Petro Carbon IPO Details
Subscription Period: The subscription for the Petro Carbon and Chemicals IPO began on Tuesday, June 25, and will close on Thursday, June 27.
Lot Size and Price: Each lot consists of 800 shares. The price band for the IPO is set between ₹162 and ₹171 per share, with a face value of ₹10.
Company Overview:
- Parent Company: Petro Carbon and Chemicals Limited is part of the ATHA Group, a diverse business conglomerate.
- Business Focus: The company specializes in manufacturing and marketing Calcined Petroleum Coke, primarily serving B2B clients. Key customers include aluminum manufacturers, graphite electrode producers, titanium dioxide manufacturers, and other companies in the metallurgical, chemical, and steel industries.
Financial Performance: From March 31, 2022, to March 31, 2023, the company’s profit after tax (PAT) increased by 17.8%, while revenue grew by 84.92%.
IPO Subscription Status:
- Day 1 Subscription: 83% subscribed, with the retail portion at 1.16 times, Non-Institutional Investors (NII) at 1.09 times, and Qualified Institutional Buyers at 5%.
- Bids Received: 35,74,400 shares were bid for against 43,32,000 shares on offer by 15:11 IST on the first day.
IPO Size and Structure:
- Total Value: ₹113.16 crore
- Offer Type: Completely an offer-for-sale (OFS) by the promoter shareholders (Kishor Kumar Atha, Dilip Kumar Atha, Gaurav Atha, Vishal Atha, and Bharat Atha).
IPO Objectives: The primary goals are to list the equity shares on stock exchanges and enable the selling shareholders to offload their shares.
Key Stakeholders:
- Registrar: Bigshare Services Pvt Ltd
- Book Running Lead Manager: GYR Capital Advisors Private Limited
- Market Maker: Giriraj Stock Broking
Grey Market Premium (GMP):
- Current GMP: +₹110, suggesting the shares are trading at a premium of ₹110 in the grey market.
- Expected Listing Price: Considering the upper price band and current GMP, the expected listing price is around ₹281 per share, a 64.33% increase from the IPO price of ₹171.
Peer Comparison:
- Listed Peers: Goa Carbon Ltd (P/E ratio of 8.76) and India Carbon Ltd (P/E ratio of 13.85).
Disclaimer: Investors are advised to consult certified experts before making any investment decisions.
