IPO
Aditya Ultra Steel IPO oversubscribed 10 times
The initial public offering of Aditya Ultra Steel Ltd was subscribed over 10 times. The offering entailed a fresh issue of equity shares worth INR 45.88 crore fixed at a price band of INR 59-62 apiece.The IPO proceeds will be used to upgrade and expand manufacturing facilities. Funds will also be allocated towards working capital requirements.Established in 2011, Aditya Ultra Steel Ltd. specialises in manufacturing rolled steel products, including TMT bars, marketed under the "Kamdhenu" brand. The company operates a production facility in Wankaner, Gujarat, with an annual capacity of 1,08,000 MT for TMT bars, serving the construction and infrastructure sectors.Swastika Investmart Ltd. is the book-running lead manager of the issue.
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