Positron Energy Ltd IPO: Review, Valuation, Opening Date & GMP

Positron Energy Limited IPO - Complete Overview

Positron Energy Limited IPO an SME IPO is a book-built issue of Rs.51.21 crore by Positron Energy Limited that was established in 2008, offers technical advice and managerial services to the Indian oil and gas sector. They provide full gas distribution solutions, including project management, operation and management services, and management consulting. In the Indian market, the company uses common carrier pipeline networks to expand its natural gas aggregation business.

The company holds certifications in accordance with ISO 45001:2018 and ISO 9001:2015 standards. The quality of consulting and O&M services offered to the oil and gas industry is guaranteed by this accreditation.

The organization provides services to significant actors in the oil and gas industry, encompassing both public and private enterprises. The organization offers the following services: 

• Project Management Consultation (PMC).

• CGD (City Gas Distribution) Network Operations Maintenance.

• Operations and Maintenance of CNG and Small-scale LNG.

• Execution Projects for CGD Infrastructure etc.

The company plans to launch its SME IPO on August 12, 2024. 

 

Positron Energy Limited IPO Overview

The Rs.51.21 crore Positron Energy IPO consists of a fully fresh issue of 20.48 lac Shares, of which 35% are allotted to retail investors, 50% to institutional investors, and 15% to non-institutional investors.

This SME IPO is available for purchase from August 12 - August 14, 2024. The expected listing date is Tuesday, August 20, 2024, on NSE and SME. Share price Rs.238 to Rs.250.

To open a demat account and apply for the IPO, Click Here.

Company Financial

The company's profit after tax (PAT) climbed by 267.02 %, while revenue increased by 480.1% over the fiscal years ending 31 March 2023, and 31 March 2022.

Below is the synopsis of the company's financial data for the period between 31 March 2023, and 31 March 2022.

• The total revenue of the company is Rs.8,061.33 lac.

• The net worth of the company is Rs.1,109.82 lac.

• The company's EBITDA is Rs.699.46 lac.

• The total assets of the company are Rs.5,231.85 lac.
  
  

(Amount in Lac)

Period	30 Nov 2023	31 Mar 2023	31 Mar 2022
Total Assets	5,231.85	2,476.25	938.90
Total Revenue	8,061.33	5,202.61	896.85
PAT	533.63	212.80	57.98
Net Worth	1,109.82	566.87	354.45
Total Reserves and Surplus	1,075.12	532.17	319.75
Borrowing	762.33	741.81	368.33

 

 

Revenue Bifurcation

The revenue bifurcation for various activities is shown below:

(Amount in lac)

Net Cash Flow In Multiple Activities	30 Nov 2023	31 Mar 2023	31 Mar 2022
Net Cash Flow Operating Activities	978.98	99.09	-69.17
Net Cash Flow Investing Activities	81.11	-60.09	-60.22
Net Cash Flow Financing Activities	-5.66	333.77	233.76

 

Revenue Breakdown From Sales of Products

(Amount in lac)

Particular	30 Nov 2023	31 Mar 2023	31 Mar 2022
CBM Gas Distribution	326.07	713.03	427.70
Natural Gas	6,977.48	3,869.17	-
LNG and Diesel Dual Fuel	-	42.37	-

 

Service-wise Revenue Breakdown

(Amount in lac)

Particular	30 Nov 2023	31 Mar 2023	31 Mar 2022
Management & Technical Consultancy	696.78	515.81	369.33
Erection and Commissioning income	-	-	72.00

 

Geography-wise Revenue (Major Part) Breakdown

(Amount in Lac)

Location	30 Nov 2023	31 Mar 2023	31 Mar 2022
Gujarat	3,935.71	2,917.44	234.48
Karnataka	1,826.74	8.50	-
Uttar Pradesh	178.55	376.43	58.96
Haryana	259.24	4.81	-
Andhra Pradesh	800.44	-	-

 

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Working capital needs.

• General Corporate Purposes.

 

Peers of Positron Energy Limited

The company doesn’t have any listed peers in India.

 

Evaluation

The price of Positron Energy Limited-IPO is Rs.238 to Rs.250 for each Share.

Evaluation of P/E Ratio

Considering the FY ended 31 March 2023 with an EPS of Rs.3.83 from the last year, the resulting P/E ratio is 65.27x.

Considering the weighted EPS of Rs.2.33 for the last three years, the P/E ratio is 107.29x.

Comparative Analysis With Listed Peers

The average P/E Ratio of the industry is NA.

 

IPO's Strengths

• Execution Projects for CGD Infrastructure etc.

• Tailored Services and Solutions

• Flexibility in Response to Shifting Gas Price Environment

• Accepting Reforms in Government

• A Well-Rounded Portfolio for Potential Growth

• Skilled Team Leaders and Executors.
  
  

IPO’s Weaknesses

• In the previous years, the company's operating, investing, and financing operations resulted in negative cash flows.

• When it comes to obtaining natural gas, the company relies on outside sources. Any interruption in these third parties' supply of natural gas might cause to experience a disruption or failure in its natural gas supply, which could harm the company’s operations.

• The company depends on other parties for the transportation of natural gas. Any delay, hold-up, or malfunction in the timely delivery of the natural gas might lead to a breakdown or disruption in its natural gas supply, which could be detrimental to its business.

• About 80% of the natural gas the company uses, is supplied by two significant private companies in the nation. Any interruption in these firms' supply will harm their operations, reputation, company, and cash flows.
  
  

IPO GMP Today

The Latest GMP of Positron Energy Limited IPO is Rs.285.

Positron Energy Limited IPO Timetable (Tentative)

The IPO is scheduled from August 12 to August 14, 2024, with allotment on August 16, refund initiation on August 19, and listing on August 20, 2024.

Events	Date
IPO Opening Date	August 12, 2024
IPO Closing Date	August 14, 2024
IPO Allotment Date	August 16, 2024
Refund Initiation	August 19, 2024
IPO Listing Date	August 20, 2024

 

Positron Energy Limited IPO Details 

The IPO with a Face Value of Rs.10 per Share is set to start on August 12, 2024, close on August 14, 2024, and offer a total issue size of 2,048,400 Shares (aggregating up to Rs.51.21 Cr) comprising a whole fresh issue size of 2,048,400 Shares (totaling up to Rs.51.21 Cr).

IPO Opening & Closing Date	August 12, 2024 to August 14, 2024
Face Value	Rs.10 per Share
Issue Price	Rs.238 to Rs.250
Lot Size	600 Shares
Issue Size	2,048,400 Shares (totaling up to Rs.51.21 Cr).
Offer for Sale	NA.
Fresh Issue	2,048,400 Shares (totaling up to Rs.51.21 Cr).
Listing at	NSE, SME
Issue Type	Book Built Issue IPO
Registrar	Link Intime India Private Ltd

 

 

Positron Energy Limited IPO Lot Details 

The IPO allows retail investors to invest in a minimum and maximum of 1 Lot (600 Shares) amounting to Rs.150000 and in multiples thereof, while for HNI investors, the minimum Lot is 2 (1200 Shares) amounting to Rs.300000.

Minimum Lot Investment (Retail)	1 Lot
Maximum Lot Investment (Retail)	1 Lot
HNI (Min)	2 Lots

 

Positron Energy Limited IPO Reservation

Institutional Portion	50%
Retail Portion	35%
Non-Institutional Portion	15%

 

Promoters And Management Of Positron Energy Limited IPO

• Mr. Rajiv Shankarankutty Menon

• Mr. Manav Bahri 

• Mr. Sujit K Sugathan. 

Pre-Issue Promoter Shareholding	98.56%
Post-Issue Promoter Shareholding	-

 

 

Positron Energy Limited IPO Lead Managers

• Beeline Capital Advisors Pvt Ltd.
  
  

Dividend Policy

The company has not declared dividends in any financial year.

 

Conclusion

The company has experienced negative cash flow in operating, financing, and investing activities throughout the last few fiscal years. To achieve its goals, the company is currently launching an IPO for the general public.

We believe the information offered in this blog helps you learn about the company's financial performance. So this blog will be very useful to you if you are looking for information about the approaching IPO since it will give you reliable data about the company's insights, financials, and past performance. If this informative blog piques your interest, you may be interested in reading our other related and useful posts on our website.

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

Disclaimer: This IPO analysis is only for informational purposes and should not be considered as investment advice. Always do your research and consult with a financial advisor.

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