Aditya Ultra Steel shares listed at Rs 69.90 per share on the NSE SME today with a premium of over 12.74 percent. The issue was subscribed nearly 10x on the last day of bidding on September 11.
The three-day offer included a fresh issue of equity shares worth Rs 45.88 crore. The price band for the Aditya Ultra Steel IPO was set at Rs 59-62 per share. Retail investors were required to apply for a minimum of 2,000 shares, amounting to an investment of Rs 1,24,000.
Aditya Ultra Steel Limited, founded in 2011, manufactures rolled steel products such as TMT bars under the "Kamdhenu" brand. The company uses billets in a reheating furnace and rolling mill to produce these bars, catering mainly to the construction and infrastructure sectors. Their manufacturing plant is situated in Wankaner, Gujarat, with a production capacity of 1,08,000 MT of TMT bars. As of April 30, 2024, the company employed 149 full-time staff, including executives.
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