Abha Power and Steel, established in 2004 and based in Bilaspur, Chhattisgarh, is a key player in India’s iron and steel foundry industry. Strategically located in a major steel hub, the company produces customised castings across a wide range of grades, including mild steel, spheroidal graphite cast iron (SGCI), manganese steel, stainless steel, and high-alloy castings. Its products, ranging from 0.5 kg to 6 tonnes, serve industries such as railways, steel, cement, mining, and power.
The company operates two advanced foundries in the Silpahri Industrial Area, Bilaspur, covering 319,200 square feet. Milestones include the launch of an SG Iron foundry in 2009 and a steel foundry in 2016. With over 20 years of experience, Abha Power and Steel has built a reputation for quality, safety, and cost-effectiveness, with strong customer retention and a significant portion of revenue from repeat clients. It exports to countries like the UAE, Germany, Canada, and Italy, showcasing its global reach.
The facility is equipped with modern infrastructure for melting, sand handling, pouring, mould-making, heat treatment, and testing. A 2.99 MW captive solar power plant supports operational cost reduction and enhances self-sufficiency in power, aligning with the company’s focus on sustainability and cost management. Additionally, its location in a mineral-rich, industrialised region offers logistical advantages and reduced transportation costs.
The company’s Initial Public Offering (IPO) proceeds from the Fresh Issue will be utilised for:
- Modernising and upgrading manufacturing facilities in Bilaspur, Chhattisgarh to expand its product portfolio.
- Meeting working capital requirements.
- General corporate purposes.
You can now apply for the Abha Power and Steel IPO on Upstox. Click here.