Rajputana Biodiesel IPO To Open on November 26

Rajputana Biodiesel Ltd. was established in 2016 as an Indian company dedicated to producing biodiesel from raw materials like animal fat, cooking oil, and vegetable oil. Its primary objective is to promote renewable energy and reduce dependence on fossil fuels. The company generates high-quality biodiesel with a low carbon footprint that adheres to international standards. Innovators Mr Sarthak Soni, Mr Tanay Attar, and Mr Sudeep contribute significant expertise and experience to guide the company’s strategic initiatives. To secure additional funding, the company plans to launch an initial public offering (IPO) of Rs 24.70 crores, which will be a completely new issue.

Rajputana Biodiesel draft for the IPO

The Rajputana Biodiesel IPO is set to begin on November 26, 2024, and will conclude on November 28, 2024. This IPO is categorized as a Book Built Issue, with the company aiming to raise approximately Rs. 24.70 crores through a fresh issue totalling Rs. 24.70 crores, in addition to an offer for sale (OFS) of up to [.] equity shares, each having a face value of Rs.10.

The price range for the Rajputana Biodiesel IPO is between Rs. 125 and Rs. 130 per share. The allocation for retail investors is 35%, for Qualified Institutional Buyers (QIB) is 50%, and for High Net-worth Individuals (HNI) is 15%. The shares of Rajputana Biodiesel are expected to be listed on the NSE on December 3, 2024, with the allotment date set for November 29, 2024.

Rajputana Biodiesel revenue 

The company announced revenue of Rs. 53.68 crores in 2024, compared to Rs. 23.54 crores in 2023. It also reported a profit of Rs. 4.52 crores in 2024, up from a profit of Rs. 1.69 crores in the previous year. Additionally, in 2024, the company acquired a 75.21% stake in its subsidiary, Nirvaanraj Energy Private Limited, located in Meerut. Furthermore, in 2024, revenue increased by 128%, while profit after tax (PAT) rose by 168%.

Promotors 

The promotors behind the company are Mr Sarthak Soni, Mr Tanay Attar, Mr Sudeep Soni, and Mrs Madhuri Surana.

Objective of IPO

Providing a loan to its subsidiary, Nirvaanraj Energy Pvt Ltd (NEPL), to support the expansion of its existing unit, alongside meeting working capital requirements and funding general corporate purposes.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.