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Business News/ Markets / Ipo/  Arabian Petroleum shares list with over 10% premium at 77.4 apiece on NSE SME
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Arabian Petroleum shares list with over 10% premium at ₹77.4 apiece on NSE SME

Arabian Petroleum IPO is entirely a fresh issue of 28.92 lakh shares aggregating to ₹20.24 crore. The IPO price was ₹70 per share and the minimum lot size was 2,000 shares.

Arabian Petroleum IPO bidding started from September 25, 2023 and ended on September 27, 2023. (Image: Company Website)Premium
Arabian Petroleum IPO bidding started from September 25, 2023 and ended on September 27, 2023. (Image: Company Website)

Arabian Petroleum IPO LIsting: Arabian Petroleum made a decent stock market debut on Monday in an otherwise weak market. Arabian Petroleum shares were listed at 77.40 apiece on NSE SME, a premium of 10.57% to the issue price of 70 per share.

Arabian Petroleum IPO had received strong response from investors as the issue was subscribed 19.91 times during the subscription period. The public issue was subscribed by a robust 23.19 times in the retail category and 15.72 times in the Other category.

Read here: Arabian Petroleum IPO Day 3: Issue subscribed 20 times on last day; retail portion booked 23x

Arabian Petroleum IPO bidding started from September 25, 2023 and ended on September 27, 2023. 

Arabian Petroleum IPO is entirely a fresh issue of 28.92 lakh shares aggregating to 20.24 crore. The IPO price was 70 per share and the minimum lot size was 2,000 shares.

Arabian Petroleum IPO allotment was finalized on October 5, 2023.

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Hem Securities Limited is the book running lead manager of the Arabian Petroleum IPO, while Purva Sharegistry India Pvt Ltd is the IPO registrar.

Arabian Petroleum manufactures a wide range of lubricants including Specialty Oils, Coolants, etc., which are used for application in automobiles and industrial machines and appliances.

The company intends to utilize the net proceeds from the issue towards the funding working capital requirements and general corporate purpose.

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Published: 09 Oct 2023, 10:00 AM IST
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