Schedule of Positron Energy
| Issue open date | 12 Aug 2024 |
| Issue close date | 14 Aug 2024 |
| UPI mandate deadline | 14 Aug 2024 (5 PM) |
| Allotment finalization | 16 Aug 2024 |
| Refund initiation | 19 Aug 2024 |
| Share credit | 19 Aug 2024 |
| Listing date | 20 Aug 2024 |
| Mandate end date | 29 Aug 2024 |
| Lock-in end date for anchor investors (50%) | 15 Sep 2024 |
| Lock-in end date for anchor investors (remaining) | 15 Nov 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 Positron Energy
Incorporated in 2008, Positron Energy is engaged in the management & technical advisory services of the Oil and Gas Industry. The company provides end-to-end solutions including management consultancy services like commercial and financial advisory, and technical services including project management and O&M (Operation and Management) services for Gas distribution to Industries across India. It has successfully developed a Gas aggregation business volume of 35 MMSCM (approx), especially in Natural Gas. The company is an ISO 9001:2015 and ISO 45001:2018 certified company and As of March 31, 2024, The company’s portfolio includes a substantial daily volume of 4000-5000 MMBTU of gas from various sources.
Financials of Positron Energy
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹51.21 crores |
| Fresh Issue | ₹51.21 crores |
| Offer for sale | – |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Working capital requirements | 38.20 (74.6%) |
| General corporate purposes | 12.80 (25%) |
| Others | 0.21 (0.4%) |
Strengths
- Niche Market Presence: Management and Technical expertise in the Oil and Gas sector give the company a niche presence in the market, allowing for unique and out-of-the-box solutions.
- Opportunity Exploration: The company is well positioned to Seize opportunities presented by the shift in subsidizing regimes and growing demand in the Oil & Gas sector, contributing to industry advancement.
- Forward-looking Approach: The company’s forward-looking approach, capitalizing on regulatory reforms particularly the Unified Tariff (UFT) implemented by PNGRB bodes well for unlocking potential and opportunities for market expansion, affordability, sustainability, and partnership development.
Risks
- Negative cash flows from operating activities: The company has had negative cash flows from its operating activities in the recent past. Negative cash flows over extended periods could affect the company’s ability to implement its growth plans.
- Higher working capital requirements: The company may need to raise additional capital in the future for working capital and may not be able to do so on favourable terms or at all, which can adversely affect the results of operations and business.
- Reliance on top clients: The company derives nearly 78% of its revenue from its top 10 customers. Any reduction in business from these top 10 customers or any other major clients could have negative implications for both revenue and profitability.