Petro Carbon and Chemicals Limited-IPO

NiftyTrader • June 22, 2024

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The Petro Carbon and Chemical IPO is scheduled to open on June 25, 2024, and close on June 27, 2024. Petro Carbon and Chemicals aims to raise Rs 113.16 crores via this Mainline IPO. The entire issue consists of an offer for sale of 66.18 lakh shares.

The price band for the Petro Carbon and Chemical IPO is set at Rs 162 to 171 per share, with a market lot of 800 shares.

The IPO will be listed on the NSE SME, with the tentative listing date set for Tuesday, July 2, 2024. The allotment for the Petro Carbon and Chemical IPO will be finalized on Friday, June 28, 2024.

Petro Carbon and Chemicals IPO Details

IPO Date	June 25, 2024 to June 27, 2024
Listing Date	[.]
Face Value	Rs 10 per share
Price	Rs 162 to Rs 171 per share
Lot Size	800 Shares
Total Issue Size	6,617,600 shares (aggregating up to Rs 113.16 Cr)
Fresh Issue	6,617,600 shares of Rs 10 (aggregating up to Rs 113.16 Cr)
Issue Type	Book Built Issue IPO
Listing At	NSE SME
Shareholding pre issue	24,700,000
Market Maker portion	430,400 shares

Petro Carbon and Chemicals IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	800	Rs 136,800
Retail (Max)	1	800	Rs 136,800
HNI (Min)	2	1600	Rs 273,600

Petro Carbon and Chemicals IPO Objectives

The objectives of the Offer are to:

Carry out the Offer for Sale of up to Equity Shares by the Selling Shareholders.

Achieve the benefits of listing the Equity Shares on the Stock Exchanges.

About Petro Carbon and Chemicals

Petro Carbon and Chemical Limited (PCCL) was established on November 5, 2007, and is engaged in the production of calcined petroleum coke (CPC) for the carbon industry.

PCCL is part of the ATHA GROUP, a multi-product, multi-technology, multi-location business conglomerate.

The company’s production facility, located in Purba Medinipur, West Bengal, has a capacity of around 93,744 tons of CPC per annum and is spread over an area of approximately 30 acres.

PCCL employs around 74 people in various levels of production, maintenance, and other areas. Additionally, the company employs around 290 contract workers at its current production facility.

Petro Carbon and Chemicals Limited Financial Information

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

Petro Carbon and Chemicals IPO Timeline

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

Conclusion

Petro Carbon and Chemicals Limited is launching its IPO from June 25 to June 27, 2024, aiming to raise Rs 113.16 crores through an offer for sale of 66.18 lakh shares. The price band is set at Rs 162 to 171 per share, with a lot size of 800 shares. The IPO will be listed on the NSE SME, with the listing date expected on July 2, 2024. The primary objectives are to facilitate the offer for sale by existing shareholders and to benefit from listing on the stock exchange. The company, part of the ATHA GROUP, specializes in producing calcined petroleum coke and has shown significant financial growth, with notable increases in revenue and profit after tax over recent years.