Petro Carbon and Chemicals IPO Closed
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Schedule of Petro Carbon and Chemicals
| Issue open date | 25 Jun 2024 |
| Issue close date | 27 Jun 2024 |
| UPI mandate deadline | 27 Jun 2024 (5 PM) |
| Allotment finalization | 28 Jun 2024 |
| Refund initiation | 01 Jul 2024 |
| Share credit | 01 Jul 2024 |
| Listing date | 02 Jul 2024 |
| Mandate end date | 12 Jul 2024 |
| Lock-in end date for anchor investors (50%) | 30 Jul 2024 |
| Lock-in end date for anchor investors (remaining) | 26 Sep 2024 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Petro Carbon and Chemicals
Petro Carbon and Chemicals’ IPO launches on June 25, 2024, with subscriptions closing on June 27, 2024. Established in 2007, the company is part of the ATHA Group, a diversified Indian business house headquartered in Kolkata. The company is engaged in the manufacturing and marketing of Calcined Petroleum Coke (CPC), primarily supplying aluminium manufacturers, graphite electrode producers, and other industries such as metallurgical, chemical, and steel. The manufacturing facility situated in Haldia, West Bengal, is capable of producing around 93,744 tons of CPC annually. Encompassing over 30 acres, the facility is equipped with specialized railway siding for streamlined logistics.
Financials of Petro Carbon and Chemicals
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹113.16 crores |
| Fresh Issue | ₹113.16 crores |
| Offer for sale | – |
*All figures except EPS are in ₹ Crores
Risks
- Dependency on the Aluminium and Steel Industry: The Company’s revenues are heavily dependent on the aluminium and steel industries through its product, Calcined Petroleum Coke (CPC). Any downturn in these industries or issues affecting customers could significantly impact the Company’s business and financial health.
- Reliance on Key Suppliers: The Company’s production relies on key suppliers for raw materials and components. Disruptions, cost increases, or delivery delays from these suppliers could adversely affect production and financial stability.
- Performance Risk from Third-Party Contractors: Dependence on third-party contractors and employees carries risks of non-performance or substandard performance, leading to additional costs and delays, affecting the Company’s operations and finances.
Note:
- The above schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion.
- The allotment status will be available by July 01, 2024, on the Registrar’s website and the NSE website.