Neptune Petrochemicals IPO Day 1: Check GMP, Subscription Status, Price Band, Offer Size And More
The NSE SME issue, worth Rs 73.2 crore, comprises entirely a fresh issue of 60 lakh shares.
Neptune Petrochemicals Ltd. launched its initial public offering on May 28 to raise over Rs 70 crore from the primary market.
The company is in the business of importing, trading and manufacturing bitumen. Investors interested in this IPO can review the following details before applying for the company's shares.
Neptune Petrochemicals IPO: Key Details
The Neptune Petrochemicals IPO is a book-building issue worth Rs 73.20 crore. The NSE SME issue comprises entirely a fresh issuance of 60 lakh shares.
Retail investors can invest in the IPO by bidding for a minimum of a single lot size of 1,000 shares. This amounts to an investment of Rs 1,22,000. High Net-Worth Individuals (HNIs) can participate in the IPO by bidding for at least 2,000 shares, requiring an investment of Rs 2,44,000.
The IPO price band has been set between Rs 115 and Rs 122 per share.
The company has set aside 15% of the net offer size for Non-Institutional Investors (NIIs) and 35% for the retail investors. The remaining 50% of the net issue has been reserved for the Qualified Institutional Buyers (QIBs).
Beeline Capital Advisors Pvt. is the book-running lead manager of the Neptune Petrochemicals IPO. MUFG Intime India Pvt. (formerly known as Link Intime India) is the registrar for the issue.
The Neptune Petrochemicals IPO subscription window will close on May 30. The company is scheduled to finalise the share allotment status on June 2. Transfer of shares to the Demat account and processing of refunds will be made on June 3.
Shares of Neptune Petrochemicals are proposed to be listed on the NSE SME platform on June 4.
Neptune Petrochemicals IPO GMP Today
According to InvestorGain, the grey market premium (GMP) for the Neptune Petrochemicals IPO was Rs 0 at 1:36 p.m. on May 28. It indicates a potential flat listing for Neptune Peterochemicals shares.
Note: GMP does not represent official data and is based on speculation.
Neptune Petrochemicals IPO Day 1 Subscription Status
The IPO has been subscribed 0.23 times as of 2:49 p.m. on Wednesday.
Qualified Institutions: 0.21 times
Non-Institutional Buyers: 0.78 times
Retail Investors: NIL
The subscription status will be updated at regular intervals.
Neptune Petrochemicals Business And Financials
The company is in the business of manufacturing and trading bitumen products. These are used for roads, waterproofing and other construction projects.
Use Of Proceeds
The company will use proceeds from the IPO to fund capital expenditure, working capital requirements and general corporate purposes.
Financials
The company’s net profit more than doubled to Rs 20.81 crore in FY24 from Rs 10.39 crore in FY23. Total revenue fell 4.7% YoY to Rs 675.97 crore in FY24 from Rs 709.31 crore in FY23.
For the period ending Dec. 31, 2024, its profit after tax stood at Rs 19.46 crore, and revenue at Rs 620.16 crore.
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.
