Positron Energy’s initial public offering (IPO) has received an extraordinary response from investors, with the issue subscribed 34.79 times on the second day of bidding. The IPO, which aims to raise Rs 51.21 crore, comprises a fresh issue of 20.48 lakh shares.
The price band for the IPO is set between Rs 238 and Rs 250 per share, with investors able to apply for a minimum of 600 shares. The issue has seen robust demand from qualified institutional buyers (5.35 times), non-institutional investors (26.66 times), and retail investors (55.06 times).
Positron Energy Ltd., established in 2008, specializes in providing comprehensive management and technical advisory services in the oil and gas industry, focusing on gas distribution solutions. The company plans to utilize the IPO proceeds to meet working capital requirements, support expansion plans, and enhance operational capabilities.
The IPO is scheduled to close on August 14, with share allotment expected to be finalized on August 16. The shares will be listed on the NSE SME platform, with a tentative listing date of August 20.
