| The initial public offer (IPO) of Positron Energy received bids for 2,61,75,000 shares as against 20,48,400 shares on offer, as per NSE data as of 17:00 hours on Monday (12 August 2024). The issue was subscribed 12.77 times.
The issue opened for bidding on Monday (12 August 2024) and it will close on Wednesday (14 August 2024). The price band of the IPO is fixed at Rs 238 to Rs 250 per share. The minimum order quantity is 2,000 equity shares. The equity shares will list on NSE’s SME platform.
The IPO comprises fresh issue of 20,48,400 shares. The promoter and promoter group shareholding will dilute to 72% from 98.56% pre-IPO.
About 1,02,600 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 19,45,800 equity shares. The issue and the net issue will constitute 26.95% and 25.60% respectively of the post offer paid up equity share capital of the company.
The company intends to utilize the net proceeds for working capital requirements and general corporate purposes.
Ahead of the IPO, Positron Energy on Friday, 9 August 2024, raised Rs crore from anchor investors. The board allotted 5.83 lakh shares at Rs 250 per share to 10 anchor investor.
Positron Energy engaged in Management & Technical Advisory Services of Oil and Gas Industry. It provides end to end solutions for Gas distribution to the industries across India. It also provides management consultancy services like commercial and financial advisory, technical services including project management and O&M (Operation and Management) Services, across the Gas Sector in India. It has successfully developed a Gas aggregation business volume of 35 MMSCM (approx), especially Natural Gas. The company has 124 employees
The company recorded revenue from operations of Rs 134.73 crore and net profit of Rs 8.78 crore for the period as on 31 March 2024. |