Nexxus Petro Industries IPO: BSE SME issue booked 70%, retail portion fully booked; check day 1 subscription status

Nexxus Petro Industries Limited IPO saw lukewarm demand on the first day of subscription. The BSE SME issue was booked only 70% across investor categories, while the retail portion of the IPO was fully subscribed.

As per the BSE data at the end of bidding at 5 pm on day 1, Nexxus Petro Industries IPO received bids for over 12.31 lakh shares against the 17.56 lakh shares on offer.

The retail category led the demand with applications for 11.43 lakh shares of the company against the 8.78 lakh shares set aside for the category. The issue was booked 1.3 times in the retail segment.

The Non-Institutional Investors (NIIs) placed bids for 87,600 shares against the 8.78 lakh shares reserved for them, booking their quota by 9.9%.

Nexxus Petro Industries IPO: Offer size and price band

The company's IPO, a fixed price public offer of ₹19.43 crore, consists of an entirely fresh issue of 18.5 lakh shares.

Retail investors interested in applying for the company's IPO can place bids for a minimum lot size of 1,200 shares, which aggregates to an investment of ₹1,26,000. High Networth Individuals (HNIs) can apply for the IPO by bidding for a minimum of two lots or 2,400 shares, which amounts to an investment of ₹2,52,000.

Nexxus Petro Industries IPO allotment status and listing date

The subscription window for the IPO opened today, September 26. The three-day bidding window is slated to close on Monday, September 30. The share allotment status of the IPO is likely to be decided on Tuesday, October 1.

Subsequent to the allotment of shares, refunds will be initiated for unsuccessful bidders on Thursday, October 3, and successful bidders will receive shares in their Demat accounts the same day. Shares of the company will list on the BSE SME platform. The tentative listing date for the IPO has been fixed as October 4.

Nexxus Petro Industries IPO registrar

Srujan Alpha Capital Advisors LLP is the book-running lead manager for the Nexxus Petro Industries IPO. The registrar for the BSE SME issue is Kfin Technologies Limited and the market maker is Gretex Share Broking.

Nexxus Petro Industries: Key financials

In FY24, Nexxus Petro Industries’ revenue increased by more than 66% to ₹238.37 crore compared to ₹142.83 crore in FY23. The company’s profit-after-tax grew 74% to ₹3.48 crore in FY24 against ₹2 crore in FY23. Its net worth grew over 226% to ₹8.63 crore compared to ₹2.64 crore in FY23.

Nexxus Petro Industries IPO objective

The company plans to use the money raised via the public issue for funding its working capital requirements and general corporate purposes.

About Nexxus Petro Industries Limited

Nexxus Petro Industries Private Limited was incorporated in October 2021. The company is engaged in the trading, manufacturing and selling of bitumen products. The company’s range of products includes various grades of bitumen. Bitumen is a sticky, black, and highly viscous liquid derived from petroleum. It caters to the needs of companies engaged in road construction. The company has three manufacturing units located in Gujarat, Rajasthan and Madhya Pradesh.