Rajputana Biodiesel IPO Subscribed More Than 85 Times On Wednesday; GMP Rises
The grey market premium for the Rajputana Biodiesel public issue was Rs 100 on Nov. 27.
The initial public offering from Rajputana Biodiesel Ltd. that opened for subscription on November 26, was subscribed more than 85 times on Day 2. The SME issue was fully subscribed on Day 1 and garnered significant attention from retail investors as the issue was booked 19.54 times on Tuesday. The Rs 24.7-crore IPO is an entirely fresh issue of 19 lakh shares.
Investors who wish to apply for the Rajputana Biodiesel IPO may check these important details before bidding for the issue.
Rajputana Biodiesel IPO: Dates, Price Band And Lot Size
The Rajputana Biodiesel IPO will remain open for bidding between Nov. 26 and Nov. 28.
The price band of the IPO has been fixed between Rs 123 and Rs 130 per share. Retail investors have to buy at least a single lot of 1,000 shares, aggregating to a minimum investment of Rs 1,30,000.
Share allotment status is expected to be finalised on Nov. 29. The shares will be credited to the demat accounts of successful bidders on Dec. 2. Refunds for non-allottees will be initiated on Nov. 29.
The Rajputana Biodiesel issue is scheduled to list on Dec. 3 on the NSE SME platform, Emerge.
The book-running lead manager for the SME issue is GYR Capital Advisors Pvt. and the registrar is Maashitla Securities Pvt. The market maker for Rajputana Biodiesel IPO is Giriraj Stock Broking.
Rajputana Biodiesel IPO Day 2 Subscription Status
The IPO was subscribed 87.56 times on Wednesday
Qualified Institutions: 1.54 times
Non-Institutional Buyers: 64.37 times
Retail Investors: 144.70 times
Rajputana Biodiesel IPO GMP Today
The grey market premium for the Rajputana Biodiesel public issue was Rs 100 on Nov. 27. The latest GMP indicates a potential listing gain of 76.92%, with an estimated listing price of Rs 230 per share.
The GMP has shown an upward trend since the beginning of this week. On Monday, the GMP stood at Rs 80, a day ahead of IPO opening.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
Rajputana Biodiesel IPO Day 1 Subscription Status
The IPO was subscribed 19.54 times on Tuesday (Day 1)
Qualified Institutions: 0.71 times
Non-Institutional Buyers: 13.27 times
Retail Investors: 32.56 times
Rajputana Biodiesel's Business
Rajputana Biodiesel Ltd. was founded in 2016. The company produces and supplies biofuels and their by-products. Its product portfolio includes bio-diesel, crude glycerin, caustic potash flakes, and other such products.
Use Of Proceeds
The company plans to use the proceeds of the public issue for lending a loan to its subsidiary Nirvaanraj Energy Pvt. for expanding its manufacturing facility. Rajputana Biodiesel also plans to use the money raised via the public issue for funding its working capital requirements and for general corporate purposes.
Financials
Rajputana Biodiesel’s revenue from operations for the period ended July 31, 2024, stood at Rs 27.79 crore. The company had reported a net profit of Rs 2.59 crore in the July quarter of FY25.
In the financial year 2023–24, the company's revenue from operations stood at Rs 53.67 crore, marking a more than 127% year-on-year jump from Rs 23.54 crore in the preceding fiscal.
Net profit in FY24 rose over 169% to Rs 4.52 crore compared to the previous fiscal's Rs 1.68 crore.
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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.
