Rajputana Biodiesel’s share price made a remarkable debut on the NSE SME market on Tuesday, December 3. The stock was offered for ₹247, which was 90 percent more than the issue price of ₹130. Shortly after the listing, it continued to rise and hit its upper circuit at ₹259.35. Between its opening on Tuesday, November 26 and its close on Thursday, November 28, the ₹25 crore book-built issue received about 719 subscriptions. There were 1,346 subscriptions for the non-institutional buyer component and 747 for the retail component.
IPO Subscription and Market Performance
The IPO grey market premium (GMP) for Rajputana Biodiesel showed a 23% possible listing gain, indicating that investors had strong interest prior to listing. With the shares listing at ₹247 and rising to ₹259.35 on listing day, the stock’s performance confirmed this prediction and demonstrated substantial investor interest and a successful market debut.
Rajputana Biodiesel IPO Details
The Rajputana Biodiesel initial public offering (IPO), which was available for subscription from November 26 to November 28, attracted a significant amount of interest from investors. The three-day bidding session saw nearly 719 subscriptions to the issue. At 1,346 times, the category for non-institutional investors (NIIs) had the highest subscription rate, while the portion designated for regular investors had about 747 times the bid.
The category for qualified institutional buyers (QIBs) received over 177 subscriptions. The Rajputana Biodiesel IPO was a fully book-built offering that only included newly issued shares totaling 19 lakh. The lot size for each application was 1,000 shares, and the price range for the issue was set at ₹123–130 per share.
About Rajputana Biodiesel Ltd.
Rajputana Biodiesel Ltd. was established in 2016 and specializes in the production and distribution of biofuels and their byproducts, such as fatty acids and glycerine. The product portfolio of the company comprises bio-diesel, crude glycerine, caustic potash flakes, waste sludge, used cooking oil, esterified fatty acid, methanol, citric acid, refined rice oil, crude sunflower oil and sodium methoxide, among others.
