Nexxus Petro Industries Limited IPO, GMP, Details, Price, And Review IPO Details
| Detail | Description |
|---|---|
| IPO Date | September 26, 2024 to September 30, 2024 |
| Listing Date | [.] |
| Face Value | ₹ 10 per share |
| Price | ₹ 105 per share |
| Lot Size | 1,200 Shares |
| Total Issue Size | 18,50,400 shares (aggregating up to ₹ 19.43 Cr) |
| Fresh Issue | 18,50,400 shares (aggregating up to ₹ 19.43 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Shareholding pre issue | 51,00,000 |
| Shareholding post issue | 69,50,400 |
| Market Maker portion | 93,600 shares Gretex Share Broking |
About Nexxus Petro Industries Limited IPO, GMP, Details, Price, And Review
Originally incorporated on October 5, 2011, as a private limited company named Nexxus Petro Industries Private Limited, with registration number 126116, the company was later converted to a public limited company named M/s. Nexxus Petro Industries Limited, on July 18, 2023, under the Companies Act provision. The fresh certificate of incorporation was issued by the Registrar of the Company on July 18, 2023, with its Central Registration Centre vide CIN No.U50400GJ2021PLC126116.
Before the company's incorporation, the promoters carried on similar business in promoter group entities named Nexxus Petro Products LLP and Nexxus Petro Energy LLP. After Nexxus Petro Industries Limited's incorporation, the entire business gradually shifted towards it.
The company's registered office is located at B-811 Swati Trinity, Applewood Township Sanathal Sanand, Sarkhej, Ahmedabad, Dascroi, Gujarat, India, 382210.
Nexxus Petro Industries IPO Overview:
• Issue Type: Fixed Price Issue
• Total Issue Size: ₹19.43 crores
• Fresh Issue: 18.5 lakh shares
Important Dates
• Opening Date: September 26, 2024
• Closing Date: September 30, 2024
Pricing Details
• Issue Price ₹105 per share
• Minimum Lot Size: 1,200 shares
Key Participants
• Book Running Lead Manager: Srujan Alpha Capital Advisors LLP
• Registrar: Kfin Technologies Limited
• Market Maker: Gretex Share Broking
Nexxus Petro Industries Limited IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the Net Issue |
| Other Shares Offered | 50% of the Net Issue |
Company & Financials
Incorporated in October 2011, the company remained involved in manufacturing, trading, and the sale of the petrochemical products, in particular the bitumen products. Nexxus Petro Industries Limited produces as well as distributes the higher quality bitumen & bitumen emulsions apart from the special bituminous allied products for government agencies, infrastructure and construction companies, road authorities, and also the bitumen industry. Currently, the company has 3 manufacturing units in Madhya Pradesh, Rajasthan, and Gujarat.
Nexxus Petro Industries Limited is ISO and BIS-certified for its processes and products. The company upgraded the processing unit, thereby boosting the production capacity as well as the product quality. As for the company’s positive approach towards the clients, it helped it to have increased customers.
Nexxus Petro Industries IPO Review
The company is engaged in trading and manufacturing of bitumen (a petrohem product), which is a highly competitive and fragmented segment. The company posted growth in its top and bottom lines for the reported periods. The offer document has a few anomalies. Based on FY24 earnings, the issue appears to be aggressively priced. Small paid-up equity capital indicates longer gestation for migration to the mainboard. There is no harm in skipping this pricey “High Risk/Low Return” offer.
Nexxus Petro Industries Limited IPO, GMP, Details, Price, And Review Financial Information
Latest Revenue
23,837.57
₹ Crore
Profit After Tax
348.47
₹ Crore
Net Worth
863.4
₹ Crore
Total Borrowing
2,161.43
₹ Crore
| Period Ended | Assets | Total Income | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2024 | 3,892.55 | 23,837.57 | 348.47 | 863.4 | 2,161.43 | ||||
| 31 Mar 2023 | 1,644.96 | 14,283.95 | 200.87 | 264.93 | 835.1 | ||||
| 31 Mar 2022 | 932.77 | 4,847.02 | 54.06 | 54.06 | 369.83 | ||||
| Amount in ₹ Crore | |||||||||
Nexxus Petro Industries Limited IPO, GMP, Details, Price, And Review Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 61.77% |
| ROCE | 20.81% |
| Debt/Equity | 2.5 |
| RoNW | 40.36% |
| P/BV | 6.2 |
| PAT Margin (%) | 1.47 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 6.83 | 5.01 |
| P/E (x) | 15.37 | 20.94 |
Frequently Asked Questions
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Competitive Strengths
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Nexxus Petro Industries Limited IPO, GMP, Details, Price, And Review IPO Timeline
| IPO Open Date | Thursday, September 26, 2024 |
| IPO Close Date | Monday, September 30, 2024 |
| Basis of Allotment | Tuesday, October 1, 2024 |
| Initiation of Refunds | Thursday, October 3, 2024 |
| Credit of Shares to Demat | Thursday, October 3, 2024 |
| Listing Date | Listing Date |
| Cut-off time for UPI mandate confirmation | 5 PM on September 30, 2024 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹126,000 |
| Retail (Max) | 1 | 1200 | ₹126,000 |
| HNI (Min) | 2 | 2,400 | ₹252,000 |