Nexxus Petro Industries is scheduled to hit the market on September 26, 2024 and close on September 30, 2024. Nexxus Petro Industries plans to raise around ₹19.43 Cr through an IPO with a sale of up to 1,850,400 equity shares of ₹10 each. The Retail offered 50%, Other Shares Offered 50%.
Nexxus Petro Industries Limited was started in October 2021 and focuses on trading, making, and selling petrochemical products, especially bitumen. The company produces high-quality bitumen, bitumen emulsions, and other related products for infrastructure and construction companies, government agencies, and road authorities. Nexxus is certified by BIS and ISO, ensuring its products meet high standards. With upgraded processing units, the company has increased its production capacity and improved product quality, attracting more customers with its positive service.
The company has three manufacturing units located in Gujarat, Rajasthan, and Madhya Pradesh, and as of September 2024, it employs 17 permanent staff. Its strengths include an experienced management team overseeing daily operations, strong relationships with suppliers for business growth, and well-equipped factories in Kutch (Gujarat), Pali (Rajasthan), and Bhopal (Madhya Pradesh) that use modern machines and advanced processes.
Nexxus Petro Industries IPO Details
Nexxus Petro Industries IPO opens on September 26, 2024, and closes on September 30, 2024. The Listing date for Nexxus Petro Industries IPO is on October 04, 2024. The price band for IPO is ₹105 per share and lot size of 1200 Shares.
| IPO Date | September 26, 2024 to September 30, 2024 |
| Listing Date | October 04, 2024 |
| Price | ₹105 per share |
| Lot Size | 1200 Shares |
| Issue Size | ₹19.43 Cr |
| Face Value | ₹10 per share |
Nexxus Petro Industries IPO Tentative Timetable
Nexxus Petro Industries opening date is September 26, 2024 and close date is September 30, 2024. The IPO allotment date is October 01, 2024. Therefund initiation of IPO is on October 03, 2024. The credit of shares in demat account is on October 03, 2024. The listing date is on October 04, 2024.
| Event | Date |
|---|---|
| IPO Opening | September 26, 2024 |
| IPO Closing | September 30, 2024 |
| IPO Allotment Date | October 01, 2024 |
| Refund Initiation | October 03, 2024 |
| Shares Credit to Demat | October 03, 2024 |
| Lisiting Date | October 04, 2024 |
Nexxus Petro Industries IPO Lot Size
Lot Size of this IPO is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or ₹126,000).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 1200 | ₹126,000 |
| Retail(Maximum) | 1 | 1200 | ₹126,000 |
| HNI (Minimum) | 2 | 2400 | ₹252,000 |
Nexxus Petro Industries IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding |
Nexxus Petro Industries IPO Review
The company is launching its first IPO, offering 1,850,400 equity shares priced at Rs. 10 each. The shares will be sold at a fixed price of Rs. 105 each to raise Rs. 19.43 crore.
Here’s a simplified version of the financial performance details:
Over the last three financial years, the company has reported total income and net profit as follows:
- FY22: Total Income – Rs. 48.47 crore, Net Profit – Rs. 0.54 crore
- FY23: Total Income – Rs. 142.84 crore, Net Profit – Rs. 2.01 crore
- FY24: Total Income – Rs. 238.38 crore, Net Profit – Rs. 3.49 crore
The average Earnings Per Share (EPS) for these three years is Rs. 7.42, and the average Return on Net Worth (RoNW) is 78.68%. The issue is priced at a Price to Book Value (P/BV) of 6.20 based on its Net Asset Value (NAV) of Rs. 16.93 as of March 31, 2024. However, the offer document does not provide NAV data after the IPO.
If we consider FY24 earnings on the fully diluted equity capital after the IPO, the asking price results in a Price to Earnings (P/E) ratio of 20.96. Based on FY23 earnings, the P/E ratio is 36.33, which suggests that the issue is priced quite high.
For the reported periods, the company has shown Profit After Tax (PAT) margins of:
- FY22: 1.12%
- FY23: 1.41%
- FY24: 1.47%
The Return on Capital Employed (RoCE) margins for these years are:
- FY22: 18.16%
- FY23: 30.73%
- FY24: 20.81%
Overall, the company's financial performance shows growth, but the pricing appears to be on the higher side when compared to earnings.
This is the sixth mandate from Srujan Alpha in the last three financial years, including the current one. Out of the five listings so far, one opened at a discount, two at the same value, and the others opened with premiums between 0.125% and 32.5% on the day they were listed.
The company is involved in trading and making bitumen, which is a product from oil. This market is very competitive and divided among many players. The company has shown growth in both its sales and profits recently. However, the offer document has some unusual points. Based on the earnings for FY24, the price of the shares seems very high. The small amount of paid-up equity suggests it might take longer to move to the main stock exchange. It might be better to avoid this expensive offer, which comes with high risks and low returns.
Nexxus Petro Industries IPO Subscription Status (Bidding Details)
Table not foundNexxus Petro Industries IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Nexxus Petro Industries IPO FAQs
What is Nexxus Petro Industries IPO?
Nexxus Petro Industries is issuing 1,850,400 equity shares with a face value of ₹10 each, totaling up to ₹19.43 Cr. The shares are being offered at a price of ₹105 each, with a minimum order quantity of 1200 shares.
Kfin Technologies Limited is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Nexxus Petro Industries will open?
Nexxus Petro Industries will open on September 26, 2024 for QIB, NII, and Retail Investors.
When Nexxus Petro Industries IPO will end?
Nexxus Petro Industries will end on September 30, 2024.
What is Nexxus Petro Industries IPO Size?
Nexxus Petro Industries IPO size is ₹19.43 Cr.
What is Nexxus Petro Industries IPO Price Band?
Nexxus Petro Industries price band is ₹105 per share.
What is Nexxus Petro Industries IPO Allotment Date?
Nexxus Petro Industries allotment date is October 01, 2024.
What is Nexxus Petro Industries IPO Listing Date?
Nexxus Petro Industries listing date is October 04, 2024. The IPO is to be listed on BSE and NSE.
How to Nexxus Petro Industries IPO through Zerodha?
To apply for the IPO “Nexxus Petro Industries” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Nexxus Petro Industries IPO through Upstox?
To apply for the IPO “Nexxus Petro Industries” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Nexxus Petro Industries IPO Allotment Status?
For Nexxus Petro Industries IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Nexxus Petro Industries IPO GMP?
You can check out here: Nexxus Petro Industries IPO GMP. Check all IPO GMP here.