Jaipur-based bio-fuel producer, Rajputana Biodiesel, is entering the capital market with an initial public offer to raise ₹24.7 crore commencing on November 26, 2024 and will remain open for public subscription up to November 28. Its issues are priced in the range of ₹123-₹130 per share. Listing will take place on December 3, on NSE Emerge.
IPO Structure
- Issue Size: Fresh issue of 19 lakh equity shares, raising ₹24.7 crore.
- Lot Size: Investors must bid for a minimum and maximum of 1,000 shares, amounting to ₹1.3 lakh per lot. Retail investors cannot invest more than ₹2 lakh.
- Allocation:
- 50% reserved for Qualified Institutional Buyers (QIBs).
- 35% for retail investors.
- 15% for Non-Institutional Investors (NIIs).
Fund Utilization
The IPO proceeds will be allocated as follows:
- ₹4.2 crore: Loan to its subsidiary, Nirvaanraj Energy, to expand its Uttar Pradesh manufacturing facility.
- ₹12.2 crore: Working capital requirements.
- Remaining funds: General corporate purposes.
Business Overview
Rajputana Biodiesel operates from Rajasthan with an installed production capacity of 24 kilolitres per day (KLPD). The company specializes in bio-fuels and by-products like glycerine and fatty acids.
Other Details
- GYR Capital Advisors will manage the IPO as the merchant banker.
- The company’s strategic growth plans include expansion in Uttar Pradesh through its subsidiary.
Investors looking for green energy and bio-fuel opportunities may consider this offering as a potential investment.
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Source: Moneycontrol
News Desk
