Nexxus Petro Surges 20% on Market Debut

Nexxus Petro Industries IPO Listing Details:

Date of Listing: The shares of the company, Nexxus Petro Industries, got listed on October 4, 2024.
Listing Price:
The stock was listed at ₹126 per share, which was a 20% premium over its issue price of ₹105.
IPO Issue Details:
Issue Period: September 26, 2024 to September 30, 2024.
Issue Size: The overall issue size was ₹19.43 crores comprising 1,850,400 equity shares at ₹105 per share.
Price Band: Stocks were marketed in the price band of ₹105 per share.
Market Performance Post Listing
Shares of Nexxus Petro Industries rose with a listing gain of 20% signifying an investor’s confidence in the company’s future prospects.
Subscription:
The IPO was subscribed more than 8.5 times, and retails were quite enthusiastic. Thus, by the end of the subscription period, retail individual investors were in surplus of more than 8.96 times which depicts healthy demand.
Company Background:
Nexxus Petro Industries deals in trading, manufacturing, and the sale of petrochemical products with an emphasis on bitumen products in the service sectors of infrastructure, construction, and governments.
Investment Insights:
Those who had applied for the IPO saw a profit of ₹25,200 on listing from each lot of 1200 shares.