Positron Energy IPO: The initial public offering (IPO) of Positron Energy Ltd, which was opened for public subscription on Monday, has received a strong response on its first day. The price band of the SME IPO was fixed at Rs 238-250 per share. On the first day of bidding on Monday, the 51.21-crore IPO received a 19.37 times subscription, garnering bids for 2,63,92,200 shares as against 13,62,600 shares on offer.
According to the latest data, the retail quota received a 29.87 times subscription, while the non-institutional investors category also got a 14.23 times subscription. The QIB (qualified institutional buyers) category received a 4.82 times subscription.
The Positron Energy IPO will be closed on August 14. Its price band has been fixed at Rs 238-Rs 250 apiece. The share allotment will likely be finalised on August 16, while its listing will take place on the NSE SME on August 20.
Positron Energy IPO GMP Today
According to market observers, unlisted shares of Positron Energy Ltd are trading Rs 200 higher in the grey market than its issue price. The Rs 200 grey market premium or GMP means the grey market is expecting an 80 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Positron Energy IPO: More Details
Positron Energy Limited, which was founded in 2008, provides management and technical advisory for the oil and gas industry in India. They offer end-to-end gas distribution solutions, including management consultancy, project management, and operation and management services. The company has developed a gas aggregation business focusing on natural gas and utilises common carrier pipeline networks in the Indian market.
The Positron Energy IPO comprises of a fresh issue of 20.48 lakh shares.
Investors need to apply for a minimum of 600 equity shares and in multiples thereof. Hence, the minimum investment by retail investors would be Rs 1,50,000 [600 (lot size) x Rs 250 (upper price band)].
Positron Energy Ltd’s revenue increased 160.29 per cent and its net profit rose 312.96 per cent in the financial year 2023-24.
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