Nexxus Petro Industries IPO Subscription Status

Nexxus Petro Industries' initial public offering (IPO) has garnered moderate investor interest, with subscription rates increasing steadily over the three-day period. Starting modestly on day one, the IPO witnessed a gradual increase in demand, resulting in a 2.64 times oversubscription by 11:17:13 AM on day three. This response indicates a fair market appetite for Nexxus Petro Industries' shares and sets the stage for its potential listing.

The IPO, which opened on 26th September 2024, has seen growth in investor participation, primarily driven by Retail Investors. Nexxus Petro Industries attracted bids for 46,34,400 equity shares amounting to ₹48.66 crore.

The Retail Investors segment has shown strong demand, while Non-Institutional Investors (NII) have shown limited interest. 

Subscription Status of Nexxus Petro Industries IPO for Days 1, 2, and 3:

Note: Market Maker portion is not included in NII/HNI.

Here are the subscription details for Nexxus Petro Industries IPO as of Day 3 (30th September 2024, 11:17:13 AM):

Total Applications: 11,880

Note: The total amount is calculated based on the upper price of the issue price range.

Key Highlights:

• Nexxus Petro Industries IPO is currently subscribed 2.64 times, with strong demand from Retail Investors.
• Retail investors have shown significant interest, with a subscription ratio of 4.82 times.
• Non-Institutional Investors (NII) have demonstrated limited enthusiasm, with a subscription ratio of 0.46 times.
• The overall subscription trend increases day-on-day, indicating growing investor interest towards the issue.

Nexxus Petro Industries IPO - Day 2 Subscription at 1.70 Times

Key Highlights:

• On Day 2, Nexxus Petro Industries' IPO was subscribed 1.70 times, with strong demand from Retail Investors.
• Retail investors showed increased interest with a subscription ratio of 3.15 times.
• Non-Institutional Investors (NII) showed minimal interest, with a subscription ratio of 0.26 times.
• The overall subscription trend indicated building momentum, with the retail category showing significantly increased participation.

Nexxus Petro Industries IPO - Day 1 Subscription at 0.70 Times

Key Highlights:

• On Day 1, Nexxus Petro Industries' IPO was subscribed 0.70 times, with initial demand primarily from Retail Investors.
• Retail investors showed early interest with a subscription ratio of 1.30 times.
• Non-Institutional Investors (NII) showed minimal initial interest with a subscription ratio of 0.10 times.
• The first-day response laid a foundation for the remaining days of the IPO, with expectations of increased participation in the following days.

About Nexxus Petro Industries Limited:

Nexxus Petro Industries Limited, incorporated in October 2021, is a manufacturer and trader of petrochemical products specialising in bitumen products. The company distributes high-quality bitumen, bitumen emulsions, and special bituminous allied products to infrastructure and construction companies, government agencies, and road authorities. With BIS and ISO certifications, Nexxus Petro operates three manufacturing units across Gujarat, Rajasthan, and Madhya Pradesh. The company has shown significant growth, with revenue increasing by 67% to ₹238.38 crore in FY 2024 and PAT rising by 73% to ₹3.48 crore. Key financial indicators include an ROE of 61.77% and a PAT margin of 1.47%. As of September 2024, the company employed 17 permanent staff. Despite operating in a highly fragmented market, Nexxus Petro's focus on product quality, strategic factory locations, and strong supplier relationships position it in the competitive petrochemical sector.

Read more about Nexxus Petro Industries IPO

Highlights of the Nexxus Petro Industries IPO:

• IPO Date: 26th September 2024 to 30th September 2024
• Listing Date: 4th October 2024 (Tentative)
• Face Value: ₹10 per share
• Price: ₹105 per share (Fixed Price Issue)
• Lot Size: 1200 Shares
• Total Issue Size: 1,850,400 shares (aggregating up to ₹19.43 Cr)
• Fresh Issue: 1,850,400 shares (aggregating up to ₹19.43 Cr)
• Issue Type: Fixed Price Issue IPO
• Listing At: BSE SME
• Book Running Lead Manager: Srujan Alpha Capital Advisors Llp
• Registrar: Kfin Technologies Limited
• Market Maker: Gretex Share Broking