Arabian Petroleum Announces IPO Opening on September 25, 2023, and Listing on NSE SME

Mumbai (Maharashtra) [India], September 22: Arabian Petroleum is pleased to announce the opening of its Initial Public Offering (IPO) for subscription on September 25, 2023, with the subscription period set to conclude on September 27, 2023. The company has established the issue price at Rs 70 per share, as stated in a company statement.

Arabian Petroleum aims to raise Rs 20.24 crore from the public offer, with each lot consisting of 2,000 equity shares. The offering comprises a total of 2,892,000 equity shares, with specific allocations for different investor categories. Of these, 1,372,000 equity shares are reserved for Non-Institutional Investors (NIIs) and Retail Individual Investors (RIIs) categories each, while the remaining 148,000 equity shares are reserved for market makers.

Arabian Petroleum shares will be listed on the NSE Emerge platform.

Arabian Petroleum is a one-stop shop for all lubricants and boasts a manufacturing plant with a capacity of 40,590 Kiloliters Per Annum (KLPA). The company has a robust distribution network encompassing 400 dealers and 9 depots. 

The company takes pride in being manufacturers of lubricants for industrial and automobile applications, Arabian Petroleum is one of the few manufacturers in India with comprehensive in-house capabilities, ensuring the delivery of high-quality products. Notably, the company also serves esteemed Government Sector clients, including the Indian Armed Forces, BHEL, BEML, Railways, BEL, among others.

HEM Securities is the lead manager for the issue, and Purva Sharegistry India Pvt Ltd has been appointed as the official registrar.

Arabian Petroleum invites investors and stakeholders to participate in this significant opportunity. Please refer to the company’s prospectus for further details.

If you have any objection to this press release content, kindly contact to notify us. We will respond and rectify the situation in the next 24 hours.

Business News Education PNN News Press Release

Paras Foundation presented Paraschandrak Literary Awards

Biggest Award in Gujarati Language Literature Two Lakhs each to the writers of five different categories Ahmedabad (Gujarat) [India], May 28:  The ‘Paraschandrak Arpan Samaroh – 2024’ was organized by the Paras Foundation on May 27, 2024 in Ahmedabad today. This year marks the first edition of the event organized by the Paras Foundation. More […]

Read More
Business Business News PNN News Press Release

Vedanta Aluminium launches Project Kalakriti: A livelihood project for women in Jharsuguda

Jharsuguda (Odisha) [India], May 28: Vedanta Aluminium, India’s largest producer of aluminium, has inaugurated a traditional art and crafts training programme as a part of its project Kalakriti. This initiative has been introduced to foster sustainable livelihoods by training local women in various crafts. It is aimed at promoting and facilitating a revenue model for these women by providing them […]

Read More
Business Business News PNN News Press Release

B3 QSR Launches in Andheri West: India’s Largest Quick Service Restaurant

Mumbai (Maharashtra) [India], May 28: B3 QSR has officially opened its doors in Andheri West, Mumbai, setting a new benchmark as India’s largest Quick Service Restaurant. Spanning an impressive 21,000 square feet, B3 can accommodate 1,500 guests simultaneously, catering to a diverse crowd from teenagers to families. B3 offers a unique dining experience with a […]

Read More