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.

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Aditya Ultra Steel IPO Review & Ratings

IPO Ratings & Review
CriteriaRatings
Industry Sentiments8.5/10
Industry Ranking7.8/10
Company Background7.9/10
Company Reputation7.9/10
Competitive Edge7.7/10
Financial Statements7.8/10
Popularity Index8.4/10
Promoters Reputation7.7/10
Retail Appetite7.9/10
Top Brokers Review7.9/10
Overall Ratings8.1/10
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. 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.


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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 / DateQIBNIIRIITotal 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-1831-Mar-1731-Mar-1631-Mar-1531-July-14
    Total Assets6,428.385,503.572,532.163,118.192,425.17
    Total Revenue14,736.165,863.782,851.305,316.214,104.67
    Total Expense14,148.075,620.873,141.985,462.334,345.57
    Profit After Tax467.96201.21(319.94)(128.43)(180.66)

    Earnings per Equity Share (in Lakhs)

    31-Mar-1831-Mar-1731-Mar-16
    Basic & Diluted3.841.65(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

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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 EPSRONW (%)NAV (Rs.)
    31-Mar-16(2.62)(223.98)
    31-Mar-171.6558.48
    31-Mar-183.8457.63
    6.66
    • Price to Earnings (P/E) ratio in relation to Issue Price of [●] per Equity Share of face value of Rs. 10 each
    ParticularsP/E ratio
    Highest33.9
    Average9.5
    Lowest3.9
    • Competitive Peers:
    Sr. No. ParticularsFace Value  (in Rs.)Basic EPS (In Rs.)P/E RatioRONW in %
    1Aditya Ispat Ltd100.896.895.35
    2Rathi Bars Limited100.8611.901.79
    3Kamdhenu Limited106.7022.7710.91

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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: 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 ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
    Angel Broking7.5/107.4/108.5/108.1/107.1/10
    Sharekhan7.2/107.1/108.6/108.1/107.2/10
    Kotak Securities7.3/107.5/108.4/108.1/107.3/10
    ICICI Direct7.3/107.3/108.7/108.1/107.1/10
    IIFL7.5/107.2/108.8/108.0/107.1/10
    Edelweiss7.5/107.4/108.4/108.3/107.2/10
    Zerodha7.4/107.1/108.5/108.1/107.0/10
    5Paisa7.1/107.1/108.4/108.1/107.1/10
    Karvy7.4/107.3/108.2/108.1/107.1/10
    Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

    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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