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Nexxus Petro Industries IPO
Nexxus Petro Industries Ltd
₹1,26,000 /1200 sharesMinimum investment
IPO details
Minimum investment
₹1,26,000
Price range
₹105 - ₹105
Lot size
1,200
Issue size
19.43 Cr
Face value
10
IPO document
Subscription rate
Data will be available soon
Schedule
26 Sep 2024
IPO open date
30 Sep 2024
IPO close date
1 Oct 2024
Allotment date
1 Oct 2024
Funds unblock or debit
4 Oct 2024
Tentative listing date
About
Founded in
2021
MD/CEO
Mr. Haresh Mohanlal Senghani
Parent organisation
Nexxus Petro Industries Ltd
Nexxus Petro Industries Financials
Revenue
Total Assets
Profit
All values are in ₹ Cr
Strengths & Risks
Strengths
Risks
The company claims that its manufacturing and processing units are well-equipped with necessary machinery and handling equipment.
Nexxus Petro Industries also claims to have a fully equipped testing laboratory at its manufacturing and processing facilities, providing essential testing capabilities to ensure that all products meet required standards and specifications.
The company has obtained a BIS certificate and is ISO 9001:2015 certified for quality management systems and ISO 14001:2015 certified for environmental management systems.
The company has seen a consistent increase in revenue from operations and profit after tax (PAT) over the past few years. Revenue from operations increased from Rs 48.47 crore in FY22 to Rs 142.80 crore in FY23 to Rs 237.78 crore in FY24, while PAT increased from Rs 0.54 crore in FY22 to Rs 2.01 crore in FY23 to Rs 3.48 crore in FY24.
The company’s promoters are involved in some ongoing legal tax proceedings. Any adverse judgments in any of these cases can be detrimental to the company’s business prospects.
The company primarily deals with bitumen, which is termed a hazardous petrochemical. Any accidents while handling this substance could lead to major damages because of which the company may have to face potential legal actions.
The top 10 customers of the company contributed approximately 41.01%, 49.12%, and 60.28% to the revenue from operations in FY24, FY23, and FY22, respectively. The company does not have long-term agreements with the customers, and therefore, any loss of these customers, a failure to retain them, or a decline in demand from them can adversely impact the company’s operations and finances.
The company was incorporated just three years ago, resulting in a limited operating and financial history. This makes it challenging to evaluate the company’s future growth prospects.
As of March 31, 2024, the total outstanding borrowings, including both long-term and short-term loans, amount to Rs 21.61 crore. Any inability to service or repay these loans can negatively impact the company’s financial standing.
Application details
For Nexxus Petro Industries IPO, eligible investors can apply as Regular.
| Apply as | Price band | Apply range | Lot size |
|---|---|---|---|
| Regular | ₹105 - ₹105 | ₹2 - ₹5 Lakhs | 1200 |
| High Networth Individual | ₹105 - ₹105 | ₹2 - ₹5 Lakhs | 1200 |