Aditya Ultra Steel IPO – Review, Allotment, Subscription, GMP & DRHP

Aditya 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

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 IPOAditya 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. Shreekishan Joshi and Mr. Videh Shreekishan Joshi. The lead manager to the issue are Mark Corporate Advisors Private Limited and the Registrar to this issue is Cameo Corporate Services Limited.


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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 Manojkumar 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

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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

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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:
SEBI Regn No.: INM000012128
Investor Grievance E-Mail ID:

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:
Investor Grievance E-Mail ID:
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. 


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Aditya Ultra Steel IPO News

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