Nexxus Petro Industries IPO Day 3: GMP, subscription status, price, other details of BSE SME IPO

Nexxus Petro Industries IPO: The initial public offering (IPO) of Nexxus Petro Industries, which deals in petrochemical products, opened for subscription on Thursday, September 26, and will remain so until Monday, September 30. With an aim to raise ₹19.43 crore, the IPO is a fresh issue of 18,50,400 shares. At the moment, investors do not appear upbeat about the issue in the grey market as the current grey market premium (GMP) of the issue is zero, indicating the stock could be listed flat at its issue price, according to investorgain.com, a portal that tracks GMP daily and based on last three days activities in the grey market.

Nexxus Petro Industries IPO subscription status

By 10:45 am on the third day of subscription on Monday, the Nexxus Petro Industries IPO had seen an overall subscription of 2.5 time. The retail portion of the issue had been subscribed 4.5 times, while the segment reserved for non-institutional investors (NIIs) was subscribed 0.44 times by that time.

Nexxus Petro Industries IPO details

1. Nexxus Petro Industries IPO GMP: According to investorgain.com, the last GMP of Nexxus Petro was zero. Considering the upper price band of the issue of ₹105 and the latest GMP, the stock is expected to be listed flat at ₹105.

2. Nexxus Petro Industries IPO date: The issue opened for subscription on Thursday, September 26, and will conclude on Monday, September 30.

3. Nexxus Petro Industries IPO price: The price of the issue has been fixed at ₹105 per equity share.

4. Nexxus Petro Industries IPO size: The company intends to raise ₹19.43 crore from the fresh issue of 18.5 lakh shares, which it will use to meet working capital requirements and general corporate purposes.

5. Nexxus Petro Industries IPO lot size: Retail investors can bid for one lot of the NSE SME IPO comprising 1,200 shares. The minimum amount required for investment is ₹1,26,000.

6. Nexxus Petro Industries IPO reservation: The IPO offers 8,78,400 shares to retail investors, and an equal number of shares are reserved for other categories.

7. Nexxus Petro Industries IPO allotment date: The company is expected to finalise share allotment on Tuesday, October 1. Successful bidders can expect shares of the company in their demat accounts on Thursday, October 3, and bidders who fail to get the allocation may get the refund on the same day.

8. Nexxus Petro Industries IPO book-running lead manager and registrar: Srujan Alpha Capital Advisors LLP is the book-running lead manager, while Kfin Technologies Limited is the official registrar of the issue.

9. Nexxus Petro Industries IPO listing: The SME IPO is proposed for listing on the BSE SME on Friday, October 4.

10. Nexxus Petro Industries business overview: According to the RHP, the company trades, manufactures, and sells petrochemical products, namely Bitumen, which is widely used in the infrastructure sector, such as the road construction industry, waterproofing, adhesives, paints and coatings and polymer modification.

For FY22, FY23 and FY24, the company earned profits of ₹54.06 lakh, ₹2.01 crore and ₹3.5 crore, respectively.

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