Rajputana Biodiesel Limited listed at ₹247 per share, a 90% premium over its ₹130 IPO price. The stock further rose 5%, reaching ₹259.35, marking a 99.5% gain and hitting the upper circuit on the NSE SME.
Rajputana Biodiesel Limited IPO experienced massive investor interest on Day 3, with an impressive subscription rate of 645.81x. This exceptional demand underscores investors’ strong confidence in the company’s future growth prospects, highlighting the market’s enthusiasm and belief in its potential success.
Read More: Auto stocks jump after companies report 16% increase in sales in November 2024
Rajputana Biodiesel Limited operates a manufacturing unit in Phulera, Rajasthan, with a 30 KLPD capacity, producing biodiesel, glycerine, and fatty acids. Adaptable to multiple feedstocks, it efficiently meets market demands. The company focuses on bio-fuels, enhancing by-product value, and exploring export opportunities to expand its market reach and business potential.
Read More: Vijay Kedia stock hits 5% upper circuit after it reports 24.58% YoY increase in sales!
Rajputana Biodiesel Ltd IPO funds will support a ₹4.20 crore loan for subsidiary expansion, ₹12.20 crore for working capital, and balance for corporate purposes, including marketing, machinery, and business development.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.