Petro Carbon and Chemicals IPO to open on June 25; price band fixed at ₹162-171 apiece
₹162 to ₹171 per equity share, with a face value of ₹10 each. The Petro Carbon and Chemicals IPO will begin subscriptions on Tuesday, June 25, and end on Thursday, June 27. The floor price is 16.2 times of the face value and the cap price is 17.1 times of the face value of the equity shares.
Bids can be placed for a minimum of 800 equity shares and in increments of 800 equity shares after that.The Petro Carbon and Chemicals IPO has allocated 50% of its net offer to qualified institutional buyers (QIBs), 35% to retail investors, 15% to non-institutional investors, and 6.50% to market makers.Also Read: Dee Development Engineers IPO: GMP, review, subscription status, other details. Apply or not?According to the Red Herring Prospectus (RHP), the company manufactures and markets calcined petroleum coke ("CPC") in the carbon industry. The Atha Group is a corporate conglomerate with several products, technologies, and locations.
It is a 70-year-old diverse Indian commercial conglomerate based in Kolkata. The Group was started in 1957 in Odisha as a mining and mineral firm. Since the previous decade, the company has focused on its growth strategy of business diversification, forward and backward integrations, and project acquisition, which has greatly contributed to the group's stability in performance and growth.The company's listed peers are Goa Carbon Ltd (with a P/E of 8.76), and India Carbon Ltd (with a P/E of 13.85).
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