Incorporated in October 2021, Nexxus Petro Industries Limited is involved in the trading, manufacturing, and sale of petrochemical products, particularly bitumen products.
The company produces and distributes high-quality bitumen, bitumen emulsions, and special bituminous allied products to infrastructure/construction companies, government agencies, road authorities, and the bitumen industry.
The company is BIS and ISO certified for its products and processes. It has upgraded its processing unit, boosting production capacity and product quality. This has led to an increase in customers due to its positive approach towards clients.
The company has three manufacturing units each in Gujarat, Rajasthan and Madhya Pradesh.
As of September 2024, the company has 17 permanent employees.
Competitive Strengths
- Experienced Management Team to look after day to day operations.
- Strong Supplier relationship for business growth
- Factories in Kutch, Gujarat, Pali, Rajasthan, and Bhopal, Madhya Pradesh, are well-equipped with modern machines and advanced processes.
| Purpose | Amount (₹ Cr) |
|---|---|
| Funding the working capital requirements of the Company; and | — |
| General corporate purposes. | — |
| Metric | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Total Assets | 3,893 | 1,645 | 933 |
| Revenue | 23,838 | 14,284 | 4,847 |
| PAT | 348 | 201 | 54 |
| Net Worth | 863 | 265 | 54 |
| Reserves | 353 | 255 | 54 |
| Total Borrowing | 2,161 | 835 | 370 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| NII / HNI | — | 878,400 (47%) | — |
| Retail (RII) | — | 878,400 (47%) | — |
| Market Maker | — | 93,600 (5%) | — |
| Total | — | 1,850,400 (100%) | — |
* Amount calculated at upper price band (₹105) · ** Total includes all investor categories
- 1 Initiation of Refund 03 Oct 2024
- 2 Credit of Shares to Demat 03 Oct 2024
- Retail allocation is strong at 47% of the total offering.
- HNI/NII demand is strong at 47%.
- The IPO P/E of 21x reflects a good valuation relative to typical market ranges.
- Pre-issue EPS of ₹7 compares to post-issue EPS of ₹5 after dilution.
This IPO shows strong fundamentals and healthy investor demand. Research the business model and compare with sector peers before applying.
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