Thu Sep 12 05:36:00 UTC 2024: ## Aditya Ultra Steel IPO Successfully Completes Oversubscribed Offering

**Mumbai, September 12, 2023:** Aditya Ultra Steel’s ₹45.88 crore initial public offering (IPO) has concluded successfully, with the company set to finalize share allotment today. The IPO, which opened for subscription on Monday, September 9th, saw strong demand with an overall subscription of 10.6 times. The retail segment was particularly enthusiastic, subscribing 23 times the allotted shares.

The price band for the IPO was ₹59 to ₹62 per share, and the company intends to utilize the net proceeds to meet working capital needs and general corporate purposes.

**Share Allotment and Listing:**

The share allotment is expected to be finalized today, September 12th. Successful bidders can expect shares to be credited to their demat accounts on Friday, September 13th, while unsuccessful applicants will receive their refunds on the same day. The company’s shares are scheduled to debut on the NSE SME platform on Monday, September 16th.

**Grey Market Premium:**

Notably, Aditya Ultra Steel’s shares are not currently trading at a premium in the grey market. The last recorded Grey Market Premium (GMP) is ₹0, indicating an estimated listing price of ₹62.

**How to Check Share Allotment Status:**

Investors can check their allotment status online via two convenient methods:

* **Registrar’s Website:**
* Visit the registrar’s website: https://ipo.cameoindia.com/
* Select “Aditya Ultra Steel”
* Choose “Application number,” “PAN,” or “DP/Client ID” and enter the corresponding information.
* Enter the captcha code and click “Submit.”
* **NSE Website:**
* Visit the NSE website: https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
* Register using your PAN.
* Log in with your username, password, and captcha code.
* Check your IPO allocation status.

**Company Overview:**

Aditya Ultra Steel manufactures and sells TMT bars under the “Kamdhenu” brand, primarily serving the building and infrastructure development industries.

**Disclaimer:** The views and recommendations expressed above are those of individual analysts, experts, and brokerage firms, not Mint. We advise investors to consult certified experts before making any investment decisions.

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