Abha Power and Steel Limited has announced a board meeting to approve the financial results for the quarter and half-year.

The company has utilized ₹12.07 Cr of its IPO proceeds so far, investing ₹6.13 Cr in modernizing and upgrading its Bilaspur manufacturing facilities to broaden its product range.

₹3 Cr was allocated to working capital needs, and ₹2.94 Cr went towards general corporate purposes.

The remaining funds will be deployed in due course, with audits confirming compliance with the planned use of proceeds.