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24 September 2024

Nexxus Petro Industries Limited IPO, GMP, Details, Price, And Review

Originally incorporated on October 5, 2011, as a private limited company named Nexxus Petro Industries Private Limited, with registration number 126116, the company was later converted to a public limited company named M/s. Nexxus Petro Industries Limited, on July 18, 2023, under the Companies Act provision. The fresh certificate of incorporation was issued by the Registrar of the Company on July 18, 2023, with its Central Registration Centre vide CIN No.U50400GJ2021PLC126116.

Before the company's incorporation, the promoters carried on similar business in promoter group entities named Nexxus Petro Products LLP and Nexxus Petro Energy LLP. After Nexxus Petro Industries Limited's incorporation, the entire business gradually shifted towards it.

The company's registered office is located at B-811 Swati Trinity, Applewood Township Sanathal Sanand, Sarkhej, Ahmedabad, Dascroi, Gujarat, India, 382210.

Nexxus Petro Industries IPO Overview:

● Issue Type: Fixed Price Issue
● Total Issue Size: ₹19.43 crores
● Fresh Issue: 18.5 lakh shares

Important Dates

● Opening Date: September 26, 2024
● Closing Date: September 30, 2024

Pricing Details

● Issue Price ₹105 per share
● Minimum Lot Size: 1,200 shares

Key Participants

● Book Running Lead Manager: Srujan Alpha Capital Advisors LLP
● Registrar: Kfin Technologies Limited
● Market Maker: Gretex Share Broking

Nexxus Petro Industries Limited IPO And GMP

WHAT IS GMP?

GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.

A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.

Nexxus Petro Industries Limited IPO GMP

GMP Date	IPO Price	GMP	Last Updated
	105	-

**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**

Nexxus Petro Industries IPO Overview

Detail	Description
IPO Date	September 26, 2024 to September 30, 2024
Listing Date	[.]
Face Value	₹10 per share
Price	₹105 per share
Lot Size	1200 Shares
Total Issue Size	1,850,400 shares (aggregating up to ₹19.43 Cr)
Fresh Issue	1,850,400 shares (aggregating up to ₹19.43 Cr)
Issue Type	Fixed Price Issue IPO
Listing At	BSE SME
Shareholding pre issue	5,100,000
Shareholding post issue	6,950,400
Market Maker portion	93,600 shares Gretex Share Broking

Nexxus Petro Industries IPO Timeline (Tentative Schedule)

Detail	Description
IPO Open Date	Thursday, September 26, 2024
IPO Close Date	Monday, September 30, 2024
Basis of Allotment	Tuesday, October 1, 2024
Initiation of Refunds	Thursday, October 3, 2024
Credit of Shares to Demat	Thursday, October 3, 2024
Listing Date	Friday, October 4, 2024
Cut-off time for UPI mandate confirmation	5 PM on September 30, 2024

Nexxus Petro Industries Limited IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	1200	₹126,000
Retail (Max)	1	1200	₹126,000
HNI (Min)	2	2,400	₹252,000

Nexxus Petro Industries Limited IPO Reservation

Investor Category	Shares Offered
Retail Shares Offered	50% of the Net Issue
Other Shares Offered	50% of the Net Issue

Nexxus Petro Industries IPO Promoter Holding

Share Holding Pre Issue	100.00%
Share Holding Post Issue

Company & Financials

Incorporated in October 2011, the company remained involved in manufacturing, trading, and the sale of the petrochemical products, in particular the bitumen products. Nexxus Petro Industries Limited produces as well as distributes the higher quality bitumen & bitumen emulsions apart from the special bituminous allied products for government agencies, infrastructure and construction companies, road authorities, and also the bitumen industry. Currently, the company has 3 manufacturing units in Madhya Pradesh, Rajasthan, and Gujarat.

Nexxus Petro Industries Limited is ISO and BIS-certified for its processes and products. The company upgraded the processing unit, thereby boosting the production capacity as well as the product quality. As for the company’s positive approach towards the clients, it helped it to have increased customers.

Competitive Strengths:

● Experienced Management Team which looks after the day-to-day operations of the company.
● Strong supplier relationships help the business grow.
● Factories located in Kutch, Gujarat, Pali, Rajasthan, and Bhopal, Madhya Pradesh, which are all well-equipped with modern machines and the needed advanced processes.

Nexxus Petro Industries Limited Financial Information

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	3,892.55	1,644.96	932.77
Revenue	23,837.57	14,283.95	4,847.02
Profit After Tax	348.47	200.87	54.06
Net Worth	863.4	264.93	54.06
Reserves and Surplus	353.4	254.93	54.06
Total Borrowing	2,161.43	835.1	369.83
Amount in ₹ Lakhs

Key Performance Indicator

KPI	Values
ROE	61.77%
ROCE	20.81%
Debt/Equity	2.5
RoNW	40.36%
P/BV	6.2
PAT Margin (%)	1.47

	Pre IPO	Post IPO
EPS (Rs)	6.83	5.01
P/E (x)	15.37	20.94

Objectives of Nexxus Petro Industries IPO

The fresh issue net proceeds of the company has been proposed to be used for,

1. Funding company working capital requirements.

2. General corporate purposes.

Nexxus Petro Industries IPO Review

The company is engaged in trading and manufacturing of bitumen (a petrohem product), which is a highly competitive and fragmented segment. The company posted growth in its top and bottom lines for the reported periods. The offer document has a few anomalies. Based on FY24 earnings, the issue appears to be aggressively priced. Small paid-up equity capital indicates longer gestation for migration to the mainboard. There is no harm in skipping this pricey “High Risk/Low Return” offer.

FAQs for Nexxus Petro Industries IPO

Which IPO is being launched by Nexxus Petro Industries?

The company is launching an SME IPO that will be listed on the NSE. It is expected to raise ₹19.43 Crores through the issue that’s priced at ₹105 per equity share.
When does the subscription for Nexxus Petro Industries IPO open?

The subscription for the QIB, NII, and Retail Investors opens on September 26, 2024, and closes on September 30, 2024.
What is Nexxus Petro Industries IPO Investors Portion?

The investors’ portion for QIB is 00%, NII is 50%, and Retail is 50%.
What is the issue size of Nexxus Petro Industries IPO?

₹19.43 Crores is Nexxus Petro Industries IPO issue size.
What is the Price Band for Nexxus Petro Industries IPO?

₹105 is the Price Band for Nexxus Petro Industries IPO.
What is the lot size of Nexxus Petro Industries IPO?

1200 Shares with ₹126,000 amount is the lot size.
What is the Allotment date for Nexxus Petro Industries IPO?

October 1, 2024, is the allotment date for Nexxus Petro Industries IPO.
What is the listing date for the Nexxus Petro Industries IPO?

October 7, 2024, is the listing date for Nexxus Petro Industries. The IPO will be listed on the NSE.
What is Nexxus Petro Industries current GMP?

The current GMP of Nexxus Petro Industries is ---.