Aditya Ultra Steel shares list at Rs 69.90 on NSE SME with 12.74% premium over IPO price.

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.
Three-day offer comprises of a fresh issue of equity shares that amount to Rs 45.88 crore. The price band for the IPO of Aditya Ultra Steel is kept at Rs 59-62 per share. Now retail investors would have to apply for a minimum lot of 2,000 shares, which amounts to investment worth Rs 1,24,000.
Aditya Ultra Steel Limited was incorporated in the year 2011 as a company engaged in manufacturing rolled steel products, including TMT bars, popularly known by the brand name "Kamdhenu". The Company primarily manufactures such TMT bars by processing billets through reheat furnace and rolling mill and mainly serves the construction and infrastructure sectors. The Company's manufacturing facility is located at Wankaner, Gujarat, has a capacity to produce 1,08,000 MT of TMT bars as on date. As on 30th April, 2024, the Company had 149 full-time staff including executives.