Abha Power and Steel shares debuted on the NSE Emerge platform on December 4, listing at ₹81.90 per share—a 9.2% premium over the IPO price of ₹75.
Before the listing, the company’s shares had a grey market premium (GMP) of ₹15, signaling a 20% premium in the unofficial market.
The ₹38.54 crore IPO, which closed on November 29, ran from November 27-29 and included a fresh issue of 41.39 lakh shares worth ₹31.04 crore and an offer-for-sale of 10 lakh shares worth ₹7.5 crore, priced at ₹75 per share.
Based in Chhattisgarh, Abha Power and Steel plans to use the funds raised from the fresh issue to modernize and upgrade its Bilaspur manufacturing facilities, diversify its product range, meet working capital needs, and for general corporate purposes.
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