Rudra Gas Enterprises is a gas company that recently offered its shares to investors through what’s called an IPO, or Initial Public Offering.
This means the company decided to sell shares to the public for the first time.
The response from investors has been really strong. In fact, people wanted to buy the shares much more than what was available.
The IPO got filled up 350.75 times in just three days!
Now, you might wonder who these investors are. Well, there are two main types: non-institutional investors and retail investors.
The non-institutional investors wanted to buy the shares about 286.62 times, while retail investors were even more eager, subscribing 404.38 times.
Today, on February 13, 2024, the allotment, which means the process of giving out shares to those who subscribed, is expected to happen.
Investors can check if they’ve been allotted shares on the official website of the registrar for the IPO, Link Intime India Private Limited, and also on the BSE website.
Let’s talk about when this IPO started. It began on February 8th and ended on February 12th.
During this time, investors could buy shares at a price of ₹63 per share.
Now, to buy shares, investors had to buy in lots, and each lot contained 2,000 shares.
There’s been a lot of excitement in what’s called the gray market about Rudra Gas Enterprises’ shares.
These are unofficial markets where people trade shares before they’re officially listed on the stock exchange.
Right now, the shares are being sold in this gray market at a higher price, about Rs 50 more than the IPO price.
This suggests that when the shares officially start trading on the stock exchange, they might open at around Rs 113, which could mean a profit of up to 80% for those who bought during the IPO.
Now, let’s talk about the company itself. Rudra Gas Enterprises is involved in various infrastructure-related activities like fiber cable networks, gas distribution network projects, and renting out construction equipment and vehicles.
They mainly work with municipal gas distributors. The company is promoted by three individuals: Manjulaben Sureshbhai Patel, Kush Sureshbhai Patel, and Kashyap Sureshbhai Patel.
The IPO consists of offering new shares, totaling 22,48,000 equity shares, and it raised ₹14.16 crore.
This means the company got this money to fund its operations and expansion plans.
