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Rajputana Biodiesel's IPO was met with overwhelming demand, being subscribed 645.73 times on its final day, November 28. The company aimed to raise Rs 24.70 crore, with total bids reaching Rs 11,626 crore for 13.85 lakh shares. In the grey market, shares traded at a premium exceeding 75% over the upper price band.
Rajputana Biodiesel's IPO saw robust demand, achieving full subscription on its first day, November 26, with bids totaling 16.53 times the offer. The company is raising Rs 24.70 crore by offering 19 lakh equity shares at a revised price band of Rs 123-130 per share. Retail investors led the interest, bidding 31.1 times their quota, while non-institutional investors subscribed 13.16 times. The funds will support the expansion of manufacturing facilities and working capital needs.
Rajputana Biodiesel is set to launch its IPO on November 26, aiming to raise Rs 24.7 crore with a price band of Rs 125-130 per share. The offer includes a fresh issue of 19 lakh equity shares and will close on November 28, with trading on NSE Emerge starting December 3. The allocation includes 50% for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors, with retail participants allowed to bid for a minimum of 1,000 shares, capped at Rs 2 lakh.
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