Neptune Petrochemicals IPO Subscribed 389% on Final Day; Strong FII and HNI Demand Powers Oversubscription
By Ankur Chandra | Updated at: May 31, 2025 10:45 PM IST
Ahmedabad, May 30 – The SME IPO of Neptune Petrochemicals Limited closed on a high note, receiving an overall subscription of 3.89 times (389%) on the final day of bidding. Backed by strong participation from foreign institutional investors (FIIs) and non-institutional investors (HNIs), the issue attracted bids for over 1.67 crore shares against the offer size of 42.91 lakh shares.
The ₹122-crore public issue, entirely a fresh offer of 60,00,000 equity shares, was open from May 28 to May 30, 2025, with a price band of ₹115–₹122.
Final Day Subscription Summary (as of 4:48 PM, May 30)
| Category | Applications | Shares Bid | Subscription (x) |
|---|---|---|---|
| Qualified Institutional Buyers | 11 | 81,16,000 | 1.89× (based on est.) |
| Non-Institutional Investors | 2,553 | 85,96,000 | 2.00× (based on est.) |
| Total | 2,564 | 1,67,12,000 | 3.89× (389%) |
Retail investor data was not provided separately. However, strong individual investor demand is evident under the NII subcategory.
Bid Trends by Price Level
Investor appetite remained robust across the band, with most demand anchored at or near the floor price:
| Bid Price (₹) | Shares Bid For |
|---|---|
| 115 | 1,67,12,000 |
| 116 | 1,66,88,000 |
| 118 | 1,66,86,000 |
| 120 | 1,66,80,000 |
| 122 | 1,66,74,000 |
IPO Snapshot
| Detail | Information |
|---|---|
| IPO Symbol | NEPTUNE |
| Issue Period | May 28 – May 30, 2025 |
| Price Band | ₹115 – ₹122 |
| Face Value | ₹10 per share |
| Issue Size | 60,00,000 shares (Fresh Issue) |
| Market Maker | Spread X Securities Pvt. Ltd. |
| Anchor Allocation | 17,09,000 shares |
| Listing Exchange | NSE SME (Emerge) |
| Lead Manager | Beeline Capital Advisors Pvt. Ltd. |
| Registrar | MUFG Intime India Pvt. Ltd. |
| UPI Mandate Deadline | May 30, 2025, 4:00 PM |
Company Profile
Founded in 2021, Neptune Petrochemicals is engaged in manufacturing and trading of bitumen, emulsions, and other petroleum derivatives. It operates three manufacturing units in Gujarat, Haryana, and Assam, serving infrastructure and road construction clients.
Financial Highlights (9M FY25)
- Revenue: ₹62,016.47 lakh
- PAT: ₹1,946.59 lakh
- EPS: ₹12.26 (non-annualized)
- Net Worth: ₹6,122.67 lakh
What’s Next?
With bidding concluded and strong oversubscription, investors can now await the basis of allotment, likely to be finalized early next week. Shares are expected to list on NSE Emerge as per the T+3 listing timeline, potentially offering a strong debut given the robust demand across investor segments.
REF:https://www.nseindia.com/market-data/issue-information?symbol=NEPTUNE&series=SME&type=Active
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