Aditya Ultra Steel Ltd IPO Timeline

Aditya Ultra Steel Ltd IPO opens on 09-Sep-2024, and closes on 11-Sep-2024. The Aditya Ultra Steel Ltd IPO bid date is from 09-Sep-2024 to 11-Sep-2024. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Aditya Ultra Steel Ltd IPO Opening Date 09-Sep-2024
Aditya Ultra Steel Ltd IPO Closing Date 11-Sep-2024
Basis of Allotment 12-Sep-2024
Initiation of Refunds 13-Sep-2024
Credit of Shares to Demat 13-Sep-2024
Aditya Ultra Steel Ltd IPO Listing Date 16-Sep-2024

Aditya Ultra Steel Ltd IPO Lot Size

Aditya Ultra Steel Ltd IPO lot size is 2000 shares. A retail-individual investor can apply for up to 1 lots (2000 shares or 124000).

Application Lots Shares Amount
Minimum 1 2000 ₹124000
Maximum 1 2000 ₹124000

Aditya Ultra Steel Ltd IPO Details

Aditya Ultra Steel Ltd IPO Date 09-Sep-2024 to 11-Sep-2024
Aditya Ultra Steel Ltd IPO Face Value Shares of ₹10 per share
Aditya Ultra Steel Ltd IPO Price ₹59 to ₹62 per share
Aditya Ultra Steel Ltd IPO Lot Size 2000
Issue Size Shares of ₹10 (aggregating up to ₹45.88 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹45.88 Cr)
Offer for Sale -
Issue Type Book Building - SME
Listing At NSE - SME
QIB Shares Offered -
Retail Shares Offered -
NII (HNI) Shares Offered -
Company Promoters Sunny Sunil Singhi, Varun Manojkumar Jain, Varun Jain.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Capital Expenditure
  • 2 To meet working capital requirements
  • 3 General corporate purposes

Company Financials

Aditya Ultra Steel Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2024 147.52 588.56 7.92
03-2023 97.35 530.49 2.78
03-2022 91.57 515.98 4.89
Amount in ₹ Crore
  • Qualified and experienced management team.
  • Skilled and dedicated manpower.
  • Strategically located Manufacturing Plant.
  • Existing customer relationship.
  • Cordial relationship between management and labour.
  • Flit of Company Owned Vehicle.
  • Business of the Company is dependent on Kamdhenu Brand.
  • The company has given corporate guarantee in relation to certain debt facilities to its group company which if claimed, may requires the company to pay the guaranteed amount.
  • Almost entire operations of the Company is limited in the state of Gujarat. Any adverse development affecting its operations in this region could have an adverse impact on its business, financial condition and results of operations.
  • Its Managing Director Mr. Sunny Sunil Singhi has limited experience in the steel industry in which the Company is operating.
  • The Company is dependent on few numbers of customers for sales. Loss of any of this large customer may affect its revenues and profitability.
  • The Company is dependent on a few suppliers for purchase of product. Loss of any of these large suppliers may affect its business operations.
  • Its business is dependent on the company manufacturing facility. The loss of or shutdown of operations of its manufacturing facility may have a material adverse effect on the company's business, financial condition and results of operations.
  • Steel Manufacturing Plants involve hazardous processes that can cause personal injury and loss of life, severe damage to and destruction of property and equipment, which could result in incurring material liabilities, loss of revenues and increased expenses.
  • The company will continue to be controlled by its Promoters after the completion of the Issue.
  • The Company has not entered into any agreements/ contracts for the supply of raw material and other utilities. Risks related to shortfall or non- availability of raw material and other utilities may adversely affect its manufacturing processes and have an adverse impact on its operations and financial condition.
  • The Company is dependent on third party manufacturer for manufacturing of TMT Bars.
  • The steel industry is highly cyclical and adverse variation in steel prices may have an adverse effect on the Company's results of operations and financial condition.
  • The Company, Promoter, Directors and Group Company are involved in certain legal proceedings. Any adverse decision in such proceedings may render it/them liable to liabilities/penalties and may adversely affect its business and results of operations.
  • The company has experienced significant working capital requirements in past and may continue to experience in future also. If the company experience insufficient cash flows from its operations or are unable to borrow to meet the company working capital requirements, it may materially and adversely affect its business, cash flows and results of operations.
  • There are certain discrepancies/errors/non-filings which have occurred in some of its corporate secretarial records relating to forms filed with the RoC and other provisions of Companies Act, 2013. Any penalty or action taken by any regulatory authorities in future, for non- compliance with provisions of corporate or any other law could impact the financial position of the Company to that extent.
  • The company does not have access to records and data pertaining to certain historical legal and secretarial information in relation to certain disclosures.
  • The company has offered Equity Shares during the last one year at a price below the Issue Price.
  • One of its Group Company VMS Industries Limited was subject to the penalties imposed by Stock Exchanges.
  • Its insurance coverage may not adequately protect the company against certain operating risks and this may have an adverse effect on the results of its business.
  • One of its Group Company and also Promoter Group Entity is engaged in similar line of business. Any conflict of interest may occur between its group company or the company promoter group entities and its may adversely affect the company's business, prospects, results of operations and financial condition.
  • The company is dependent on third party transportation providers for procuring raw material from its suppliers and delivery of trading goods and materials to its clients. Any failures on the part of such service providers to meet their obligations could have a material adverse effect on its business, financial condition and results of operation.
  • Failures to manage its appropriate level of inventory could have an adverse effect on its net sales, profitability, cash flow and liquidity.
  • The company could be exposed to risks arising from misconduct, fraud and trading errors by its employees and Business Associates.
  • A shortage or non-availability of electricity or water may adversely affect its manufacturing operations and have an adverse effect on the company's business, results of operations and financial condition.
  • Its inability to effectively manage the company's growth or to successfully implement its business plan and growth strategy could have an adverse effect on its business, results of operations and financial condition.
  • Dependence on debt and outflow of finance cost leads to outflow of cash flows and reduce overall profitability.
  • Its manufacturing activities are dependent upon availability of skilled and unskilled labour.
  • The company's success depends on its ability to attract and retain its key management personnel. If the company is unable to do so, it would adversely affect its business and results of operations.
  • In addition to regular remuneration, other benefits and expense reimbursement its Promoters, Directors, KMPs and SMPs hold a vested interest in the Company; to the extent of their shareholding and associated dividend entitlements. They also have a stake in transactions involving the Company, whether with themselves individually or with its group companies/entities. The Company in future may enter in related party transactions subject to necessary compliances.
  • There are certain discrepancies and non- compliances noticed in some of its corporate records relating to forms filed with taxation authorities and other public authorities.
  • Strikes, work stoppages or increased wage demands by its employees or any other kind of disputes with the company employees/workmen in future could adversely affect its business and results of operations.
  • Its business requires the company to obtain and renew certain registrations, licenses and permits from government and regulatory authorities and the failure to obtain and renew them in a timely manner may adversely affect its business operations.
  • Compliance with and changes in safety, health and environmental laws and various labour, workplace and related laws and regulations impose additional costs and may increase its compliance costs and a such adversely affect the company's results of operations and its financial condition.
  • The company has experienced negative cash flows from operations in the recent past, and its may have negative cash flows in the future.
  • The company is subject to the restrictive covenants of banks in respect of the Loan/Credit Limit and other banking facilities availed from them. Further as on the date of this Draft Red Herring Prospectus the Company has not received "No objection" certificate from its lenders to undertake this issue. Non receipt of such "No- Objection" certificate could lead to non- compliance of the terms of loan agreements entered into by the Company with said lenders.
  • If the company is unable to service its debt obligations in a timely manner or to comply with various financial and other covenants and other terms and conditions of its financing agreements, it may adversely affect the company's business, prospects, results of operations and financial condition.
  • Its lenders have charge over the company movable and immovable properties in respect of finance availed by it and the company group company, promoters, Directors and member of promoters group have provided their personal guarantee for such debt facility availed by it.
  • Its contingent liabilities as stated in the company Restated Financial Statements could affect its financial condition.
  • Changes in technology may render its current technologies obsolete or require the company to make substantial investments.
  • The average cost of acquisition of Equity shares by its Promoters is lower than the Issue price.
  • Fraud, theft, employee negligence or similar incidents may adversely affect the results of operations and financial condition.
  • Its ability to pay any dividends will depends upon future earnings, financial condition, cash flows, working capital requirements and capital expenditures.
  • There is no monitoring agency appointed by the Company to monitor the utilization of the Issue proceeds.
  • Any variation in the utilization of the Net Proceeds as disclosed in this Draft Red Herring Prospectus shall be subject to certain compliance requirements, including prior approval of the shareholders of the Company.
  • Any future issuance of its Equity Shares may dilute prospective investors' shareholding, and sales of its Equity Shares by the company major shareholders may adversely affect the trading price of its Equity Shares.
  • The Issue price of its Equity Shares may not be indicative of the market price of the company Equity Shares after the Issue and the market price of its Equity Shares may decline below the Issue Price and you may not be able to sell your Equity Shares at or above the Issue Price.
  • The Objects of the Issue for which funds are being raised, are based on its management estimates and the same have not been appraised by any bank or financial institution or any independent agency. The deployment of funds in the project is entirely at its discretion, based on the parameters as mentioned in the chapter titled as "Objects of the Issue".
  • In the event there is any delay in the completion of the Issue, or delay in schedule of implementation, there would be a corresponding delay in the completion of the objects of this Issue which would in turn affect its revenues and results of operations.
  • The company has not identified any alternate source of raising the funds required for the object of the Issue and the deployment of funds is entirely at its discretion and as per the details mentioned in the section titled "Objects of the Issue".
  • The requirements of being a public listed company may strain its resources and impose additional requirements.
  • Certain data mentioned in this Red Herring Prospectus has not been independently verified.
  • Premium quality TMT Rebar player with focus on Retail Customers.
  • Augment its working capital base in order to better utilize its installed capacity.
  • Focus on consistently meeting quality standards.
  • Optimal Utilization of Resources and Incentives.

Aditya Ultra Steel Ltd IPO Promoter Holding

Pre Issue Share Holding 97.94%
Post Issue Share Holding 68.77%

Aditya Ultra Steel Ltd IPO Subscription Status (Bidding Detail)

The Aditya Ultra Steel Ltd IPO is subscribed 10.2238 times on Sep 11, 2024 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) - - - - 10.2238

Aditya Ultra Steel Ltd IPO Prospectus

Aditya Ultra Steel Ltd IPO Listing Date

Listing Date 16 Sep 24
BSE Script 73685
NSE Symbol AUSL
Listing In NSE - SME
ISIN INE01YQ01013
IPO Price ₹62
Face Value ₹10

Aditya Ultra Steel Ltd IPO Registrar

Cameo Corporate Services Ltd

Phone: +91-044 4002 0700/ 2846 0390
Email: investor@cameoindia.com
Website: www.cameoindia.com

Aditya Ultra Steel Ltd IPO Lead Manager(s)

  1. Swastika Investment Ltd

FAQs on Aditya Ultra Steel Ltd IPO

Aditya Ultra Steel Ltd IPO, which opens for subscription from 09-Sep-2024 to 11-Sep-2024 has an issue size of ₹45.88 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Aditya Ultra Steel Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Aditya Ultra Steel Ltd IPO Opens for subscription from 09-Sep-2024 to 11-Sep-2024.

The lot size of Aditya Ultra Steel Ltd is 2000 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹124000 and ₹124000 respectively.

Allotment date for Aditya Ultra Steel Ltd is 12-Sep-2024 and refund of application amount (in case allotment is not received) will begin from 13-Sep-2024. If your allotment goes through, then shares will be credited in your Demat account by 13-Sep-2024.

The registrar for Aditya Ultra Steel Ltd IPO is Cameo Corporate Services Ltd. You can check your IPO allotment status on the registrar's website.

The shares of Aditya Ultra Steel Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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