The Petro Carbon and Chemicals IPO has generated significant interest among investors. Launched by a prominent player in the carbon industry, the IPO aims to raise ₹113.16 crores through the offer for sale of 66.17 lakh shares. This article provides a complete overview of the allotment process and the details surrounding this IPO.
IPO Overview
- IPO Dates: The IPO opened on June 25, 2024, and closed on June 27, 2024.
- Price Band: The price range for the shares was set between ₹162 to ₹171 per share.
- Lot Size: The minimum bid lot size was 800 shares, translating to an investment range of ₹136,800 to ₹136,800 per lot.
- Total Issue Size: 6,617,600 equity shares, with the IPO entirely being an offer for sale.
Allotment Details
The basis of allotment for the Petro Carbon and Chemicals IPO was finalized on June 28, 2024. Here’s a breakdown of the allotment structure:
- Qualified Institutional Buyers (QIB): 50% of the shares were reserved for QIBs, which include entities such as banks, mutual funds, and insurance companies.
- Non-Institutional Investors (NII): 35% of the shares were allocated to non-institutional investors, typically including corporate bodies or individuals investing more than ₹2 lakhs.
- Retail Individual Investors (RII): 15% of the shares were reserved for retail individual investors who apply for shares with a total value of less than ₹2 lakhs.
- Market Maker Reservation: 430,400 shares were reserved for market makers.
Subscription Details
The subscription status showed robust demand across all categories:
- Day 1 (June 25, 2024): Overall subscription was 2.36 times.
- Day 2 (June 26, 2024): Overall subscription increased to 7.74 times.
- Day 3 (June 27, 2024): The IPO saw an overwhelming subscription of 92.01 times by the end of the final day.
Checking Allotment Status
Investors can check their allotment status through several platforms:
- Registrar’s Website (Bigshare Services Pvt Ltd): Investors can visit the Bigshare Services website and enter their PAN, application number, or DP Client ID to check their allotment status.
- Stock Exchanges (NSE and BSE): Allotment status can also be checked on the official websites of NSE and BSE by following the IPO allotment status link and entering the required details.
Company Background
Company was founded in 2007, Petro Carbon and Chemicals Limited is part of the ATHA Group. The company specializes in producing calcined petroleum coke (CPC), a crucial component in the carbon industry. Their production facility in Purba Medinipur, West Bengal, has a capacity of 93,744 tons of CPC per annum. The company’s strong production capacity and strategic location make it a significant player in the market.
Financial Performance
The financial performance of Petro Carbon and Chemicals shows steady growth:
- Revenue: ₹152.01 crores in FY 2021 to ₹515.51 crores in FY 2023.
- Net Income: Grew from ₹0.12 crores in FY 2021 to ₹70.31 crores in the first nine months of FY 2024.
Conclusion
The Petro Carbon and Chemicals IPO presents a promising investment opportunity with its strong industry presence and robust financial performance. The structured allotment ensures fair distribution among various investor categories, and the high subscription rates indicate strong market confidence in the company’s prospects.
For more detailed information, visit the official websites and follow the provided instructions to check your allotment status.
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People May Ask
What are the subscription details of the Petro Carbon and Chemicals IPO?
The IPO was highly subscribed across different investor categories:
- Day 1 (June 25, 2024): Overall subscription was 2.36 times.
- Day 2 (June 26, 2024): Overall subscription increased to 7.74 times.
- Day 3 (June 27, 2024): The IPO saw an overwhelming subscription of 92.01 times by the end of the final day.
How is the share allotment divided among different investor categories?
The share allotment is divided as follows:
- Qualified Institutional Buyers (QIB): 50% of the shares
- Non-Institutional Investors (NII): 35% of the shares
- Retail Individual Investors (RII): 15% of the shares
- Market Maker Reservation: 430,400 shares reserved for market makers
How was the price band for the Petro Carbon and Chemicals IPO?
The price band for the Petro Carbon and Chemicals IPO was set between ₹162 to ₹171 per share.
What is the minimum lot size for the Petro Carbon and Chemicals IPO?
The minimum bid lot size was 800 shares, translating to an investment range of ₹136,800 to ₹136,800 per lot.
When will the shares be credited to my Demat account?
The shares are expected to be credited to investors’ Demat accounts by July 1, 2024.
When is the listing date for the Petro Carbon and Chemicals IPO?
The shares of Petro Carbon and Chemicals are expected to be listed on the NSE Emerge on July 2, 2024.
Who are the promoters of Petro Carbon and Chemicals?
The promoters of Petro Carbon and Chemicals Limited are Kishor Kumar Atha, Dilip Kumar Atha, Gaurav Atha, Vishal Atha, and Bharat Atha.
What is the main product of Petro Carbon and Chemicals Limited?
Petro Carbon and Chemicals Limited specializes in producing calcined petroleum coke (CPC), which is crucial for the carbon industry, used in the manufacture of aluminum, steel, and various other carbon-based products.
When was the basis of allotment for the Petro Carbon and Chemicals IPO finalized?
The basis of allotment for the Petro Carbon and Chemicals IPO was finalized on June 28, 2024.