Nexxus Petro Industries
IPO Timeline
Issue open date
26 Sep 2024Issue close date
30 Sep 2024UPI mandate deadline
30 Sep 2024Allotment finalization
1 Oct 2024Refund initiation
3 Oct 2024Share credit
3 Oct 2024Listing date
4 Oct 2024Mandate end date
15 Oct 2024Lock-in end date for anchor investors (50%)
30 Oct 2024Lock-in end date for anchor investors (remaining)
29 Dec 2024Key Dates
Quick Stats
About the Company
Incorporated in 2021, Nexxus Petro Industries is engaged in trading, manufacturing, and selling Petrochem products namely Bitumen products. Bitumen is a sticky, black, and highly viscous liquid or semi-solid form of petroleum, and has various applications across industries like road construction, Waterproofing, Adhesives, Insulation, Paint and coatings, etc. Its product portfolio includes various grades of Bitumen which are classified based on viscosity and related properties of each grade. Presently, the company procures bitumen via imports from Dubai as well as purchases from other domestic importers/sellers in India. It further processes the bitumen procured at its processing units located at Mundra, Gujarat; Pali, Rajasthan; and Bhopal, Madhya Pradesh.
Strengths
- The company’s diversified locations gives them advantages in terms of economies of scale and proximity to customers. Thus helping them to expand the business in future.
- The company’s business model is scalable as its main product bitumen finds applications in various industries across applications providing them ample opportunities to grow operations, diversify its product portfolio, and add new customers.
- It holds BIS and ISO certifications for its products and processes.
- According to the company, There is tremendous demand for value-added products such as Bitumen Emulsion with the potential to generate higher margins.
Risks
- The company’s main product Bitumen is a petrochemical product and is considered hazardous in nature. In the event of any accidents involving any such hazardous materials and substances, It may be held liable for subsequent damages and litigations.
- The company had negative cash flows during certain fiscal years in its operating, and investing, activities. Sustained negative cash flows in the future would adversely affect the results of operations.
- Nearly 41% of the company’s revenue is generated from its top 10 customers. Any loss of one or more such customers, or the deterioration of their financial condition or prospects could adversely affect the business.
- The company operates in a competitive industry dominated by large integrated players.
- Bitumen business is subject to seasonal and other fluctuations that may affect the company’s cash flows and business operations.
Nexxus Petro Industries IPO – Frequently Asked Questions
- The Nexxus Petro Industries IPO opens on September 26, 2024 and closes on September 30, 2024.
- The tentative listing date for the Nexxus Petro Industries IPO is October 4, 2024.
- You can apply for the Nexxus Petro Industries IPO via your broker or bank using ASBA or UPI. Log in to your trading app (Zerodha, Upstox, Groww, etc.), select IPO section, choose Nexxus Petro Industries, enter lot quantity and UPI ID, then approve the mandate.
- The lot size for the Nexxus Petro Industries IPO is 1200 shares. Investors must apply for at least one lot (i.e., 1200 shares).