Aditya Ultra Steel IPO Listing: Shares of Kamdhenu rebar manufacturing company Aditya Ultra Steel made a strong entry on NSE's SME platform today. On the strength of retail investors, its IPO received more than 10 times the overall bid. Shares have been issued for Rs 62 under the IPO. Today it has entered NSE SME at Rs 69.90, that is, IPO investors got a listing gain (Aditya Ultra Steel Listing Gain) of 12.74 percent. However, the happiness of IPO investors faded in a short time when the shares fell. After falling, it came to the lower circuit of Rs 66.40 (Aditya Ultra Steel Share Price), that is, IPO investors are now in 7.10 percent profit.

Aditya Ultra Steel IPO got a good response.

Aditya Ultra Steel's Rs 45.88 crore IPO was open for subscription from 9-11 September. The IPO received a good response from investors on the strength of retail investors and was overall subscribed 10.58 times. In this, the portion reserved for qualified institutional buyers (QIB) was filled 1.21 times, the portion of non-institutional investors (NII) was filled 12.16 times and the portion of retail investors was filled 23.26 times. Under this IPO, 74 lakh new shares with a face value of Rs 10 have been issued. The company will use the money raised through these shares to meet capital expenditure, working capital requirements, general corporate purposes, and issue-related expenses.

About Aditya Ultra Steel

Aditya Ultra Steel, formed in the year 2011, manufactures TMT bars under the brand name Kamdhenu. Its manufacturing facility is in Wankaner, Gujarat and its annual production capacity is 1.08 lakh tonnes. According to the data till April 2024, it has 149 full-time employees including executives. Talking about the financial health of the company, it had a net profit of Rs 4.89 crore in the financial year 2022, which came down to Rs 2.78 crore in the next financial year 2023. However, in the very next financial year 2024, the net profit jumped sharply to Rs 7.92 crore. During this period, the company's revenue grew at a compound growth rate (CAGR) of more than 6 percent annually to Rs 588.56 5 crore.