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This SME IPO Surges 58.8% Above Issue Price on Stellar NSE Debut – Find Out More

Shubhshree Biofuels Energy debuted on September 16 at ₹189, marking a 58.8% premium over its ₹119 issue price on the NSE SME platform.
This SME IPO Surges 58.8% Above Issue Price on Stellar NSE Debut – Find Out More

Shubhshree Biofuels Energy debuted strongly on September 16, listing at ₹189, a 58.8% premium over the ₹119 issue price on the NSE SME platform. However, this was lower than the grey market’s 63% premium.

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The ₹16.56-crore public offer, involving a fresh issue of 13.92 lakh shares, saw exceptional interest, with total subscription reaching 133 times. Non-institutional investors subscribed 245.7 times their portion, retail investors 135 times, and QIBs 31 times.

Shubhshree Biofuels Energy Limited produces and supplies biomass fuels like pellets and briquettes as sustainable alternatives to fossil fuels for industrial uses. Since shifting from fly ash bricks to biomass in 2021, the company has seen sales soar from 9,700 tonnes in 2022 to 121,800 tonnes in 2024, with most revenue coming from Northern India and key regions like Haryana and Uttar Pradesh.

The objective of Shubhshree Biofuels Energy Limited IPO is to raise funds primarily for expanding its business operations, which includes acquiring new assets, enhancing production capacities, and meeting working capital requirements. Additionally, the funds will be used to repay existing debt and support general corporate purposes.

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Onyx Biotec IPO पहले दिन 2.80 गुना सब्सक्रिप्शन के साथ शानदार शुरुआत – अधिक जानकारी के लिए पढ़ें!

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