Adishakti Loha IPO (ASL IPO) – Review, Allotment, Subscription, GMP & DRHP
Last Updated Date: Sep 02, 2023Let’s have a detailed review of the company and analytics of the Adishakti Loha and Ispat IPO release date, IPO offer price, subscription, Adishakti Loha IPO (ASL IPO) allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Cash Price | Rs 11 |
| Listing At | BSE SME |
| Min. Order Quantity | 10000 Shares |
| Listing Date | NA |
| Net Issue | Rs 189.20 Lakh |
| IPO Size | Rs 200.20 Lakh |
| Tick Size | NA |
The Adishakti Loha and Ispat IPO are listed at Re.1 premium, check out the live share price by clicking on the below link.
| Adishakti Loha Share Price – Live Performance |
Adishakti Loha IPO – Summary
Their Company is engaged in the business of trading in metals with its core focus on trading in Iron and Steel. Initially, their Company was incorporated with the object of managing, undertaking, carrying on, and engaging in the business of Real Estate Development, Land Development, and associated activities.
The Company altered the main object clause of its Memorandum of Association vides shareholders resolution dated June 10, 2019, to enable it to pursue the business of trading in metals.
The Promoter of this company is MR. PAWAN KUMAR MITTAL. The lead manager to the issue is Turnaround Corporate Advisors Private Limited, and the Registrar to this issue is Bigshare Services Private Limited.
Adishakti Loha IPO (ASL IPO) Date
The opening and the closing date of the IPO of Adishakti Loha Limited are Sep 30, 2021, and Oct 5, 2021, respectively.
Adishakti Loha IPO (ASL IPO) Subscription
| Day / Date | NII | RII | Total Subscription |
| 1st Day – 30 Sep | 0.12x | 0.23x | 0.17x |
| 2nd Day – 1 Oct | 0.12x | 0.83x | 0.47x |
| 3rd Day – 4 Oct | 0.35x | 1.70x | 1.02x |
| 4th Day – 5 Oct |
0.81x | 2.87x | 1.84x |
| Shares Offered or Net Issue | 860,000 | 860,000 | 1,720,000 |
The shares subscribed by the public will be updated here.
Adishakti Loha IPO (ASL IPO) Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Adishakti Loha IPO (ASL IPO) Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | – |
| Refunds Initiation | – |
| Credit of Shares to Demat Account | – |
| Share Listing Date | – |
Adishakti Loha IPO Cash Price
The face value of each share is Rs.10, but the price band of the IPO is Rs.11.
Adishakti Loha IPO Equity Size
This Initial Public Issue of 17,391,303 Equity Shares of Rs.10 each for cash at a price of Rs.11 per equity share aggregating to Rs.200.20 Lakh.
Adishakti Loha IPO Share Offering
Net Issue: The Fresh Issue of 17,20,000 Equity Shares by their Company, aggregating to Rs.189.20 Lakh,
Issue Size: 18,20,000 Equity Shares of Rs.10 each, aggregating to Rs.200.20 Lakh.
Adishakti Loha IPO – Live Performance
The listing date of this IPO is NA. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Adishakti Loha Share Price |
Adishakti Loha IPO Grey Market Premium
The Adishakti Loha IPO (ASL IPO) Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
Adishakti Loha IPO – Company Overview
Their Company is engaged in the business of trading in metals with its core focus on trading in Iron and Steel. The Company operates from its registered office located at Plot 3, Shop 325, DDA Community Centre, Aggarwal Plaza, Sector-14, Rohini, New Delhi 110085. Their Company is Promoted by Mr. Pawan Kumar Mittal, who owns and controls their Company along with his family members.
Since their Company is a Trading Company, they don’t own any Plant and Machinery. Further, no part of the proceeds from the issue would be utilized for purchase of or for procuring Plant and Machinery.
Adishakti Loha IPO – Nature of Products
The Company is currently primarily engaged in trading metals with its core focus being trading in Iron and Steel.
The company operates as an intermediary to its customers. They are currently serving the corporate and other clients. They work on a B2B model and the procurement of goods is carried out by them on an order basis, owing to which they do not maintain any inventory as the goods are supplied directly from supplier to their customer.
Adishakti Loha and Ispat IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of a business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & lakhs) | |||
| 31-Mar-20 | Mar-19 | 31-Mar-18 | |
| Total Assets | 9,35,68,204 | 4,56,502 | 2,12,311 |
| Total Revenue | 10,94,85,543 | 2,70,000 | – |
| Total Expense | 10,95,79,807 | 10,95,79,807 | 9,714 |
| Profit After Tax | (2,14,021) | 1,90,937 | 41,047 |
Earnings per Equity Share (in lakhs)
| 31-Mar-20 | Mar-19 | 31-Mar-18 |
|
| Basic & Diluted | (0.46) | 19.09 | 4.10 |
Based on their restated standalone financial statements, their total revenue from operations for FY 2020, FY 2019, and FY 2018 was Rs. 1,094.85 Lakh, Rs. 2.70 Lakh and Nil respectively and their net profit/(loss) for FY 2020, FY 2019, and FY 2018, was Rs. (2.14) Lakh, Rs. 1.91 Lakh, and Rs. 0.41 Lakh respectively.
Adishakti Loha IPO (ASL IPO) – Promoters
The Promoter of this company is:
- MR. PAWAN KUMAR MITTAL
List of Related Parties (Key Managerial Personnel)
- Mr. Gyanendra Kumar Pathak, Chief Financial Officer, Chief Executive Officer
- Mr. Bhuwan Singh Taragi, Company Secretary and Compliance Officer
Competitive Strengths of Adishakti Loha Limited
- Their Promoter’s network in the trading community
- The experienced and qualified management team
- Existing client and supplier relationships
Adishakti Loha IPO (ASL IPO) Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 18,20,000 Equity Shares aggregating up to Rs.200.20 Lakhs. |
| of which: | |
| Reserved for the Market Makers | Up to 1,00,000 Equity Shares aggregating up to Rs.11.00 Lakh |
| Net Issue to the Public | Up to 17,20,000 Equity Shares aggregating up to Rs. 189.20 Lakh. |
| Of which: | |
| For Retail Individual Investors | Minimum of 8,60,000 Equity Shares aggregating Rs. 94.60 Lakh* |
| Individual applicants other than retail individual investors | 8,60,000 Equity Shares aggregating Rs. 94.60 Lakh** |
| Equity Shares outstanding prior to the Issue | 27,38,000 Equity Shares |
| Equity Shares outstanding after the Issue | 45,58,000 Equity Shares |
Adishakti Loha IPO Issue Object
The objects of the present issue of Equity Shares are:
a. To meet the incremental working capital requirements; and
b. To meet General Corporate Purpose
Business strategies of Adishakti Loha Limited
- Increase geographical presence
- Diversify their Product Portfolio
- Better working capital management
- Leveraging their Market skills and Relationships
Adishakti Loha IPO (ASL IPO) – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Experienced Promoters
- Existing Supplier Relationship
- Existing Client Base
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-20 | (0.46) | (0.71%) | – |
| 31-Mar-19 | 19.09 | 127.51% | – |
| 31-Mar-18 | 4.10 | (99.66%) | 10.94 |
- Price to Earnings (P/E) ratio in relation to Issue Price of Rs.11:
| Particulars | P/E ratio |
| Highest | 86.36 |
| Average | 26.77 |
| Lowest | 5.24 |
Adishakti Loha IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Book Value Per Share (Rs.) | |
| Adishakti Loha and Ispat Limited* | 10 | (23.91) | (0.46) | (0.71%) | 10.94 |
| Listed Peers | |||||
| Adhunik Industries Limited | 10 | 86.36 | 0.22 | 0.88% | 24.48 |
| Kanishk Steel Industries Limited | 10 | 9.65 | 0.71 | 3.80% | 18.77 |
| Rathi Bars Limited | 10 | 5.81 | 1.67 | 3.30% | 50.44 |
| Sharda Ispat Limited | 10 | 5.24 | 7.07 | 15.90% | 44.50 |
Adishakti Loha IPO Lead Managers
| Lead Manager |
| Turnaround Corporate Advisors Private Limited 714, Vishwadeep Building, Plot No. 4, District Centre, Janakpuri, New Delhi- 110058 Tel: +91-11-45510390 E-mail: Info@tcagroup.in Investor Grievance Email: complaints@tcagroup.in Website: www.tcagroup.in Contact Person: Mr. Heemadri Mukerjea SEBI Registration No.: MB/INM000012290 |
Adishakti Loha IPO Registrar to offer
| Registrar to the Offer |
| Bigshare Services Private Limited 1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road, Marol, Andheri (East), Mumbai – 400059 Tel : +91-22-62638200; Fax :+91-22-62638280 E-mail: ipo@bigshareonline.com Investor Grievance Email: investors@bigshareonline.com Website: www.bigshareonline.com Contact Person: Mr. Babu Rapheal C. SEBI Registration No.: INR000001385 |
Adishakti Loha IPO – Other Details
- Statutory Auditor – Sushil Lal & Associates, Chartered Accountants
- Legal Counsel to the Company – Ms. Anu Sapra
- Bankers to the Company – YES Bank Limited
Adishakti Loha IPO (ASL IPO) Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Adishakti Loha IPO (ASL IPO) News
News 1 – Adishakti Loha IPO (ASL IPO) RHP Download
Adishakti Loha IPO Review FAQs
What is the Issue Size of Adishakti Loha IPO?
The Company is making an initial public offer of 1,820,000 equity shares. We vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Adishakti Loha IPO?
The price band for this particular IPO ranges between Rs 11. As far as the face value of the share is of concern, it is Rs.10 per share.
What is the Adishakti Loha IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on Sep 30, 2021, while the closing date is set at Oct 5, 2021.
What is the Adishakti Loha IPO Allotment Date?
We also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on NA, refund initiation is on NA, credit of shares is on NA, and share listing date is on NA.
What is the Adishakti Loha IPO Listing Date?
Shares of this company shall be listed in the exchanges NA. The date, when the listing would be done, is stagnant on NA.
Who is the Registrar of Adishakti Loha IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Bigshare Services Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Adishakti Loha IPO?
Here are the promoters of this IPO – MR. PAWAN KUMAR MITTAL. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Adishakti Loha IPO?
We have obtained the GMP of this IPO and it is NA. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is Adishakti Loha IPO good for Investment?
We have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Adishakti Loha Company?
We have the information of company financials, and according to that, we have the figures from the last few years to provide. PAT for the financial year 2020 in Lakh is (2,14,021), 2019 is 1,90,937, 2018 is 41,047.
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