Petro Carbon and Chemicals Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | June 25, 2024 to June 27, 2024 |
| Listing Date | - |
| Face Value | ₹ 10 per share |
| Price Band | ₹ 162 to ₹ 171 per share |
| Lot Size | 800 Shares |
| Total Issue Size | 66,17,600 shares (aggregating up to ₹ 113.16 Cr) |
| Offer for Sale | 66,17,600 shares of ₹10 (aggregating up to ₹ 113.16 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 2,47,00,000 |
| Market Maker portion | 4,30,400 shares |
About Petro Carbon and Chemicals Limited IPO
PCCL’s business model is fundamentally a B2B model wherein they majorly supply their end product CPC, to the renowned, aluminium manufacturing government companies, graphite electrodes and titanium dioxide manufacturers as well as other users in the metallurgical, chemical industries and other steel manufacturing companies. PCCL’s plant has been operational since the year 1975, wherein the detailed engineering and layout of the plant was done by Engineers India Limited. This plant was later acquired, revamped and upgraded by their group in the year of 2008.
Petro Carbon and Chemicals IPO is a book-built issue of Rs 113.16 crores. The issue is entirely an offer for the sale of 66.18 lakh shares. Petro Carbon and Chemicals IPO opens for subscription on June 25, 2024 and closes on June 27, 2024. Petro Carbon and Chemicals IPO price band is set at ₹162 to ₹171 per share. The minimum lot size for an application is 800 Shares. GYR Capital Advisors Private Limited is the book-running lead manager of the Petro Carbon and Chemicals IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
Petro Carbon and Chemicals IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Petro Carbon and Chemicals IPO Anchor Investors Details
| Bid Date | June 24, 2024 |
| Shares Offered | 1,855,200 |
| Anchor Portion Size (In Cr.) | 31.72 |
| Anchor lock-in period end date for 50% shares (30 Days) | July 28, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | September 26, 2024 |
Company & Financials
Petro Carbon and Chemicals Limited, an ATHA Group company, was founded in 2007 and is engaged in the production of calcined petroleum coke (CPC) for the carbon industry. The company produces calcined petroleum coke, commonly known as CPC, from raw petroleum coke (RPC), also known as green petroleum coke, for use in the manufacture and production of aluminium, steel and various other carbon-based products. The company's production facility is located in Purba Medinipur, West Bengal, and has a capacity of around 93,744 tons of CPC per annum; the plant is spread over an area of around 30 acres. The company employs around 74 people at various levels in the areas of production, maintenance, marketing, sales, administration and corporate services. In addition, the company employs around 290 contract workers at its current production facility.
Objectives of Petro Carbon and Chemicals IPO
The objectives of the Offer are to:
- 1. Achieve the benefits of listing the Equity Shares on the Stock Exchanges.
- 2. Carry out the Offer for Sale of up to Equity Shares by the Selling Shareholders.
Petro Carbon and Chemicals IPO Review
The company is engaged in the manufacturing and marketing of CPC in the carbon industry. Its financial performance has many surprises for the reported periods, which are presumed as accounting tactics. Hefty net profit for 9M-FY24 raises eyebrows. Based on annualized FY24 earnings, the issue appears lucratively priced, but based on FY23 earnings, it is exorbitantly priced. What is more, it is a pure secondary offer and no funds are going to the company. There appears to be some window dressing to fetch fancy valuations for the IPO. Only well-informed investors may park moderate funds for the medium term.
Petro Carbon and Chemicals Limited IPO Financial Information
Latest Revenue
35,197.68
₹ Crore
Profit After Tax
5,028.58
₹ Crore
Net Worth
8,781.39
₹ Crore
Total Borrowing
12,412.94
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 2023 | 32,390.89 | 35,197.68 | 5,028.58 | 8,781.39 | 12,412.94 | ||||
| 31 Mar 2023 | 26,379.12 | 51,760.99 | 672.65 | 3,752.81 | 17,582.78 | ||||
| 31 Mar 2022 | 27,703.56 | 27,990.70 | 570.99 | 3,080.17 | 19,418.00 | ||||
| 31 Mar 2021 | 15,992.29 | 15,528.68 | 11.64 | 2,509.17 | 8,182.43 | ||||
| Amount in ₹ Crore | |||||||||
Petro Carbon and Chemicals Limited Key Performance Indicator
| KPI | Values |
|---|---|
| ROCE | 60.36% |
| Debt/Equity | 0.54 |
| RoNW | 66.00% |
| PAT Margin (%) | 15.78 |
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Competitive Strengths
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Petro Carbon and Chemicals Limited IPO Timeline
| IPO Open Date | Tuesday, June 25, 2024 |
| IPO Close Date | Thursday, June 27, 2024 |
| Basis of Allotment | Friday, June 28, 2024 |
| Initiation of Refunds | Monday, July 1, 2024 |
| Credit of Shares to Demat | Monday, July 1, 2024 |
| Listing Date | Tuesday, July 2, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 27, 2024 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 800 | ₹136,800 |
| Retail (Max) | 1 | 800 | ₹136,800 |
| HNI (Min) | 2 | 1600 | ₹273,600 |