Aditya Ultra Steel IPO: Filed DRHP With SEBI

Aditya Ultra Steel Limited has filed the draft red herring prospectus with the market regulator, the Securities and Exchange Board of India to float an initial public offering (IPO). Aditya Ultra Steel IPO comprises a fresh issue of 74,00,000 Equity shares of ₹10. The company will be listed on the Emerge Platform of the National Stock Exchange of India Limited (NSE Emerge). Swastika Investment Limited is the book runner lead manager for Aditya Ultra Steel IPO, while Cameo Corporate Services Limited is the registrar to the issue.

Purpose of Aditya Ultra Steel IPO

The Issue Proceeds from the Fresh Issue will be utilised towards the following objects: 

• Capital Expenditure 
• To Meet Working Capital Requirements 
• General Corporate Purposes 
• To meet Public Issue Expenses

About Aditya Ultra Steel Limited

Incorporated in 2011, Aditya Ultra Steel Limited is engaged in the business of manufacturing rolled steel products i.e. TMT bars under the Kamdhenu brand, catering mainly to the construction industry and for infrastructure development. The company manufactures TMT bars from billets through a reheating furnace and rolling mill. The company possesses a rich history of more than 12 years in the manufacturing of TMT bars industry. It design and manufacture TMT bars and sell it on B2B Basis.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.