Mumbai (Maharashtra) [India], August 8: Positron Energy Limited, engaged in the Management & Technical Advisory Services of Oil and Gas Industry, has announced its plan to go public with an Initial Public Offering (IPO) on August 12, 2024. The company is aiming to raise ₹ 51.21 Crores at the upper band through this IPO, with shares set to be listed on the NSE Emerge platform.
● Total Issue Size – 20,48,400 Equity Shares of ₹ 10 each
● Issue Size – ₹ 51.21 Crores (At Upper Band)
● Price Band – ₹ 238 – ₹ 250 Per Share
● Lot Size – 600 Equity Shares
The issue size is Up To 20,48,400 equity shares at face value of ₹ 10 each.
- Equity Share Allocation
- QIB Anchor Portion – Not more than 5,83,200 Equity Shares
- Qualified Institutional Buyers (QIB) – Not More than 3,88,800 Equity Shares
- Non-Institutional Investors (NII) – Not Less than 2,92,200 Equity Shares
- Retail Individual Investors (RII) – Not Less than 6,81,600 Equity Shares
- Market Maker – 1,02,600 Equity Shares
The net proceeds from the IPO will be utilized to meet working capital requirements, and general corporate purposes. The bidding for Anchor portion will open on August 09, 2024, the issue will open for subscription for all other category from August 12, 2024 and closes on August 14, 2024.
The Book Running Lead Manager to the Issue is Beeline Capital Advisors Private Limited. The Registrar to the Issue is Link Intime India Private Limited.
Mr. Rajiv Shankarankutty Menon, Managing Director of Positron Energy Limited expressed, “Our dedication to providing comprehensive solutions for gas distribution and management consultancy services has established Positron Energy Limited as a distinguished leader in the oil and gas sector. Our services are consistent round the year. We are a quality conscious company. We are constantly striving to expand our service portfolio and we always look forward to complementing projects of our clients. Our Company has entered into collaboration agreement with ICOM North America LLC (New Hudson, MI) for installation of ICOM Dual Fuel LNG conversion systems in on-road trucks weighing over 3.5 tons in India. The new system will result in reduction in emissions with the utilization of LNG contributing to environmental sustainability. The dual-fuel system allows for cost-effective operation with the flexibility of fuel ratios. The fund raised will be primarily used for funding of working capital requirement.”
operating conditions, ensuring optimal performance and reliability. We are currently in the process of obtaining technical approvals from the Automotive Research Association of India (ARAI).
If you have any objection to this press release content, kindly contact [email protected] to notify us. We will respond and rectify the situation in the next 24 hours.
