Positron Energy IPO Subscribed More Than 19 Times Ahead Of Day 2; Check Price Band And More

Positron Energy Ltd. 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 issue is slated to close on August 14 with Positron Energy share allotment expected to be finalised on August 16. The shares will be listed on the NSE SME platform, with a tentative listing date of August 20.

The price band for the Positron Energy IPO is set 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.

• 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.

The IPO was subscribed 19.78 times on Monday.

• Qualified institutional buyers: 4.82 times.

• Non-institutional investors: 14.34 times.

• Retail investors: 30.63 times

The subscription status of the IPO will be updated at regular intervals.

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.