Ahmedabad, September 07, 2024: A fresh issue of 74 lakh shares of Aditya Ultra Steel Limited, a manufacturer of rolled steel products such as TMT bars under the Kamdhenu brand, will open for subscription on September 09, 2024 and close on September 11, 2024. per share Rs. 10 equity shares with a price band of Rs. 59 to Rs. 62 has been fixed and the company is proposed to be listed on NSE Emerge. The minimum lot size will be 2000 shares.
Rajkot, Gujarat Based Aditya Ultra Steel IPO opens for subscription on September 9
Retail investors have a minimum of Rs. 124,000 will have to be bid. HNI for minimum 2 lots (4,000 shares) Rs. 248,000 to be bid. The book running lead manager of the issue is Swastika Investsmart Limited and Cameo Corporate Services Limited is the registrar of the issue. Sunflower Broking is the market maker of the Aditya Birla Ultra Steel IPO.
Rajkot district-based Aditya Ultra Steel Limited operates a state-of-the-art TMT manufacturing plant covering an area of 59,489 square meters. The company has a production capacity of 108000 MT with advanced technology, modern testing lab and excellent facilities for employees. The company manufactures TMT Bars under the Kamdhenu brand under a retail license agreement.
The company has earned a reputation as a reliable TMT Bars manufacturer over the course of 12 years. It caters to the construction and infrastructure sector by manufacturing high-quality TMT bars using advanced reheating furnaces and rolling mills and selling them on a B2B basis. Aditya Ultra Steel embraces innovative technologies and business models to fuel future growth. The company is a leader in the steel manufacturing sector with excellence, reliability and responsibility towards the community.
Aditya Ultra Steel Limited has a vision to evolve into an integrated steel manufacturing company with advanced technology, ethical business practices, skilled workforce.
The company's promoter, chairman and managing director CA Sunny Sunil Singhi said, “The company leverages its association with KMIL and using the popular Kamdhenu brand has achieved a leading position in the TMT Bars market. The company specializes in premium TMT bars for retail customers and has developed strong customer relationships through timely delivery, credit options and customized services. We have maintained profitability and reputation despite the challenges in this sector. We are prioritizing working capital to maximize our capacity and support future growth.
Over the past three decades, the company's total revenue, net profit, and fiscal respectively in fiscal year 2022 were Rs. 515.98 crore and Rs. 4.89 crore, in FY 2023 Rs. 530.49 crore and Rs. 2.78 crore and in FY 2024 Rs. 588.56 crore and Rs. 7.92 crore has been. The average EPS of the company in the last three financial years was Rs. 3.33 and the average RONW has been 16.92 percent.
