Neptune Petrochemicals IPO closes today; subscription nears 3x, GMP nil

Neptune Petrochemicals Day 3 subscription status: The issue had been subscribed around 2.7 times, as per NSE data

Neptune Petrochemicals Day 3 subscription status: The three-day subscription window to bid for Neptune Petrochemicals initial public offering (IPO) is set to close today, May 30, 2025. The SME public issue, which opened for bidding on Wednesday, May 28, 2025, has received a muted response from investors. According to NSE data, the issue has been subcribed only 2.77 times as of 2:30 PM on Friday.

Neptune Petrochemicals IPO GMP

The unlisted shares of Neptune Petrochemicals were trading flat at ₹122, the upper price band as of 2:30 PM on Friday, according to sources tracking unofficial market activities. 

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Neptune Petrochemicals IPO details

Neptune Petrochemicals aims to raise ₹73.2 crore through the SME offering comprising a fresh issue of 6 million equity shares. There is no offer for sale (OFS) component. According to the red herring prospectus (RHP), the basis of the allotment of shares is expected to be finalised on Monday, June 2, 2025. Shares of Neptune Petrochemicals will be listed on the NSE SME platform tentatively on Wednesday, June 4, 2025. 

 

The company has set the price band in the range of ₹115 to ₹122 per equity share. Retail investors would require a minimum investment amount of ₹1,15,000 to subscribe for a minimum of one lot comprising 1,000 shares. High-net-worth individuals (HNIs) can bid for a minimum of two lots consisting of 2,000 shares with a minimum investment amount of ₹2,44,000.

 

MUFG Intime India serves as the registrar for the issue. Beeline Capital Advisors is the sole book-running lead manager. 

 

According to the RHP, from the net issue proceeds, the company plans to use ₹5.15 crore for installation of additional plant and machinery and related infrastructure; ₹14.7 crore for purchase of office space and ₹4.2 million for working capital requirements. The remaining funds will be used for general corporate purposes. 

About Neptune Petrochemicals

Neptune Petrochemicals is engaged in the manufacturing and trading of a comprehensive range of bitumen products, bitumen

emulsions and allied products. The company has a diverse product portfolio including various grades of bitumen, modified bitumen like Polymer Modified Bitumen, Crumb Rubber based modified bitumen and oils. It offers a broad range of products tailored to the needs of the road construction and infrastructure industries. The company has presence across India and neighbouring countries like Nepal and Bhutan.