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The initial public offer (IPO) of Petro Carbon and Chemicals received bids for 87,26,400 as against 66,17,600 shares on offer, as per NSE data as of 17:00 hours on Tuesday, (24 June 2024). The issue was subscribed 1.31 times.
The issue opened for bidding on Tuesday, (24 June 2024) and it will close on Thursday, (27 June 2024). The price band of the IPO is fixed at Rs 161 to 171 per share. The minimum order quantity is 800 equity shares. The equity shares are proposed to be listed on the SME platform of NSE.
The entire IPO comprises of OFS of upto 66,17,600 equity shares. The promoters, Kishor Kumar Atha, Dilip Kumar Atha, Gaurav Atha, Vishal Atha, Bharat Atha proposes to sell 13,23,520 shares each in OFS.
Ahead of the IPO, Petro Carbon and Chemicals on Monday, 24 June 2024, raised Rs 31.72 crore from anchor investors. The board allotted 18.55 lakh shares at Rs 171 per share to 5 anchor investors.
Petro Carbon and Chemicals (PCCL) is a ATHA Group company engaged in the business of manufacturing and marketing of Calcined Petroleum Coke (CPC). The company’s business model is fundamentally a B2B model wherein we majorly supply our end product CPC, to the renowned, aluminum manufacturing government companies, graphite electrodes and titanium dioxide manufacturers as well as other users in the metallurgical, chemical industries and other steel manufacturing companies. As on 31 December 2023, the company has 73 employees.
The company recorded revenue from operations of Rs 445.70 crore and net profit of Rs 70.31 crore for the period as on 31 December 2023.
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