Arabian Petroleum Ltd Share Price – NSE

Chemicals, Small Cap

Arabian Petroleum will hold a meeting of the Board of Directors of the Company on 26 April 2024.

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Arabian Petroleum will hold a meeting of the Board of Directors of the Company on 18 November 2023.

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The scrip was listed at Rs 77.40, up 10.57% over the initial public offer (IPO) price. The stock was currently trading at a discount of 1.81% from its listing price.

The counter hit a high of Rs 78.80 and a low of Rs 74.25 so far. About 9.54 lakh shares of the company changed hands at the counter.

Arabian Petroleum's IPO was subscribed 18.51 times. The issue opened for bidding on 25 September 2023 and it closed on 27 September 2023. The price of the IPO was fixed at Rs 70 per share.

The IPO comprised fresh issue of 28,92,000 shares. The promoter and promoter shareholding diluted to 73.45% from 100% pre-IPO.

The company intends to utilize the net proceeds to meet working capital requirements, general corporate purpose.

Arabian Petroleum is in the business of manufacturing wide range of lubricants including specialty oils, coolants etc used for industrial and automotive applications. The company's domestic and international customers are spread across multiple industries, including pharmaceutical, FMCG, chemicals, steel, rubber and tyre, power, civil engineering, electrical appliances, textile, telecommunication, chemical, cables and conductors and automobile industry etc. Apart from private players, we also derive our revenues under the contracts from the Government sectors (both central and state) and associated entities. As on 31 March 2023, The company has 207 employees at various levels of the Organization including senior management and KMP.

The company recorded revenue from operations of Rs 242.83 crore and net profit of Rs 4.86 crore for the period as on 31 March 2023.

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