According to exchange data, Rajputana Biodiesel’s initial public offering (IPO), which went up for bid on Tuesday, November 26, attracted a substantial amount of investor interest. As of 11:00 a.m., the issue had been subscribed 0.23 times.
The non-institutional investor (NII) category received a 0.30 times subscription, but the retail investor segment earned a 0.33 times subscription. As for the qualified institutional buyer (QIB) category, as of Day 1, no offers have been received.
The money obtained through this issue will be used by the company for a number of important initiatives. To support the capital expenditures needed to expand its current manufacturing plant, a portion of the cash will be loaned to its subsidiary, Nirvaanraj Energy Private Limited (NEPL). The money will also be utilized for general business activities and to satisfy the company’s working capital needs.
On Tuesday, November 26, the issue went up for subscriptions, and it will end on Thursday, November 28. The price range for each equity share in the public offering has been set at ₹123 to ₹130. Through the new issue of 19 lakh shares, the business hopes to raise ₹24.70 crore.
Retail investors must invest a minimum of ₹1,30,000, and the IPO lot size is set at 1000 shares. Qualified institutional buyers can purchase 3.45 lakh shares in the IPO, while non-institutional buyers can purchase 2.70 lakh shares and regular investors can purchase 6.29 lakh shares.
The date of the IPO allotment is Friday, November 29. By Monday, December 2, investors who obtain an allotment will be able to view the shares in their demat accounts; those who do not will process their refunds that same day. On Tuesday, December 3, the SME IPO is scheduled to list on the NSE SME.
Market reports indicate that the Rajputana Biodiesel IPO’s GMP on Tuesday was ₹80, indicating that the stock would list ₹80 higher than the issue price of 130, or ₹210. The Rajputana Biodiesel IPO’s book-running lead manager is GYR Capital Advisors Private Limited, while the issue’s registrar is Maashitla Securities Private Limited. Giriraj Stock Broking is the market maker for the Rajputana Biodiesel IPO.
The company’s operations include the production and distribution of biofuels and their byproducts, which include fatty acids and glycerine. According to the company’s DRHP report, its installed production capacity is 30 kiloliters per day (klpd).
