based Aditya Ultra Steel Limited, founded in 2011, manufactures rolled steel products, i.e. TMT bars, under the brand name “Kamdhenu”, proposes to open its public issue of entirely a fresh issue of 74 lakh shares of face value of Rs. 10 each for cash at price of ₹59 to ₹62 per Equity Share, available in a lot size of 2000, on September 9, 2024 on the NSE SME Exchange.
The minimum amount of investment required by retail investors is ₹124,000. The minimum lot size investment for HNI is 2 lots (4,000 shares) amounting to ₹248,000. The issue will close on September 11, 2024. Swastika Investmart Ltd is the book running lead manager of the Aditya Ultra Steel IPO, while Cameo Corporate Services Limited is the registrar for the issue. The market maker for Aditya Ultra Steel IPO is Sunflower Broking.
Aditya Ultra Steel Limited Located in Rajkot district, Aditya Ultra Steel operates a state-of-the-art TMT manufacturing plant spanning across 59,489 Sq. Mtr. Our facility, with a capacity of 108000 MT, features advanced technology, modern testing labs, and comprehensive amenities for our workforce. Company Manufactures TMT Bars under Kamdhenu Brand Under retail licence Agreement.
For more than 12 years, our company has been a trusted manufacturer of TMT bars. We serve the construction and infrastructure sectors by producing high-quality TMT bars from billets, using advanced reheating furnaces and rolling mills, and selling them on a B2B basis. Committed to pioneering industry advancements, Aditya Ultra Steel embraces emerging technologies and new business models to drive future growth. Our dedication to excellence, reliability, and community stewardship sets us apart as a leader in the steel manufacturing sector.
Aditya Ultra Steel Limited Vision To develop into an integrated steel manufacturing company with cutting-edge technology, time-tested ethical business practices, and competent human resources and company’s mission is to be the preferred and most trusted resource in shaping a stable structure.
CA Sunny Sunil Singhi , Promoter, Chairman and Managing Director says The company enjoys the benefit of its tie up with KMIL and use of its popular Kamdhenu Brand has helped it to create a niche place in TMT bars market with B2B model. Our company specializes in premium TMT bars for retail customers, emphasizing high customer retention through timely delivery, credit options, and customized services. Despite sector challenges, we’ve sustained profitability and reputation. To optimize our current 85%+ capacity utilization and support future growth, we prioritize augmenting our working capital. This strategic focus ensures adequate inventory levels and effective management of debtor-creditor cycles.
On the financial performance front, for the last three fiscals, the company has posted a total income/net profit of Rs. 515.98 cr. / Rs. 4.89 cr. (FY22), Rs. 530.49 cr. / Rs. 2.78 cr. (FY23), Rs. 588.56 cr. / Rs. 7.92 cr. (FY24). For the last three fiscals, it has reported an average EPS of Rs. 3.33, and an average RoNW of 16.92%. The issue is priced at a P/BV of 2.83 based on its NAV of Rs. 21.93 as of March 31, 2024, and at a P/BV of 1.82 based on its post-IPO NAV of Rs. 34.13 per share (at the upper cap).
