Aditya Ultra Steel IPO – Review, Allotment, Subscription, GMP & DRHP
Last Updated Date: Nov 28, 2022Aditya Ultra Steel Limited is engaged in the business of manufacturing of superior quality TMT bars. Aditya Ultra Steel IPO comprises public Issue of [●] Equity Shares of Rs.10/- each at a price of Rs. [●]/- per Equity Share aggregating to Rs. 4500.00 Lakhs.
Let’s have a detailed review of the company and analytics of the Aditya Ultra Steel IPO release date, IPO offer price, subscription, Aditya Ultra Steel IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
Aditya Ultra Steel IPO Review & Ratings by Top10StockBroker
| IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 8.5/10 |
| Industry Ranking | 7.8/10 |
| Company Background | 7.9/10 |
| Company Reputation | 7.9/10 |
| Competitive Edge | 7.7/10 |
| Financial Statements | 7.8/10 |
| Popularity Index | 8.4/10 |
| Promoters Reputation | 7.7/10 |
| Retail Appetite | 7.9/10 |
| Top Brokers Review | 7.9/10 |
| Overall Ratings | 8.1/10 |
| Star Ratings | ★★★★☆ |
Summary of Aditya Ultra Steel IPO
Aditya Ultra Steel Limited is engaged in the business of manufacturing of superior quality TMT bars. This is a Public Issue of [●] Equity Shares of Rs.10/- each at a price of Rs. [●]/- per Equity Share aggregating to Rs. 4500.00 Lakhs.
From FY 2013-14 to FY 2016-2017, as per the Restated Financial Statements,
- The operating income of the Company for the year ending March 31, 2018 is Rs. 14578.04 Lakhs as compared to Rs. 5804.68 Lakhs for the year ending March 31, 2017, showing increase of 151.14% and such increase due to increase in operational working period.
- The Net Asset Value per Equity Share as at July 31, 2018 was Rs. 10.06 and as on March 31, 2018 was Rs. 6.66
- The Net Worth of the Company is Rs. 1226.86 Lakhs for the period ended July 31, 2018 and the book
value of each Equity Share was Rs. 10.06 as of July 31, 2018 as per the Restated Financial Statements - Profit after tax increased by 132.57% from 201.21 Lakhs in financial year 2016-17 to Rs. 467.96 Lakhs in financial year 2017-18 due to increase in production, turnover and margins.
The Promoters of this company are Mr. VARUN JAIN and Mrs. VARUNA VARUN JAIN. The lead manager to the issue are Mark Corporate Advisors Private Limited and the Registrar to this issue is Cameo Corporate Services Limited. The lead manager to the issue are Mark Corporate Advisors Private Limited and the Registrar to this issue is Cameo Corporate Services Limited.
Subscribe to Aditya Ultra Steel IPO
Aditya Ultra Steel IPO Date
The opening and the closing date of Aditya Ultra Steel IPO is not known yet.
Aditya Ultra Steel IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| Day 1 | ||||
| Day 2 | ||||
| Day 3 | ||||
| Day 4 | ||||
| Day 5 | ||||
| Shares Offered or Net Issue |
The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.
Aditya Ultra Steel IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Aditya Ultra Steel IPO Price Band
The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed.
Aditya Ultra Steel IPO Equity Share Offering
This is a Public Issue of [●] Equity Shares of Rs.10/- each at a price of Rs. [●]/- per Equity Share aggregating to Rs. 4500.00 Lakhs
Aditya Ultra Steel Limited – Company Overview
Aditya Ultra Steel Limited was originally incorporated as Aditya Ultra Steel Private Limited on 27th July, 2011 under the provisions of Companies Act, 1956. This company is engaged in the business of manufacturing of superior quality TMT bars.
Within a short span of time, the Company has carved a niche for itself in the Steel Industry, which is witnessed by growth in Operational Revenue from Rs. 58 crore in fiscal 2017 to 145 crore in fiscal 2018. The Company is promoted by team of young entrepreneurs and experienced veterans with proven track records. At present they have an integrated production capacity of 1,00,000 MT for TMT Bars.
This Company is into products such as 8mm TMT bar, 10 mm TMT bar, 12 mm TMT bar, 16 mm TMT bar, 20 mm TMT bar, 25 mm TMT bar, 32 mm TMT bar.
The Company is promoted by Mr. Varun Manojkumar Jain and Mrs. Varuna Varun Jain and are the guiding force behind the growth and strategic decisions of the Company.
Competitive Strengths of Aditya Ultra Steel Limited:
- Track Record of the Company
- Stringent quality control
- Leveraging the experience of the Promoter
- Experienced management team and a motivated and efficient work force
- Scalable Business Model
Business strategies of Aditya Ultra Steel Limited:
- Augment the working capital base in order to better utilize the installed capacity
- Focus on consistently meeting quality standards
- Optimal Utilization of Resources and Incentives
- Brand image
Aditya Ultra Steel Limited – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakhs) | |||||
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-July-14 | |
| Total Assets | 6,428.38 | 5,503.57 | 2,532.16 | 3,118.19 | 2,425.17 |
| Total Revenue | 14,736.16 | 5,863.78 | 2,851.30 | 5,316.21 | 4,104.67 |
| Total Expense | 14,148.07 | 5,620.87 | 3,141.98 | 5,462.33 | 4,345.57 |
| Profit After Tax | 467.96 | 201.21 | (319.94) | (128.43) | (180.66) |
Earnings per Equity Share (in Lakhs)
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Basic & Diluted | 3.84 | 1.65 | (2.62) |
From the above statements, one could find that the Aditya Ultra Steel Limited may perform well.
Aditya Ultra Steel IPO – Promoters
The Promoters of this company are:
- Mr. Varun Jain
- Mrs. Varuna Varun Jain
List of Related Parties (Key Managerial Personnel)
- Mr. Gandharv Khandelwal, Company Secretary & Compliance Officer
- Mr. Mayurkumar Patel (Chief Financial Officer) , Chief Finance Office
Interest in promotion of the Company
Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.
Property Interest
The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.
Interest in Intellectual Rights of the Company
Promoters has not shown any interest in acquiring the intellectual rights of the company.
Aditya Ultra Steel IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Issued: Public Issue of Equity Shares by the Company |
This is a Public Issue of [●] Equity Shares of Rs.10/- each at a price of Rs. [●]/- per Equity Share aggregating to Rs. 4500.00 Lakhs |
| of which | |
| Issue Reserved for the Market Makers | [●] Equity Shares of Rs.10/- each |
| Net Issue to the Public* | [●] Equity Shares of Rs.10/- each |
| Of which | |
| [●] Equity Shares of Rs.10/- each will be available for allocation for allotment to Retail Individual Investors of up to Rs. 2.00 Lakhs | |
| [●] Equity Shares of Rs.10/- each will be available for allocation for allotment to Retail Individual Investors of above Rs. 2.00 Lakhs | |
| Equity Shares outstanding prior to the Issue |
[●] Equity Shares of face value of Rs.10/- each |
| Equity Shares outstanding after the Issue |
[●] Equity Shares of face value of Rs.10/- each |
Aditya Ultra Steel IPO Issue Object
These are the IPO Issue Objects of the company
- Funding the Working Capital requirements of the Company:
- Repayment/ pre-payment of certain unsecured loans availed from banks and financial institutions by the company; and
- General Corporate Purposes
List of Upcoming IPOs in 2018
| Pommys Garments IPO | Indo US Biotech IPO | Medibios Laboratories IPO | Shree Vasu Logistics IPO |
| R R Industrial IPO | Sorich Foils IPO | 20 Microns IPO |
Aditya Ultra Steel 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:
- Track Record of the Company
- Stringent quality control
- Leveraging the experience of the Promoter
- Experienced management team and a motivated and efficient work force
- Scalable Business Model
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-16 | (2.62) | (223.98) | – |
| 31-Mar-17 | 1.65 | 58.48 | – |
| 31-Mar-18 | 3.84 | 57.63 |
6.66 |
- Price to Earnings (P/E) ratio in relation to Issue Price of [●] per Equity Share of face value of Rs. 10 each
| Particulars | P/E ratio |
| Highest | 33.9 |
| Average | 9.5 |
| Lowest | 3.9 |
- Competitive Peers:
| Sr. No. | Particulars | Face Value (in Rs.) | Basic EPS (In Rs.) | P/E Ratio | RONW in % |
| 1 | Aditya Ispat Ltd | 10 | 0.89 | 6.89 | 5.35 |
| 2 | Rathi Bars Limited | 10 | 0.86 | 11.90 | 1.79 |
| 3 | Kamdhenu Limited | 10 | 6.70 | 22.77 | 10.91 |
List of Latest IPOs of 2018
| Fine Organic IPO | IndoStar Capital IPO | Capricorn Food Products IPO | Flemingo Travel Retail IPO |
| Nazara Technologies IPO | Genius Consultants IPO | Rail Vikas Nigam IPO | Varroc Engineering IPO |
Aditya Ultra Steel IPO Lead Managers
| Lead Managers |
| MARK CORPORATE ADVISORS PRIVATE LIMITED CIN: U67190MH2008PTC181996 404/1, The Summit Business Bay, Sant Janabai Road (Service Lane), Off W. E. Highway, Vile Parle (East), Mumbai-400 057. Contact Person: Mr. Manish Gaur Tel. No.: +91 22 2612 3207/08 E-Mail ID: smeipo@markcorporateadvisors.com SEBI Regn No.: INM000012128 Investor Grievance E-Mail ID: compliance@markcorporateadvisors.com Website: www.markcorporateadvisors.com |
Aditya Ultra Steel IPO Registrar to offer
| Registrar to the Offer |
| CAMEO CORPORATE SERVICES LIMITED Subramanian Building, 1, Club House Road, Chennai-600 002 Contact Person: Mr. Prashant N. Sanil Tel No.: +91 44 2846 0425 E-Mail ID: rdr@cameoindia.com Investor Grievance E-Mail ID: investor1@cameoindia.com SEBI Regn No.: INR000003753 Website: www.cameoindia.com |
Other Details:
- Statutory Auditor –S.N. Shah and Associates, Chartered Accountants
- Peer Review Auditor – S.N. Shah and Associates, Chartered Accountants
- Bankers to the Company – HDFC Bank Limited
Aditya Ultra Steel 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 |
Aditya Ultra Steel IPO Grey Market Premium
The Aditya Ultra Steel IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
Subscribe to Aditya Ultra Steel IPO
Market Guide
Featured Topics