ENA Sectors 2024-08-20 15:14:26 <p><span style="font-size:14px"><strong>New Delhi, Aug 20 (KNN)</strong> In a stunning market debut, Positron Energy's shares listed on the National Stock Exchange's (NSE) Small and Medium Enterprise (SME) platform at a premium of 90 per cent on Tuesday.</span></p> <p><span style="font-size:14px">The stock opened at Rs 475, significantly higher than its issue price of Rs 250 per share.</span></p> <p><span style="font-size:14px">The initial public offering (IPO) of Positron Energy, which consisted of a fresh equity sale of 20.48 lakh shares, garnered overwhelming investor interest. The issue was oversubscribed by more than 400 times, with non-institutional investors showing particularly strong demand.</span></p> <p><span style="font-size:14px">Prior to the listing, the grey market premium (GMP) for Positron Energy shares stood at 280, indicating high expectations for the company's market performance.</span></p> <p><span style="font-size:14px">Positron Energy plans to utilise the net proceeds from the public offer to fund working capital requirements, capital expenditure, and other general corporate purposes.</span></p> <p><span style="font-size:14px">The company specialises in management and technical advisory services for the oil and gas industry, providing end-to-end solutions for gas distribution to industries across India.</span></p> <p><span style="font-size:14px">With a focus on natural gas, Positron Energy has successfully developed a gas aggregation business volume of approximately 35 MMSCM. The company's technical qualifications and empanelment with numerous industrial customers underscore its reliability and competence in the sector.</span></p> <p><span style="font-size:14px">India's oil and gas industry, one of the country's eight core industries, plays a crucial role in shaping the economy.</span></p> <p><span style="font-size:14px">The sector is expected to attract USD 25 billion in exploration and production investments by 2022, with plans to expand India's position as a refining hub.</span></p> <p><span style="font-size:14px">For the fiscal year ended March 2024, Positron Energy reported total revenues of Rs 134 crore and a net profit of Rs 8.78 crore, reflecting the company's strong financial performance.</span></p> <p><span style="font-size:14px">The impressive listing of Positron Energy highlights the growing investor interest in India's energy sector and the potential for SMEs in this space.</span></p> <p><span style="font-size:14px">As the country continues to focus on expanding its oil and gas infrastructure, companies like Positron Energy are well-positioned to capitalise on the sector's growth opportunities.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 39002 https://knnindia.co.in/news/newsdetails/sectors/positron-energy-soars-90-on-nse-sme-debut 2024-08-20 15:14:26 knnindia.co.in