Positron Energy IPO Day 1: Issue subscribed 9 times so far, retail investors lead; check details

The initial public offering (IPO) of Positron Energy has received a great response from investors on Monday, the first day of subscription.

The public offer has been subscribed 9.05 times. The qualified institutional buyers (QIBs) category received 60% subscription, while the non-institutional investors (NIIs) category was subscribed 5.74 times.

The part reserved for retail investors was subscribed 15.29 times.

The initial share sale, which is open for subscription from August 12 to August 14, has a price band of ₹238-₹250 per equity share.

The ₹51.21 crore IPO is solely a fresh issuance of 20.48 lakh equity shares. Investors can bid for a minimum of one lot containing 600 shares worth ₹1,42,800.

The IPO proceeds will be used to meet working capital requirements and for general corporate purposes.

The company has reserved 50% of the issue size for QIBs, 35% for retail individual investors, and 15% for NIIs.

Positron Energy IPO: Timeline

• Bidding period: August 12 to August 14
• Allotment finalisation: August 16
• Refund initiation: August 19
• Demat transfer: August 19
• Listing: August 20

About Positron Energy Limited

Positron Energy provides the oil and gas industry with comprehensive management and technical advisory services. Specialising in end-to-end solutions for gas distribution across the company, the firm excels in delivering high-quality financial, commercial, and technical advisory services.