Petro Carbon and Chemicals IPO is a book built issue of Rs 113.16 crores. The issue is entirely an offer for sale of 66.18 lakh shares.
Petro Carbon and Chemicals IPO opens for subscription on June 25, 2024 and closes on June 27, 2024. The allotment for the Petro Carbon and Chemicals IPO is expected to be finalized on Friday, June 28, 2024. Petro Carbon and Chemicals IPO will list on NSE SME with tentative listing date fixed as Tuesday, July 2, 2024.
Petro Carbon and Chemicals IPO price band is set at ₹162 to ₹171 per share. The minimum lot size for an application is 800 Shares. The minimum amount of investment required by retail investors is ₹136,800. The minimum lot size investment for HNI is 2 lots (1,600 shares) amounting to ₹273,600.
GYR Capital Advisors Private Limited is the book running lead manager of the Petro Carbon and Chemicals IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Petro Carbon and Chemicals IPO is Giriraj Stock Broking.
Refer to Petro Carbon and Chemicals IPO RHP for detailed information.
Petro Carbon and Chemicals IPO Details
| IPO Date | June 25, 2024 to June 27, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹162 to ₹171 per share |
| Lot Size | 800 Shares |
| Total Issue Size | 6,617,600 shares (aggregating up to ₹113.16 Cr) |
| Offer for Sale | 6,617,600 shares of ₹10 (aggregating up to ₹113.16 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 24,700,000 |
| Market Maker portion | 430,400 shares Giriraj Stock Broking |
Petro Carbon and Chemicals IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Petro Carbon and Chemicals IPO Anchor Investors Details
Petro Carbon and Chemicals IPO raises Rs 31.72 crore from anchor investors. Petro Carbon and Chemicals IPO Anchor bid date is June 24, 2024.
| Bid Date | June 24, 2024 |
| Shares Offered | 1,855,200 |
| Anchor Portion Size (In Cr.) | 31.72 |
| Anchor lock-in period end date for 50% shares (30 Days) | July 28, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | September 26, 2024 |
Petro Carbon and Chemicals IPO Timeline (Tentative Schedule)
Petro Carbon and Chemicals IPO opens on June 25, 2024, and closes on June 27, 2024.
| IPO Open Date | Tuesday, June 25, 2024 |
| IPO Close Date | Thursday, June 27, 2024 |
| Basis of Allotment | Friday, June 28, 2024 |
| Initiation of Refunds | Monday, July 1, 2024 |
| Credit of Shares to Demat | Monday, July 1, 2024 |
| Listing Date | Tuesday, July 2, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 27, 2024 |
Petro Carbon and Chemicals IPO Lot Size
Investors can bid for a minimum of 800 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 800 | ₹136,800 |
| Retail (Max) | 1 | 800 | ₹136,800 |
| HNI (Min) | 2 | 1,600 | ₹273,600 |
| Lot Size Calculator | |||
Petro Carbon and Chemicals IPO Promoter Holding
Promoters of the company being Kishor Kumar Atha, Dilip Kumar Atha, Gaurav Atha, Vishal Atha and Bharat Atha.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue |
About Petro Carbon and Chemicals Limited
Petro Carbon and Chemicals Limited, an ATHA Group company, was founded in 2007 and is engaged in the production of calcined petroleum coke (CPC) for the carbon industry.
The company produces calcined petroleum coke, commonly known as CPC, from raw petroleum coke (RPC), also known as green petroleum coke, for use in the manufacture and production of aluminum, steel and various other carbon-based products.
The company’s production facility is located in Purba Medinipur, West Bengal, and has a capacity of around 93,744 tons of CPC per annum; the plant is spread over an area of around 30 acres.
The company employs around 74 people at various levels in the areas of production, maintenance, marketing, sales, administration and corporate services. In addition, the company employs around 290 contract workers at its current production facility.
Petro Carbon and Chemicals Limited Financial Information (Restated Standalone)
Petro Carbon and Chemicals Limited’s revenue increased by 84.92% and profit after tax (PAT) rose by 17.8% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 27,432.35 | 26,379.12 | 27,703.56 | 15,992.29 |
| Revenue | 44,711.11 | 51,760.99 | 27,990.70 | 15,528.68 |
| Profit After Tax | 7,031.16 | 672.65 | 570.99 | 11.64 |
| Net Worth | 10,653.34 | 3,752.81 | 3,080.17 | 2,509.17 |
| Reserves and Surplus | 12,528.21 | 5,561.06 | 4,973.20 | 4,489.97 |
| Total Borrowing | 8,063.02 | 17,582.78 | 19,418.00 | 8,182.43 |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
KPI as of December 31, 2023.
| KPI | Values |
|---|---|
| ROCE | 60.36% |
| Debt/Equity | 0.54 |
| RoNW | 66.00% |
| PAT Margin (%) | 15.78 |
Check Petro Carbon and Chemicals IPO Peer Comparison here.
Objects of the Issue (Petro Carbon and Chemicals IPO Objectives)
The objectives of the Offer are to:
- Achieve the benefits of listing the Equity Shares on the Stock Exchanges; and
- Carry out the Offer for Sale of up to Equity Shares by the Selling Shareholders.
Petro Carbon and Chemicals IPO Review (May apply)
[Dilip Davda] The company is engaged in manufacturing and marketing of CPC in the carbon industry. Its financial performance has many surprises for the reported periods, which are presumed as accounting tactics. Hefty net profit for 9M-FY24 raises eyebrows. Based on annualized FY24 earnings, the issue appears lucratively priced, but based on FY23 earnings, it is exorbitantly priced. What is more, it is a pure secondary offer and no fund is going to the company. There appears to be some window dressing to fetch fancy valuations for the IPO. Only well-informed investors may park moderate fund for medium term. Read detail review…
Petro Carbon and Chemicals IPO Prospectus
Petro Carbon and Chemicals Limited Contact Details
Petro Carbon and Chemicals Limited
Avani Signature, 6th Floor,
91A/1, Park Street,
Kolkata – 700016
Phone: 033-40118400
Email: pccl@athagroup.in
Website: http://www.pccl.in/
Petro Carbon and Chemicals IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html