August 20, 2024
New Delhi, India
NSE SME
Positron Energy Limited made a remarkable debut on the NSE SME today, with its shares opening at ₹475 apiece, representing a 90% premium over the issue price of ₹250. Following the strong opening, the shares quickly hit the 5% upper circuit, indicating robust investor demand.
Stock Market Debut: Positron Energy shares opened at ₹475 on the NSE SME platform, significantly outperforming the market’s expectations. This 90% surge from the issue price reflects strong investor confidence, buoyed by the company’s impressive financial performance and growth prospects. The shares were soon locked in the 5% upper circuit, further highlighting the stock’s positive reception in the market.
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Positron Energy IPO Details:
- IPO Subscription Period: The Positron Energy IPO was open for subscription from August 8 to August 12.
- Price Band: The IPO was priced between ₹238 and ₹250 per share.
- Issue Size: The IPO raised ₹51.21 crore through a fresh issuance of 2,048,400 equity shares, each with a face value of ₹10.
- No Offer for Sale: The IPO consisted solely of a fresh issue, with no offer for sale component.
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IPO Subscription Status: The IPO received overwhelming interest from investors, with a subscription rate of 414.86 times on the last day of bidding. This high level of subscription reflects strong market interest in the company’s future potential.
Company Background: Founded in 2008, Positron Energy Limited provides technical and managerial services to the Indian oil and gas sector. The company specializes in offering comprehensive gas distribution solutions, including project management, operation and management services, and management consulting. Positron Energy also focuses on expanding its natural gas aggregation business through common carrier pipeline networks in India.
Financial Performance: Positron Energy has demonstrated substantial growth in recent years. Between March 31, 2023, and March 31, 2024, the company’s profit after tax (PAT) surged by 312.96%, while its revenue increased by 160.29%. This strong financial performance has contributed to the positive market sentiment surrounding the company.
Use of IPO Proceeds: The proceeds from the IPO will be utilized to meet working capital requirements and for general corporate purposes, supporting the company’s ongoing expansion and operational needs.
Key Players:
- Registrar: Link Intime India Private Ltd
- Book Running Lead Manager: Beeline Capital Advisors Pvt Ltd
- Market Maker: Spread X Securities
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