December 3, 2024
New Delhi, India
Rajputana Biodiesel’s Stellar Listing Performance
Rajputana Biodiesel marked an impressive entry on the NSE SME platform on Tuesday, December 3, as its stock was listed at ₹247, reflecting a 90% premium over its IPO price of ₹130. Shortly after the debut, the stock surged further, hitting its upper circuit at ₹259.35.
Record-Breaking IPO Subscription
The ₹25 crore IPO, which opened for subscription between November 26 and 28, received overwhelming investor interest, being subscribed nearly 719 times overall. The retail portion was oversubscribed by 747 times, while non-institutional buyers bid 1,346 times the reserved quota.
Fund Allocation and Future Plans
The company plans to utilize the proceeds from the IPO strategically:
- A significant portion will be extended as a loan to its subsidiary, Nirvaanraj Energy Private Limited (NEPL), to fund the expansion of its manufacturing facility.
- The remaining funds will address working capital requirements and general corporate purposes.
About Rajputana Biodiesel
Rajputana Biodiesel specializes in manufacturing and supplying biofuels, along with by-products such as glycerine and fatty acids. The company boasts an installed production capacity of 30 kiloliters per day (klpd), supporting its robust growth ambitions.
This remarkable market debut highlights strong investor confidence in Rajputana Biodiesel’s potential and strategic focus on sustainable energy solutions.
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