Positron Energy makes strong debut on NSE SME platform as shares list at 90% premium

Positron Energy, incorporated in 2008, provides management and technical advisory services to the oil and gas industry in India.

Positron Energy Ltd's shares made a remarkable debut on the NSE SME platform on August 20, listing at Rs 475 apiece, a 90 percent premium over the issue price of Rs 250.

The IPO, which was a book-built issue totaling Rs 51.21 crore, included a fresh issue of 20.5 lakh shares.

The bidding for the Positron Energy IPO commenced on August 12 and concluded on August 14. The allotment of shares was finalised on August 16.

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The price band for the IPO was set at Rs 238 to Rs 250 per share, with a minimum lot size of 600 shares. This required retail investors to make a minimum investment of Rs 1.5 lakh, while High Net-Worth Individuals (HNIs) needed to invest Rs 3 lakh for a minimum of two lots.

The IPO was subscribed 414.9 times by the end of the bidding process. The retail category was booked 351.9 times, the Qualified Institutional Buyers (QIB) category 231.4 times, and the Non-Institutional Investors (NII) category 805.8 times.

The funds raised from the fresh issue will be utilised primarily to meet working capital requirements and for general corporate purposes, the company said. The IPO raised Rs 14.6 crore from anchor investors on August 9.

Also Read | Positron Energy IPO subscribed 386 times, Sunlite Recycling Industries issue booked 262x on final day

Beeline Capital Advisors Pvt Ltd acted as the book-running lead manager for the IPO, while Link Intime India Pvt Ltd served as the registrar.

Positron Energy, incorporated in 2008, provides management and technical advisory services to 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 services. It has also developed a gas aggregation business focusing on natural gas, utilising common carrier pipeline networks within the Indian market.

The company's revenue increased by 160 percent to Rs 135.4 crore and profit after tax (PAT) surged by 313 percent to Rs 8.8 crore for the financial year ended March 31, 2024.

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