Neptune Petrochemicals IPO Day 2 Check GMP, Subscription And Other Key Dates

The Initial Public Offering (IPO) of Neptune Petrochemicals got off to a phenomenal start on Tuesday, May 28, with the issue sailing through on the very first day of bidding. By the early morning on Day 2, the IPO was subscribed 1.17 times, reflecting strong investor interest despite muted signals from the grey market. 

Neptune Petrochemicals IPO: Price band and issue size

The company is aiming to raise Rs 73.20 crore through a fresh issue of 60 lakh equity shares. The IPO is being offered in a price band of Rs 115 to Rs122 per share. Investors can bid for a minimum of one lot, which comprises 1,000 shares. This translates to a minimum investment of Rs 1.22 lakh for retail investors, while high-net-worth individuals (HNIs) must invest at least Rs 2.44 lakh to participate.

Also Read: Prostarm Info Systems IPO GMP: Public Issue Attracts Strong Bidding On Day 2 - What Grey Market Premium Indicates | Republic World

Neptune Petrochemicals IPO: GMP and market response

Interestingly, the grey market premium (GMP) for the IPO stood at zero on the day of the launch. This suggests that shares were trading at par with the issue price in the unofficial market, indicating neutral sentiment among informal investors regarding potential listing gains.  The public issue subscribed 0.00 times in the retail category, 2.44 times in QIB, and 2.20 times in the NII category by May 29, 2025, 12:09:01 PM, as per market watchers. 

Neptune Petrochemicals IPO: Usage of funds

The company revealed that the proceeds from the IPO will be used to expand capacity by installing additional plant and machinery, besides investing in office infrastructure. A portion of the funds has also been earmarked for working capital requirements and general corporate purposes.

Neptune Petrochemicals IPO: Listing date and other details

The public offering, which opened on May 28, will close on May 30. Following the closure, the basis of allotment is expected to be finalized on June 2. Refunds, where applicable, will be initiated on June 3, the same day when shares are likely to be credited to investors’ demat accounts. If all goes as scheduled, Neptune Petrochemicals will make its debut on the NSE SME platform on June 4. 

About the company 

Neptune Petrochemicals, incorporated in 2021, is engaged in the manufacturing and trading of various grades of bitumen products. The company’s portfolio includes polymer-modified bitumen (PMB), crumb rubber modified bitumen (CRMB), and other specialty variants that are widely used in the construction and road infrastructure sectors. The company’s operations are anchored in serving infrastructure developers, and it aims to capitalize on India’s ongoing focus on road building and urban development.