Positron Energy sizzles on listing

Shares of Positron Energy were trading at Rs 498.75 on the NSE, a premium of 99.50% compared with the issue price of Rs 250.

The scrip was listed at Rs 475, a premium of 90% over the initial public offer (IPO) price. The stock was frozen in its upper limit of 5% over its listing price.

The counter hit a high of Rs 498.75 and a low of Rs 475. About 2.63 lakh shares of the company changed hands at the counter.

Positron Energy's IPO was subscribed 276.01 times. The issue opened for bidding on 12 August 2024 and it closed on 14 August 2024. The price band of the IPO was set at Rs 238 to Rs 250 per share.

 

The IPO comprised fresh issue of 20,48,400 shares. The promoter and promoter group shareholding diluted to 72% from 98.56% pre-IPO.

The company intends to utilise the net proceeds for working capital requirements and general corporate purposes.

Ahead of the IPO, Positron Energy on 9 August 2024, raised Rs crore from anchor investors. The board allotted 5.83 lakh shares at Rs 250 per share to 10 anchor investor.

Positron Energy engaged in Management & Technical Advisory Services of Oil and Gas Industry. It provides end to end solutions for Gas distribution to the industries across India. It also provides management consultancy services like commercial and financial advisory, technical services including project management and O&M (Operation and Management) Services, across the Gas Sector in India. It has successfully developed a Gas aggregation business volume of 35 MMSCM (approx), especially Natural Gas. The company has 124 employees

The company recorded revenue from operations of Rs 134.73 crore and net profit of Rs 8.78 crore for the period as on 31 March 2024.

Powered by Capital Market - Live News