Rajputana Biodiesel Subscription Hits 42.22x on Day 2 as of 12:15 PM

Rajputana Biodiesel IPO, one of the upcoming IPOs in India is a book-built issue worth ₹24.70 crores, consisting entirely of 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 need to invest a minimum of ₹1,30,000 to participate in the IPO.

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

As of November 27, 2024, 9:24 AM, Rajputana Biodiesel SME IPO GMP today is ₹95.

The company plans to utilise the net proceeds towards:

• Loan to the subsidiary, Nirvaanraj Energy Private Limited for capital expenditure requirements towards the expansion of their existing manufacturing facility
• Funding 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, as of 12:15 PM, the IPO was subscribed 42.22 times. The retail category was subscribed 72.34x, the QIB category was subscribed 0.71x and the NII category was subscribed 25.07x.

About Rajputana Biodiesel Ltd

Rajputana Biodiesel is engaged in the manufacturing and supply of biofuels and their by-products, including glycerine and fatty acids. The company aims to enhance the value of its by-products and explore export opportunities for biodiesel.

Its manufacturing facility, located in Rajasthan, spans 4,000 square meters and 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 offers 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.