Rajputana Biodiesel IPO Day 1: Latest GMP, subscription status, listing date & other details about SME IPO

Rajputana Biodiesel IPO: The IPO of Rajputana Biodiesel, which opened for bidding on Tuesday, November 26 saw healthy investor interest, with the issue being subscribed 0.23 times as of 11:00 a.m., according to exchange data.

The retail investor segment was subscribed 0.33 times, while the non-institutional investor (NII) category received a 0.30 times subscription. Meanwhile, the qualified institutional buyer (QIB) segment did not receive any bids on Day 1 so far.

The company plans to utilise the funds raised through this issue for several key purposes. A portion of the funds will be provided as a loan to its subsidiary, Nirvaanraj Energy Private Limited (NEPL) to support capital expenditure required for expanding its existing manufacturing facility. Additionally, the funds will be used to meet the company’s working capital requirements and for general corporate purposes.

Rajputana Biodiesel issue details

1. Rajputana Biodiesel IPO date: The issue opened for subscription on Tuesday, November 26, and will conclude on Thursday, November 28.

2. Rajputana Biodiesel IPO Price: The price band of the public issue has been fixed at ₹123 to ₹130 per equity share.

3. Rajputana Biodiesel IPO Size: The company aims to raise ₹24.70 crore through the IPO, which is a fresh issue of 19 lakh shares.

4. Rajputana Biodiesel IPO Lot Size: The IPO lot size is fixed at 1000 shares, requiring a minimum investment of ₹1,30,000 for retail investors.

5. Rajputana Biodiesel IPO reservation: The IPO offers 3.45 lakh shares to qualified institutional buyers, 2.70 lakh shares to non-institutional buyers, and 6.29 lakh shares to retail investors.

6. Rajputana Biodiesel IPO allotment date: The IPO allotment date is set for Friday, November 29. Investors who receive an allotment will see the shares in their demat accounts by Monday, December 2, while those who do not will have their refunds processed on the same day.

7. Rajputana Biodieselc IPO listing: The SME IPO is proposed to list on the NSE SME on Tuesday, December 3.

8. Rajputana Biodiesel IPO GMP: According to market sources, the GMP of Rajputana Biodiesel IPO on Tuesday was ₹80, suggesting that the stock may list ₹80 above the issue price of 130, which is at ₹210.

9. Rajputana Biodiesel IPO book-running lead manager and registrar: GYR Capital Advisors Private Limited is the book-running lead manager of the Rajputana Biodiesel IPO, while Maashitla Securities Private Limited is the registrar for the issue. The market maker for Rajputana Biodiesel IPO is Giriraj Stock Broking.

10. Rajputana Biodiesel business overview: The company is engaged in the business of manufacturing and supplying biofuels and their by-products, namely glycerine and fatty acids. It has an installed production capacity of 30 kiloliters per day (klpd), as per the company DRHP report.

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