June 19, 2024
New Delhi, India
IPO Watch
Petro Carbon and Chemicals Limited is set to launch its initial public offering (IPO) on June 25, with a price band of ₹162 to ₹171 per equity share. The IPO will remain open for subscriptions until June 27.
IPO Details
- Price Band: ₹162-171 per share (face value of ₹10 each).
- Subscription Period: June 25 to June 27.
- Lot Size: Minimum of 800 equity shares, with subsequent bids in multiples of 800 shares.
- Allocation:
- Qualified Institutional Buyers (QIB): 50%
- Retail Investors: 35%
- Non-Institutional Investors: 15%
- Market Makers: 6.50%
Company Background
Petro Carbon and Chemicals Limited is part of the Atha Group, a diverse Indian conglomerate established in 1957. The company manufactures and markets calcined petroleum coke (CPC), a key product in the carbon industry. Over the past decade, the Atha Group has focused on business diversification, forward and backward integrations, and project acquisitions, contributing to its stable performance and growth.
Financial Performance
The company has shown robust financial growth, with revenue climbing by 84.92% and profit after tax (PAT) increasing by 17.8% between the fiscal years ending March 31, 2022, and March 31, 2023. Listed peers in the industry include Goa Carbon Ltd (P/E of 8.76) and India Carbon Ltd (P/E of 13.85).
IPO Structure and Objectives
The IPO, valued at ₹113.16 crore, is entirely an offer-for-sale, comprising up to 66,17,600 equity shares. The promoters selling their shares include Kishor Kumar Atha, Dilip Kumar Atha, Gaurav Atha, Vishal Atha, and Bharat Atha. The primary objective is to benefit from the equity shares’ listing on stock exchanges and to facilitate the sale of equity shares by the selling shareholders.
Market Response and Advisory
The Petro Carbon and Chemicals IPO is managed by GYR Capital Advisors Private Limited, with Bigshare Services Pvt Ltd acting as the registrar. Potential investors are advised to consider the company’s financial performance, market position, and growth strategies before making investment decisions.
Key Dates
- IPO Opens: June 25
- IPO Closes: June 27
Conclusion
Investors looking to subscribe to the Petro Carbon and Chemicals IPO should review the detailed information and assess the company’s market standing and growth potential. With a strong background in the carbon industry and a diversified business model, Petro Carbon and Chemicals aims to leverage its IPO to enhance market visibility and shareholder value.
Disclaimer:
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