On Tuesday, December 3, the share price of Rajputana Biodiesel had a spectacular debut on the NSE SME market. In comparison to the issue price of ₹130, the stock was listed for a 90 per cent premium at ₹247. It extended gains and reached its upper circuit at ₹259.35 shortly after the listing.
Nearly 719 subscriptions were made to the ₹25 crore book-built issue between its opening on Tuesday, November 26, and its closing on Thursday, November 28. The component designated for non-institutional buyers received 1,346 subscriptions, compared to 747 for the retail portion.
A total of 6.29 lakh shares were made available to individual investors, 2.70 lakh to non-institutional buyers, and 3.45 lakh to eligible institutional buyers in the Rajputana Biodiesel IPO. The issue’s price range for each equity share was ₹123–₹130. Friday, November 29th is the date of the IPO allotment.
The issue’s net proceeds will be used by the corporation for a number of important projects. The majority would be given as a loan to Nirvaanraj Energy Private Limited (NEPL), a subsidiary, to cover capital expenses for growing its production plant. For general business operations and to cover the company’s working capital requirements, the remaining cash will be distributed.
Glycerine and fatty acids, which are byproducts of biofuels, are produced and supplied by Rajputana Biodiesel. The company’s installed production capacity is 30 kiloliters per day (klpd), as stated in its DRHP.
The main Indian stock market, the Nifty 50, had positive trading on Tuesday. With most equities in the green, the index increased by half a per cent during the morning session.
Of the sectoral indices, the Nifty Bank index increased by 1% and the Nifty PSU Bank index jumped by more than 2%.
