Rajputana Biodiesel anchor investors have been allocated 5,15,000 equity shares at a price band of INR 103 per share in a board meeting held on 25 November 2024. This strategic move aims to bolster investor confidence and ensure a successful public offering.
Rajputana Biodiesel Anchor Investors Allocations
The allocation of shares to anchor investors was made in consultation with GYR Capital Advisors Private Limited, who acted as the Book Running Lead Managers for this offer. The details of the allocations are as follows:
| Anchor Investor | No. of Equity Shares Allocated | % of Anchor Investor Portion | Bid Price (INR) |
|---|---|---|---|
| HDFC Bank Limited | 80,000 | 15.53 | 130 |
| Finavenue Capital Trust – Finavenue Growth Fund | 80,000 | 15.53 | 130 |
| Mint Focused Growth Fund – Cell 1 | 1,15,000 | 22.34 | 130 |
| Nine Alps Trust – Nine Alps Opportunity Fund | 2,40,000 | 46.60 | 130 |
| Total | 5,15,000 | 100.00 |
This allocation highlights the strong interest from institutional investors in Rajputana Biodiesel’s upcoming IPO.
Regulatory Compliance
In accordance with the SEBI (Issue of Capital and Disclosure Requirements) Regulations, any difference between the offer price discovered through the book-building process and the anchor investor allocation price will need to be settled by the anchor investors. This ensures transparency and adherence to regulatory standards.
Company Overview
Rajputana Biodiesel is a leading manufacturer and supplier of biofuels and their by-products, including glycerine and fatty acids. The company’s manufacturing facility, located in Phulera, Rajasthan, spans 4,000 square meters and boasts an approved production capacity of 30 kiloliters per day (KLPD) and an installed capacity of 24 LPD. This flexible facility allows for the processing of various feedstocks to meet market demands.
Rajputana Biodiesel is committed to maximizing the value of its by-products and exploring export opportunities for its biodiesel. The company secures orders through a combination of bidding processes conducted by government PSUs and targeted marketing efforts directed at private clients.
Rajputana Biodiesel IPO subscription started on 26 November 2024 and will close on 28 November 2024. Rajputana Biodiesel plans to raise INR 24.70 crores via IPO. The price band is fixed at INR 123 – 130 per share. Rajputana Biodiesel IPO market lot has 1000 shares and the minimum application amount is INR 1,30,000.
Read Also: Rajputana Biodiesel IPO GMP, Review, Price, Allotment
Investor Allocation
Rajputana Biodiesel’s IPO requires a minimum bid of 1,000 shares, with additional shares available in multiples of 1,000. The company employs a book-building process to allocate shares, prioritizing qualified institutional buyers (50%), non-institutional investors (15%), and retail individual bidders (35%). This allocation strategy, in compliance with SEBI guidelines, aims to broaden investor participation and make the IPO accessible to both large-scale and retail investors.
The news of a healthy allocation to Rajputana Biodiesel Anchor Investors is a further plus point for the upcoming IPO which is already quoting at a premium in the IPO grey market.
Also Read: Rajputana Biodiesel IPO Subscription Status
