Support and Resistance Levels
Past performance
About Abha Power and Steel Ltd Abha Power and Steel Ltd, established in 2004 as a private limited company and restructured as a public limited entity in 2024, specializes in the production of iron and steel castings. The company caters to diverse industries with its customised offerings spanning grades such as mild steel, stainless steel, and high-alloy castings, ranging from 0.5 kg to 6 tonnes per unit. Certified by ISO 9001:2015, Abha Power and Steel also holds approvals for the supply of casting products to Indian Railways, National Mineral Development Corporation, and Integral Coach Factory. Exporting to six countries, including Germany, UAE, and Canada, it has established a notable presence in the global market.
The company’s manufacturing operations are centralized in Bilaspur, Chhattisgarh, across two facilities: an SG iron foundry and a steel foundry, with a collective installed capacity of 14,400 metric tonnes annually. Its journey began with a steel ingot and billets plant, later evolving into a state-of-the-art steel foundry to meet market demands. In 2022, the company enhanced its operations by commissioning a 2.99 MW solar power plant for captive use, underlining its commitment to sustainable manufacturing.
Strategically positioned in industries such as steel, power, and cement, the company also produces crucial components for railway applications like SGCI inserts and valve castings. This diversified portfolio, along with certifications and vendor approvals, strengthens its competitive edge in both domestic and international markets.
Abha Power and Steel is set to launch an Initial Public Offering (IPO) of 52,20,000 equity shares, comprising a fresh issue of 42,20,000 shares and an Offer for Sale of 10,00,000 shares. The planned IPO aims to fuel the company’s growth trajectory and broaden its market footprint. Traders and investors may find value in its established industry presence, robust certification portfolio, and focus on exports.