This positive opening reflects strong investor interest, although the listing gains were slightly below grey market expectations, where the shares had been trading at a 63% premium before the debut.
The IPO, comprising a fresh issue of 13.92 lakh shares, had a price band set at Rs 113-119 per share and drew a wide range of investors.
The issue garnered strong investor interest, with subscriptions nearly 133 times oversubscribed. Non-institutional investors purchased 245.7 times their reserved portion, while retail investors claimed 135 times their quota. Qualified Institutional Buyers (QIBs) bought 31 times their allocated shares.
The company plans to use the IPO proceeds to fund capital expenditures for installing additional plant and machinery, meet working capital requirements, and cover general corporate purposes.
Founded in 2013, Jaipur-based Shubhshree Biofuels Energy provides biomass fuels, such as biomass pellets and briquettes, to customers in sectors including recycled materials, textile processing, pharmaceuticals, and metals.ShubhShree Biofuels Energy, established in 2021, is a leading player in Biomass Supply Chain Management in India. The company specializes in supplying biomass fuels, including pellets and briquettes, to various industries such as recycled materials and textile processing.As of around 11 a.m. today, ShubhShree Biofuels Energy shares were trading 5% higher at Rs 198.45 on the NSE.
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