Positron Energy IPO Subscribed More Than 410 Times At The End Of Day 3

The initial public offering of Positron Energy Ltd. was subscribed more than 400 times on the final day of subscription, led by demand from non-institutional investors. The SME IPO was subscribed 61.14 times on Tuesday and 19.78 times on Monday.

The IPO was subscribed 414.86 times on Wednesday.

• Qualified institutional buyers: 231.41 times.

• Non-institutional investors: 805.84 times.

• Retail investors: 351.90 times

- As per chittorgarh.com.

Positron Energy Limited launched its initial public offering on Monday. The IPO, a book-built issue totalling Rs. 51.21 crore, comprises a fresh issue of 20.48 lakh shares. Notably, there is no offer for sale component in this IPO.The Positron Energy IPO price band is between Rs 238 and Rs 250 per share. Investors can apply in minimum lots of 600 shares, with a minimum investment amount of Rs 150,000 for retail investors. High Net-Worth Individuals need to apply for a minimum of 1,200 shares, translating to an investment of Rs 300,000.

As per the company's red herring prospectus (RHP), of the total shares offered - 50% is reserved for QIB, 35% is reserved for retail investors and 15% is reserved for non-institutional investors. 102,600 shares are reserved for market makers.

Beeline Capital Advisors Pvt Ltd is acting as the book-running lead manager, while Link Intime India Private Ltd. will serve as the registrar for the issue. Spread X Securities is designated as the market maker.

The allotment for Positron Energy IPO is expected to be finalised on Friday, August 16. The shares of Positron Energy Limited will be listed on the NSE SME platform, with a tentative listing date of Tuesday, August 20.

• IPO Open Date: Monday, August 12.

• IPO Close Date: Wednesday, August 14.

• Price Band: Rs 238-250 per share.

• Face Value: Rs 10 per share.

• Lot Size: 600 shares.

• Allotment Date: Friday, August 16.

• Listing Date: Tuesday, August 20.

• Listing At: NSE SME.

Established in 2008, Positron Energy Ltd. deals in the oil and gas industry in India. The company specialises in providing comprehensive management and technical advisory services, focusing on gas distribution solutions.

Their offerings include management consultancy, project management, and operation and management services. Positron Energy also operates a gas aggregation business and leverages common carrier pipeline networks across India. The company is ISO 9001:2015 and ISO 45001:2018 certified, ensuring quality consultancy and operational services.

The proceeds from the IPO’s fresh issue will be allocated towards meeting working capital requirements and general corporate purposes. The funds is also expected to support the company's expansion plans and enhance its operational capabilities.

For the fiscal year ending March 31, 2024, the company reported a revenue increase of 160.29%, and its profit after tax surged by 312.96% compared to the previous year.