● Total Issue Size – 20,48,400 Equity Shares of ₹ 10 each
● Issue Size – ₹ 51.21 Crores (At Upper Band)
● Price Band – ₹ 238 – ₹ 250 Per Share
● Lot Size – 600 Equity Shares
Mumbai, August 06, 2024 – Positron Energy Limited, engaged in the Management & Technical Advisory Services of Oil and Gas Industry, has announced its plan to go public with an Initial Public Offering (IPO) on August 12, 2024. The company is aiming to raise ₹51.21 Crores at the upper band through this IPO, with shares set to be listed on the NSE Emerge platform.
The issue size is Up To 20,48,400 equity shares at face value of ₹ 10 each.
Equity Share Allocation
● QIB Anchor Portion – Not more than 5,83,200 Equity Shares
● Qualified Institutional Buyers (QIB) – Not More than 3,88,800 Equity Shares
● Non-Institutional Investors (NII) – Not Less than 2,92,200 Equity Shares
● Retail Individual Investors (RII) – Not Less than 6,81,600 Equity Shares
● Market Maker – 1,02,600 Equity Shares
The net proceeds from the IPO will be utilized to meet working capital requirements, and general corporate purposes. The bidding for Anchor portion will open on August 09, 2024, the issue will open for subscription for all other category from August 12, 2024 and closes on August 14, 2024.
The Book Running Lead Manager to the Issue is Beeline Capital Advisors Private Limited. The Registrar to the Issue is Link Intime India Private Limited.
Mr. Rajiv Shankarankutty Menon, Managing Director of Positron Energy Limited expressed, “Our dedication to providing comprehensive solutions for gas distribution and management consultancy services has established Positron Energy Limited as a distinguished leader in the oil and gas sector. Our services are consistent round the year. We are a quality conscious company. We are constantly striving to expand our service portfolio and we always look forward to complementing projects of our clients. Our Company has entered into collaboration agreement with ICOM North America LLC (New Hudson, MI) for installation of ICOM Dual Fuel LNG conversion systems in on-road trucks weighing over 3.5 tons in India. The new system will result in reduction in emissions with the utilization of LNG contributing to environmental sustainability. The dual-fuel system allows for cost-effective operation with the flexibility of fuel ratios. The fund raised will be primarily used for funding of working capital requirement.”
operating conditions, ensuring optimal performance and reliability. We are currently in the process of obtaining technical approvals from the Automotive Research Association of India (ARAI).
Positron Energy Limited specializes in Management & Technical Advisory Services for the Oil and Gas Industry, offering end-to-end gas distribution solutions to industries across India. Positron services encompass commercial and financial advisory, project management, and O&M services. Founded by industry veterans Rajiv Menon, Manav Bahri, and Sujit K Sugathan, Positron Energy leverages over 45 years of combined experience to deliver comprehensive solutions for gas distribution across India. The company have developed a significant gas aggregation business volume of approximately 35 MMSCM, primarily in natural gas, with distribution facilitated through common carrier pipeline networks. Positron handles a daily portfolio of 4000-5000 MMBTU (As at March 31, 2024) of gas, sourcing on-demand and managing long-term contracts with our customers.
In FY24, The Company Achieved a Revenue of ₹ 13,473.25 Lakhs, EBITDA of ₹ 1,204.27Lakhs, & PAT of ₹ 878.78 Lakhs
Disclaimer:
Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
