ENA MSME 2024-12-03 16:31:40 <p><strong>New Delhi, Dec 3 (KNN) </strong>Rajputana Biodiesel experienced a remarkable initial public offering (IPO) on the National Stock Exchange (NSE) Small and Medium Enterprises (SME) platform on Tuesday, December 3, achieving a stellar market entry with its share price listing at a notable 90 percent premium. </p> <p>The stock opened at Rs 247, significantly higher than its issue price of Rs 130, and quickly advanced to its upper circuit at Rs 259.35.</p> <p>The public issue, which was open for subscription from November 26 to November 28, demonstrated extraordinary investor interest, securing an unprecedented overall subscription of 719 times. </p> <p>The retail segment was particularly compelling, attracting 747 times subscription, while the non-institutional segment saw an even more robust 1,346 times subscription.</p> <p>The IPO structure comprised 3.45 lakh shares allocated to qualified institutional buyers, 2.70 lakh shares for non-institutional investors, and 6.29 lakh shares dedicated to retail investors. </p> <p>The price band was set between Rs 123 and Rs 130 per equity share, with the allotment finalised on November 29.</p> <p>Strategic financial planning underpins the company's capital raising objectives. </p> <p>A substantial portion of the net proceeds will be channeled as a loan to its subsidiary, Nirvaanraj Energy Private Limited (NEPL), to support capital expenditure for manufacturing facility expansion. </p> <p>The remaining funds are earmarked for working capital requirements and general corporate purposes.</p> <p>Specialising in biofuels production, Rajputana Biodiesel manufactures and supplies biofuels alongside by-products such as glycerine and fatty acids. </p> <p>The company's current installed production capacity stands at 30 kilolitres per day, as detailed in its Draft Red Herring Prospectus (DRHP).</p> <p><strong>(KNN Bureau)</strong></p> 40125 https://knnindia.co.in/news/newsdetails/msme/rajputana-biodiesel-makes-strong-debut-on-nse-sme-platform-with-90-pc-premium 2024-12-03 16:31:40 knnindia.co.in