The initial public offer (IPO) of Neptune Petrochemicals received bids for 45,21,000 shares as against 42,91,000 shares on offer, as per NSE data as of 17:00 hours on Wednesday (28 May 2025). The issue was subscribed 1.06 times.
The issue opened for bidding on Wednesday (28 May 2025) and it will close on Friday (30 May 2025). The price band of the IPO is fixed between Rs 115 to Rs 122 per share. The minimum order quantity is 1,000 equity shares. The equity shares will list on NSE’s SME platform.
The IPO comprises fresh issue of 60,00,000 equity shares. The promoter and promoter group shareholding will dilute to 69.33% from 94.30% pre-issue.
About 3,01,000 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 56,99,000 equity shares including anchor allocation portion. The issue and the net issue will constitute 26.49% and 25.16% respectively of the post issue paid up equity share capital of the company.
The company intends to utilize the net proceeds for funding capital expenditure requirements towards the installation of additional plant and machinery and related infrastructure, the purchase of office space, working capital requirements, and general corporate expenses.
Ahead of the Neptune Petrochemicals on Tuesday, 27 May 2025, raised Rs 20.84 crore from anchor investors. The board has allotted 17.09 lakh shares at Rs 122 per share to 3 anchor investors.
Neptune Petrochemicals is engaged in the production, manufacturing, and trading of a comprehensive range of bitumen products, bitumen emulsions, and allied materials. With a diverse product portfolio that includes various grades of bitumen, as well as modified bitumen such as polymer modified bitumen (PMB), crumb rubber modified bitumen (CRMB), and specialized oils, the company serves a wide array of industries—particularly those in construction and industrial applications. By leveraging advanced manufacturing techniques and staying ahead of market trends, Neptune Petrochemicals delivers high-quality, customized solutions tailored to the evolving needs of the road construction and infrastructure sectors. As of 31 March 2025, the company had a total of 68 employees on payroll basis.
The company recorded revenue from operations of Rs 614.33 crore and net profit of Rs 19.47 crore for the period ended 31 December 2024.