Rajputana Biodiesel is scheduled to finalize the basis of allotment of its shares on Friday, November 29. Bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate by the weekend of latest by Monday, December 02. The biofuels player's SME issue saw a bumper response from the investors during the three-day bidding.
The IPO of Jaipur-based Rajputana Biodiesel was open for bidding between November 26-28. It had offered its shares in the price band of Rs 123-130 per share with a lot size of 1,000 shares. The company raised a total of Rs 24.70 crore from its IPO, which was entirely a fresh share sale of 19,00,000 equity shares.
However, anchor investors subscribed to 5,15,000 equity shares or 27.11 per cent of the issue. The remaining net issue including 13,85,000 equity shares (72.89 per cent of the issue), asking for Rs 18 crore was overall booked a whopping 718.81 times during the three-day bidding process. As per the subscription figures, the net issue saw bids worth Rs 12,940 crore.
On an individual basis, the portion for non-institutional investors (NIIs) was booked 1,345.95 times, while the allocation for retail investors was subscribed an astounding 746.57 times. The portions allocated for qualified-institutional bidders (QIBs) fetched 177.38 times during the bidding.
Grey market premium (GMP) of Rajputana Biodiesel has seen a sharp rise following a bumper response from all the categories investors. Last heard, the company was commanding a premium of Rs 100 in the unofficial market, suggesting a listing pop of up to 77 per cent for the investors. The GMP stood at Rs 70-80 before the bidding kicked off.
Founded in 2016, Rajputana Biodiesel produces and supplies biofuels and their by-products, namely glycerine and fatty acids. Its production facility is located at G24 RIICO Industrial Area, Phulera, Rajasthan 303338 in an area of 4,000 square meters. It has an approved production capacity of 30 kiloliters per day (kl/pd) and an installed production capacity of 24 kiloliters per day.
Rajputana Biodiesel's product portfolio includes Biodiesel, Crude Glycerin, Caustic Potash Flakes, Waste Sludge, Used Cooking Oil, Esterified Fatty Acid, Methanol, Citric Acid, Refined Rice Oil, Crude Sunflower Oil, Sodium Methoxide, RBD Palm Stearin, Job Work: semi-refining of glycerine for other manufacturers, and Fats. It had 30 permanent employees as of July 31, 2024.
GYR Capital Advisors is the book running lead manager of the Rajputana Biodiesel IPO, while Maashitla Securities is the registrar for the issue. The market maker for Rajputana Biodiesel IPO is Giriraj Stock Broking. Shares of the company will list on NSE Emerge platform on Tuesday, December 3.
Investors, who had bid for the issue of Rajputana Biodiesel, can check the allotment status on the National Stock Exchange (NSE) website:
1) Visit https://www.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp
2) Sign up with all the requisite details if you are not register already.
3) Log in with your username and password.
4) Check I am not a robot.
5) Ensure IPO bid details column is checked.
6) Select the symbol/company in the dropdown.
7) Check your PAN number and enter your application number.
8) Hit the 'get data' button and get your allotment status.
Investors can also check the allotment status on the online portal of Maashitla Securities (https://maashitla.com/allotment-status/public-issues), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. It is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries post issue.
1) Go to the web portal of Maashitla Securities Pvt Ltd.
2) Select the IPO/FPO in dropbox whose name will be populated only if the allotment is finalized.
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) Hit submit.