04-08-2025
Repono IPO listing: Shares off to a tepid start, list at 6% discount on BSE SME
Repono IPO Listing: Shares of oil storage and transportation firm Repono Limited were off to a tepid start on Monday, August 4. Repono share price listed at ₹ 90 on the BSE SME, a 6.25% discount to the issue price of ₹ 96 apiece.
The listing was significantly below expectations, as the grey market premium (GMP) for the Repono IPO was signalling a nearly 17% listing gain. Repono IPO GMP was at ₹ 16 ahead of its stock market debut today.
The company's initial public offering had seen a stellar response, receiving 64.95 times bids. The retail portion was subscribed 67.31 times, the non-institutional investor (NII) portion 107.34 times and the qualified institutional buyer (QIB) portion 29.03 times.
Repono IPO was entirely a fresh issue of 27.79 lakh shares, with the company looking to raise nearly ₹ 27 crore via the initial share sale.
The company plans to use the IPO proceeds for funding capital expenditures (capex) towards the purchase of forklifts, hand pallet trolleys, and reach stackers; setting up pallet warehouse racking systems; developing software for warehouse management; meeting working capital needs; and general corporate purposes.
Ahead of the start of the IPO on July 28, the company had raised ₹ 7.60 crore from the anchor investors.
Wealth Mine Networks Private Limited acted as the book-running lead manager of the Repono IPO, while Cameo Corporate Services Limited was the registrar for the issue.
Repono Limited provides a series of services across the oil value chain. It undertakes O&M of the crude oil terminal facility for one of the government-owned enterprises engaged in the oil sector. It also handles petro, diesel, ATF and ethanol for one of the largest crude oil and natural gas producers.
The company is also engaged in the O&M of petrochemical warehousing, and its customers belong to the crude oil and natural gas industry, Public Sector Enterprise and others.
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