Neptune Petrochemicals share price makes a decent debut, stock opens with a mere 8.81% premium at ₹132.75 apiece

Neptune Petrochemicals share price made a positive debut on NSE SME today. Neptune Petrochemicals share price today opened at ₹132.75, which is 8.81% higher than the issue price of ₹122.

The initial public offering (IPO) of Neptune Petrochemicals had a subscription period that ran from Wednesday, May 28 until Friday, May 30. With a face value of ₹10, shares in the Neptune Petrochemicals IPO was priced at ₹122. At least 1,000 of those shares are up for bid, and there are multiples of those shares available. Neptune Petrochemicals IPO subscription status was 4.11 times on the last day of bidding.

Neptune Petrochemicals Limited produces and sells a variety of bitumen products and emulsions. Its product range includes different types of bitumen such as polymer-modified and crumb-rubber-modified bitumen.

The company caters to various industries, mainly focusing on construction and industrial sectors. It operates three manufacturing facilities: Unit I located in Ahmedabad, Gujarat, Unit II in Panipat, Haryana, and Unit III in Kamrup, Assam.

Additionally, the company trades in bitumen and fuel oils, partnering with trusted suppliers to guarantee quality and fulfill customer requirements. Neptune adheres to international standards and implements critical procedures to ensure the production of high-quality and innovative products. The company exports its products to Nepal and Bhutan while also selling within India.

Neptune Petrochemicals IPO details

The Neptune Petrochemicals IPO, valued ₹73.20 crore, includes a fresh issuance of 60,00,000 equity shares with a face value of ₹10. There is no "offer for sale" component.

Neptune Petrochemicals IPO aims to allocate the net proceeds from the offering to various purposes, including financing capital expenditure for the installation of new plant and machinery along with associated infrastructure; acquiring office space; covering working capital needs; and addressing general corporate expenses.

Beeline Capital Advisors Pvt Ltd serves as the book-running lead manager for the IPO of Neptune Petrochemicals, whereas MUFG Intime India Private Limited (Link Intime) functions as the registrar for the offering.

Neptune Petrochemicals IPO GMP today

Neptune Petrochemicals IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹122 with no premium or discount in the grey market according to investorgain.com

'Grey market premium' indicates investors' readiness to pay more than the issue price.'

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