Positron Energy IPO: Price band set at ₹238 to ₹250 per share; Check issue size, key dates of SME IPO

Positron Energy IPO: The initial public offering (IPO) of small—and medium-sized enterprise (SME) Positron Energy Ltd. will open for subscription on Monday, August 12, 2024, and the price band for the issue was fixed today.

Positron Energy provides management and technical advisory for India's oil and gas industry. It offers end-to-end gas distribution solutions, including management consultancy, project management, operation and management services. The company has developed a gas aggregation business focusing on natural gas and uses common carrier pipeline networks in the market.

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Positron Energy IPO Details:

Positron Energy IPO has established a price band of ₹238 to ₹250 per share at a face value of ₹10 each for the upcoming IPO. Positron Energy IPO is a book-built issue of ₹51.21 crore. The issue comprises a fresh issue of 20.48 lakh shares and an offer for sale worth ₹0.00 crore.

The minimum lot size for an application is 600 shares, which means investors can bid for a minimum of 600 shares and in multiples thereof. The IPO has reserved 50 per cent of the net issue for qualified institutional buyers (QIBs), 35 per cent for retail investors, and 15 per cent for the non-institutional investors (NII) segment. 

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The minimum investment required by retail investors is ₹150,000. The minimum lot size investment for HNI is two lots (1,200 shares), amounting to ₹300,000. The allotment for the Positron Energy IPO is expected to be finalized on Friday, August 16, 2024. Positron Energy shares will be listed on NSE SME with a tentative date of Tuesday, August 20, 2024.

Beeline Capital Advisors Pvt Ltd is the book-running lead manager of the Positron Energy IPO; Link Intime India Private Ltd is the registrar, and Spread X Securities is the market maker. The issue proceeds from the IPO will meet the working capital requirements and general corporate purposes.

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Positron Energy Company Details

Positron Energy's IPO raised ₹14.58 crore from anchor investors. The company's promoters are Rajiv Shankarankutty Menon, Manav Bahri, and Sujit K Sugathan. It serves major oil and gas sector players, including public and private firms.

The services of the company include the following

-Project management consultation

--Operations and maintenance of CGD (city gas distribution) network

-Operations and maintenance of CNG and small-scale LNG

-Execution projects for CGD infrastructure etc.