| Initial public offer of 51,39,200 equity shares of Rs. 10 each ("Equity Shares") of Abha Power and Steel Limited (the "Company" or the "Issuer") for cash at a price of Rs. 75/- per share (the "Issue Price"), aggregating to
Rs. 38.54 crores ("The Issue"), consisting of fresh issue of 41,39,200 equity shares aggregating to Rs. 31.04 crores and an offer for sale of 10,00,000 equity shares by Subhash Chand Agrawal ("The Promoters Selling Shareholder" or "The Selling Shareholder") aggregating to Rs. 7.50 crores ("Offer for Sale"), of which 2,62,400 equity shares of Rs. 10 each will be reserved for subscription by aggregating market maker to the issue (the "Market Maker Reservation Portion"). The issue less than the market maker reservation portion i.e. issue of 48,76,800 equity shares of Rs. 10 each is hereinafter referred to as the "Net Issue". The issue and the net issue will constitute 27.65% and 26.24% respectively of the post issue paid up equity share capital of the company.
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