Rajputana Biodiesel Subscription Hits 282.80x on Day 3 as of 12:50 PM

Rajputana Biodiesel IPO, one of the upcoming IPOs in India, is a book-built issue worth ₹24.70 crores. It consists of only a fresh issue of 19 lakh shares.

The price band for the IPO is ₹123 to ₹130 per share, with a minimum application lot size of 1,000 shares. Retail investors are required to invest a minimum of ₹1,30,000.

The IPO opened for subscription on November 26, 2024, and will close today on November 28, 2024. The allotment of shares is expected to be on November 29, 2024. The shares are likely to be listed on Tuesday, December 3, 2024, on the NSE SME platform.

As of November 28, 2024, 11:23 AM, Rajputana Biodiesel SME IPO GMP today is ₹100.

The company plans to use the net proceeds towards the following purposes:

• Loan to the subsidiary, Nirvaanraj Energy Private Limited for capital expenditure needs towards the expansion of their existing manufacturing facility.
• Working capital requirements of the company.
• General corporate purposes.

Rajputana Biodiesel IPO Subscription Status

• On Day 1, November 26, 2024, the IPO was subscribed 19.54 times. The retail category was subscribed 32.56x, the QIB category was subscribed 0.71x and the NII category was subscribed 13.27x.
• On Day 2, November 27, 2024, the IPO was subscribed 87.56 times. The retail category was subscribed 144.70x, the QIB category was subscribed 1.54x and the NII category was subscribed 64.37x.
• On Day 3, November 28, 2024, as of 12:50 PM, the IPO was subscribed 282.80 times. The retail category was subscribed 377.82x, the QIB category was subscribed 14.42x and the NII category was subscribed 404.38x.

About Rajputana Biodiesel Ltd

Rajputana Biodiesel is involved in the manufacturing and supplying of biofuels and their by-products, which include glycerine and fatty acids. The company plans to enhance the value of its by-products and explore export opportunities for biodiesel.

The company’s manufacturing unit is located in Rajasthan and spans 4,000 square meters. It has an installed production capacity of 30 kiloliters per day (KLPD). As of November 16, 2024, the product portfolio primarily includes biodiesel, glycerine, and fatty acids. The facility provides complete flexibility to process various feedstocks, adapting to market demands.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.