Abha Power and Steel, based in Chhattisgarh, is set to launch its initial public offering (IPO) on November 27, aiming to raise Rs 38.5 crore at a fixed price of Rs 75 per share. The IPO includes a fresh issue of 41.39 lakh shares and an offer-for-sale of 10 lakh shares by promoter Subhash Chand Agrawal. Investors can apply for a minimum of 1,600 shares, with a maximum investment limit of Rs 2 lakh. The company operates two manufacturing plants with a capacity of 14,400 metric tonnes per annum and is a certified vendor for Indian Railways and other major organizations.
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