Rajputana Biodiesel IPO Allotment Finalised; GMP Climbs Ahead Of Listing

Rajputana Biodiesel Ltd.’s initial public offer (IPO) closed with a massive demand on the last day of bidding on Nov. 28. The IPO investors are now waiting for the share allotment status to be finalised by the company. Rajputana Biodiesel IPO share allotment status is expected to be decided on Nov. 29.

The investors across categories submitted bids for 89,41,99,000 shares compared to 12,44,000 shares on offer. The NSE SME issue was overall subscribed 718.81 times, as per market tracking site Chittorgarh.

The Non-Institutional Investors (NIIs) booked their category 1,345.96 times by applying for 36,34,10,000 shares against 2,70,000 shares on offer for them. The retail portion of the IPO was booked 746.57 times. The retail investors applied for 46,95,92,000 shares compared to 6,29,000 shares reserved for the category.

The Qualified Institutional Buyers (QIBs) submitted bids for 6,11,97,000 shares, compared to 3,45,000 shares set aside for the segment. The QIBs booked their quota 177.38 times.

The price band of Rajputana Biodiesel IPO was fixed at Rs 123 to Rs 130 per share. The minimum lot size for retail investors was fixed at 1,000 shares, requiring an investment of Rs 1,30,000.

The IPO is an entirely fresh issue of 19 lakh shares aimed at raising Rs 24.7 crore.

The IPO listing has been scheduled for Dec. 3. Shares of Rajputana Biodiesel will be listed on the NSE SME platform, Emerge.

The investors can check the Rajputana Biodiesel IPO share allotment status on the websites of the NSE and issue registrar, Maashitla Securities Pvt. Ltd.

Also Read: HOAC Foods To Rajputana Biodiesel, 10 Most Subscribed SME IPOs So Far

• Visit the NSE IPO allotment status page here.

• Registered users need to log in, while new users need to register before checking the IPO allotment status.

• Choose ‘Rajputana Biodiesel Limited' from the dropdown menu.

• Verify your PAN details.

• Enter the application number.

• Click submit to check the IPO allotment details.

• Go to the Maashitla Securities IPO allotment status page here.

• Select 'Rajputana Biodiesel Limited' from the drop down menu for company names.

• Select any of these— PAN/Application Number/Demat Number

• Enter details and click the 'Submit' button.

The GMP (Grey Market Premium) for the Rajputana Biodiesel IPO stood at Rs 111 per share on Friday, as per Investorgain. Taking into account the IPO's upper price band of Rs 130, the estimated listing price is likely to be Rs 241. The latest GMP suggests a potential listing gain of 85.38% per share.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

Rajputana Biodiesel IPO Use Of Proceeds

Rajputana Biodiesel plans to use the funds raised via the public issue for lending a loan to its subsidiary, Nirvaanraj Energy Pvt. Ltd., for its capital expenditure requirements towards the expansion of its existing manufacturing facility. The proceeds will also be used for funding working capital requirements of the company and general corporate purposes.

About Rajputana Biodiesel Ltd.

Rajputana Biodiesel Ltd. was founded in 2016. The company produces and supplies biofuels and their by-products. The company’s product portfolio includes Bio-Diesel, Crude Glycerin, Caustic Potash Flakes, Waste Sludge and other such products.  

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.