Shubhshree Biofuels Energy makes strong debut, shares list at 58% premium on NSE SME

Shares of Shubhshree Biofuels Energy Limited made a strong debut on the NSE SME platform, Emerge, on Monday, September 16.

More than 5.95 lakh shares changed hands on the NSE. The total trading value stood at ₹11.14 crore.

The minimum bidding quantity for Shubhshree Biofuels Energy IPO was 1200 shares, successful bidders who were allotted shares in the primary issue would have made a profit of at least ₹84,000 (₹70 x 1,200) as soon as the stock started trading on the exchange.

Shubhshree Biofuels Energy IPO details

The subscription window for Shubhshree Biofuels Energy IPO was open for subscription from September 9 to September 11. Shubhshree Biofuels Energy share allotment status was finalised on September 12.

The NSE SME issue saw strong subscription in its three-day bidding period as the initial public offer was booked 132.97 times across categories. The IPO was booked 246.1 times in the Non-institutional investors (NIIs) category. In the retail category the NSE SME issue was booked 135.65 times. The Qualified institutional Buyers’ (QIBs) portion was booked 31.32 times.

Shubhshree Biofuels Energy IPO was worth ₹16.56 crore. The book-built issue consisted of an entirely fresh issue of 13.92 lakh shares. Shubhshree Biofuels Energy IPO price band was fixed at ₹113 to ₹119 per share.

Shubhshree Biofuels Energy plans to use the money raised via the public issue for the installation of additional plants and machinery. A portion of the proceeds will also be used for meeting working capital requirements and for general corporate purposes.

Shubhshree Biofuels Energy Limited was established in 2013. The company is a supplier of biomass fuels in the form of biomass pellets and briquettes. The company’s customers are mainly from Northern India, from states such as Haryana, Uttar Pradesh and Rajasthan. The company employed 26 people as of March 30, 2024.