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News Details

( As on 21/11/2024 14:10)

Abha Power and Steel announces launch of initial public offering

Abha Power and Steel Ltd. has announced public offering of 5139200 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 65.00 per share. The gross proceeds of the issue are expected to be Rs 3,854.40 lakhs.

The company's initial public offer (IPO) will open on 27 November 2024 and is expected to close on 29 November 2024, subject to customary closing conditions.

The IPO includes a fresh Issue of 5139200 Equity Shares of the Company at an price of Rs 75.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 1600 shares with bids in multiples of 1600.

Abha Power and Steel Ltd. anticipates using the proceeds of the issue for .

Horizon Management Pvt. Ltd. as lead manager & Skyline Financial Services Pvt. Ltd. is the registrar, to the issue.