Positron Energy IPO booked nearly 30 times on day 2: Check price band, lot size, and other key details

Positron Energy IPO continues to see strong demand from investors across categories on the second day of bidding on Tuesday, August 13. The NSE SME public offer was fully subscribed within hours of launch on Monday.

According to NSE data, Positron Energy Limited's initial public offering was subscribed 29.7 times on the second day of bidding until 11:30 am. The IPO received bids for over 4.04 crore shares against 13.62 lakh shares on offer.

Retail individual investors applied for over 3.16 crore shares against 6.81 lakh shares set aside for the category, booking the portion 46.41 times.

The non-institutional investors (NIIs) category was booked 23.82 times with bids for more than 69.59 lakh shares compared to 2.92 lakh shares on offer for the segment.

The qualified institutional buyers (QIBs) placed bids for 18.76 lakh shares against 3.88 lakh shares aside for the category, booking the portion 4.82 times.

The ₹51.21-crore public offer is open for subscription from August 12 to August 14.

Positron Energy IPO price band, lot size and other details

Positron Energy IPO is a book-building issue comprising a fresh issue of 20.48 lakh shares.

Positron Energy IPO price band has been fixed at ₹238 to ₹250 per share. Retail investors interested in applying for the Positron Energy IPO can place bids for a minimum lot size of 1 lot or 600 shares, which aggregates to an investment of ₹1,50,000. High-net-worth individuals (HNIs) can place bids for a minimum lot size of 2 lots or 1,200 shares, which aggregates to an investment of ₹3,00,000.

Positron Energy IPO dates

Positron Energy IPO subscription is open from Monday, August 12, to Wednesday, August 14. The IPO share allotment status is expected to be finalised on Friday, August 16. Refunds will be initiated for unsuccessful bidders on Monday, August 19, and shares of Positron Energy will be credited into the Demat accounts of successful bidders on the same day. Shares of Positron Energy Ltd will be listed on the NSE SME platform, Emerge. The tentative listing date for Positron Energy IPO has been fixed as August 20.

Positron Energy key financials

Positron Energy’s revenue increased over 160% to ₹135.41 crore in the fiscal year ended March 31, 2024, from ₹52.02 crore in March 31, 2023. The company’s Profit-After-Tax (PAT) surged more than 314% to ₹8.78 crore in FY24 compared to ₹2.12 crore in FY23. The company’s net worth for FY24 grew 163% to ₹14.89 crore compared to ₹5.66 crore in FY23.

Positron Energy promoters

The promoters of Positron Energy are Rajiv Shankarankutty Menon, Manav Bahri, and Sujit K Sugathan. Before the issue, the promoters held a 98.56% stake in the company. After the public issue, their stake will reduce to 72%.

Positron Energy IPO: Registrar

Beeline Capital Advisors Pvt Ltd is the book-running lead manager for the Positron Energy IPO. Link Intime India Private Ltd is the registrar, and Spread X Securities is the market maker for the issue.

Positron Energy IPO: Objectives

Positron Energy IPO plans to use the money raised via the public issue for meeting working capital requirements and other general corporate purposes.

About Positron Energy

Positron Energy was incorporated in 2008. Positron Energy provides management and technical advisory for the oil and gas industry in India. The company offers end-to-end gas distribution solutions, including management consultancy, project management, and operation and management (O&M) services.