Neptune Petrochemicals IPO: Price, Overview, And GMP

Neptune Petrochemicals IPO- Complete Overview

Neptune Petrochemicals IPO under the SME IPO category is a book build issue of Rs. 73.20 Cr from Neptune Petrochemicals Limited. It was founded in October 2021 and is a Manufacturer & Trader of Bitumen Products & Emulsions.

The product offering includes different grades of bitumen from the company, polymer-modified bitumen, and crumb-rubber-modified bitumen. Such as construction and industrial applications, the company caters to various industries.

Procter has three manufacturing units: Unit I located at Ahmedabad, Gujarat, Unit II in Panipat, Haryanaand Unit III in Kamrup, Assam. The company further buys the bitumen and fuel oils for resale from reputed vendors on quality quality-backed customer need.

The company is certified with 2015 accreditations in Quality Management (ISO), Environmental Management (ISO), and Occupational Health & Safety (OHSAS 2018), or as those are mentioned.

Neptune complies with international standards and follows fundamental procedures to make reliable, innovative product operations that are of high quality.

The products of the company are being exported to Nepal and Bhutan, and it has sales in India.

Neptune Petrochemicals IPO Overview

The Neptune IPO will be available from May 28, 2025, to May 30, 2025. 

The Rs. 73.20 Cr new SME IPO comprises a wholly fresh issue of 60 lac Shares. 

The upcoming IPO date of allotment is Jun 02. The Neptune Petrochemicals IPO price is Rs. 115 to Rs. 122 for each Share. 

The Neptune Petrochemicals IPO listing date is Jun 04, 2025 (expected) and listing at the NSE and SME.

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Company Financial

(Amount in Cr)

Period	31 Dec 2024	31 Mar 2024	31 Mar 2023
Total Assets	117.00	120.95	107.88
Total Revenue	620.16	675.97	709.31
PAT	19.47	20.82	10.39
Net Worth	61.23	31.90	11.08
Reserves & Surplus	44.57	31.89	11.07
Borrowings	0.16	-	5.12

 

 

Cash Flows

(Amount in lac)

Net Cash Flow in Multiple Activities	31 Dec 2024	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	(1,142.56)	1,614.26	(688.56)
Net Cash Flow Investing Activities	(35.68)	(289.38)	(78.04)
Net Cash Flow Financing Activities	993.48	(537.35)	459.18

 

Revenue Bifurcation

Country-wise Revenue Bifurcation

 

State-wise Revenue Bifurcation

 

The Objective of the Issue

• Meeting the needs for working capital.

• Commitment to fund capital expenditure for the installation of additional plant and machinery, including related infrastructure.

• Capital Expenditure funding for office space acquisition.

• General corporate purposes.

 

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Peers of Neptune Petrochemicals Ltd.

Company Name	Face Value (Rs.)	EPS (Rs.)	P/E (x)
Agarwal Industrial Corporation Ltd.	10	73.02	13.85
Nexxus Petro Industries Ltd.	10	8.99	22.94

 

Evaluation

Neptune Petrochemicals IPO price is Rs. 115 to Rs. 122 for each Share.

Evaluation of P/E Ratio

Considering the FY ended 31 Dec 2024 with an EPS of Rs. 13.87 from the last year, the resulting P/E ratio is 8.79x.

Considering the weighted EPS of Rs. 9.41 for the last three years, the P/E ratio is 12.96x.

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IPO's Strengths

• Construction or roads, buildings, and so on -focused products.

• The company knows the market, customers, and the laws.

• Target market segmentation.

• Successful production planning.

• Serves peak demand.

 

IPO’s Weaknesses

• In the past, the top 10 customers accounted for up to 62.19%  of its revenue, and the company is very much dependent on its top customers. A few fewer on them, and we could probably stand to lose a few of them, sales, cash flow, are profitability.

• It is producing bitumen, which exposes environmental risks, including emissions and waste of chemicals and materials. Additionally, problems in the temperature control systems, specifically during production, lead to product spoilage, which results in customer dissatisfaction and financial crisis.

• Mainly, there is a risk of this internal control deficiency, which concerns inefficiency related to automation and error detection. It may lead to financial loss, fraud, or non-compliance, which can damage its reputation and operation.

 

Neptune Petrochemicals IPO GMP

Neptune Petrochemicals IPO GMP is Rs. 0 as of 27 May 2025, while writing this information. The Neptune Petrochemicals IPO listing price is Rs. 122 (estimated).

IPO Timetable (Tentative)

The Neptune IPO date of application is starting from May 28 to May 30, 2025, allotment on Jun 02, refund initiation on Jun 03, and listing on Jun 04, 2025.

Events	Date
IPO Opening Date	May 28, 2025
IPO Closing Date	May 30, 2025
IPO Allotment Date	Jun 02, 2025
Refund Initiation	Jun 03, 2025
IPO Listing Date	Jun 04, 2025

 

 

Neptune Petrochemicals IPO Details 

The IPO with a Face Value of Rs. 10 per share offers a total issue size of 60,00,000 Shares (Rs. 73.20 Cr).

IPO Opening & Closing date	28 May, 2025 to 30 May, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 115 to Rs. 122 per Share.
Lot Size	1000 Shares
Issue Size	60,00,000 Shares (Rs. 73.20 Cr)
Offer for Sale	-
Fresh Issue	60,00,000 Shares (Rs. 73.20 Cr)
Listing at	NSE, SME
Issue Type	Book Building Issue
Registrar	MUFG Intime India Private Limited (Link Intime)

 

IPO Lot Details 

The IPO allows retail investors to invest in a minimum and maximum of 1 Lot (1000 Shares) amounting to Rs. 1,22,000 and in multiples thereof, while for HNI investors, the minimum Lot is 2 (2000 Shares) amounting to Rs. 2,44,000.

Minimum Lot Investment (Retail)	1 Lot
Maximum Lot Investment (Retail)	1 Lot
HNI (Min)	2 Lots

 

The Aegis Vopak Terminals IPO application is available now.

 

IPO Reservation (% of Net Issue)

Institutional’s Portion	50%
Retail’s Portion	35%
Non-Institutional’s Portion	15%

 

Promoters And Management of Neptune Petrochemicals Ltd.

• Mr. Pareshkumar Subodhchandra Shah

• Mrs. Riddhi Pareshkumar Shah,

• Mr. Sanjaykumar Subodhchandra Shah.

Pre-Issue Promoter Shareholding	100%
Post-Issue Promoter Shareholding	-

 

IPO Lead Managers

• Beeline Capital Advisors Pvt Ltd.

 

 

Dividend Policy

The company has not paid a dividend in the last three FYs.

 

Conclusion

Neptune Petrochemicals IPO presents a promising opportunity in the SME segment with strong financials and market presence in bitumen products. With exports to Nepal and Bhutan and certified manufacturing units, the company shows growth potential. 

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.