Abha Power and Steel Ltd IPO

Our Company was incorporated as Abha Power and Steel Private Limited, a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated May 27, 2004, issued by the Registrar of Companies, Chhattisgarh. Our Company was converted into a public limited company pursuant to a resolution passed by our Shareholders at an extraordinary general meeting held on March 30, 2024, and a fresh certificate of incorporation dated June 5, 2024, was issued by the Assistant Registrar of Companies, Central Processing Centre, consequent upon conversion, recording the change in the name of our Company to `Abha Power and Steel Limited'.

The global economic recovery from the COVID-19 pandemic, Russia's invasion of Ukraine, and the cost-ofliving crisis is proving surprisingly resilient. Inflation is falling faster than expected from its 2022 peak, with a smaller-than-expected toll on employment and activity, reflecting favorable supply side developments and tightening by central banks, which has kept inflation expectations anchored. At the same time, high interest rates aimed at fighting inflation and a withdrawal of fiscal support amid high debt are expected to weigh on growth in 2024. Growth resilient in major economies. Economic growth is estimated to have been stronger than expected in the second half of 2023 in the United States, and several major emerging market and developing economies. In several cases, government and private spending contributed to the upswing, with real disposable income gains supporting consumption amid still-tight-though easing-labor markets and households drawing down on their accumulated pandemic-era savings. A supply-side expansion also took hold, with a broad-based increase in labor force participation, resolution of pandemic-era supply chain problems, and declining delivery times. The rising momentum was not felt everywhere, with notably subdued growth in the euro area, reflecting weak consumer sentiment, the lingering effects of high energy prices, and weakness in interest-rate-sensitive manufacturing and business investment. Low-income economies continue to experience large output losses compared with their pre pandemic (2017-19) paths amid elevated borrowing costs.

We are engaged in the business of iron and steel foundry, more particularly in the business of casting and manufacturing customised products in mostly all grades of iron and steel. Our versatile product portfolio covers all grades of mild steel, spheroidal graphite cast iron, manganese steel, stainless steel, low alloy and high alloy castings (high CR & high Ni), HRCS & WRCS, from as small as 0.5 Kgs to 6 Tonnes single finished casting. We are a RDSO certified vendor for supply of certain casting products to Indian Railways and an approved vendor for supply of certain casting products to National Mineral Development Corporation and Integral Coach Factory, Chennai. We are also holding a PED Certificate from TUV-Nord which certifies our quality management system for manufacturing of castings and makes us eligible for supply of pressure equipment to European nations.