Citichem India IPO GMP: Citichem India Limited’s IPO will open on Friday, December 27, and close on December 31. This issue received a tremendous response in two days. During this period, approximately 28 times were subscribed to this Ctichem India IPO GMP. The issue was fully subscribed to within hours of launch on the first day.
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Citichem India IPO GMP Price Band
The price band of this IPO has been fixed at Rs 70 per share. The shares of the company are proposed for listing on BSE.
Citichem India IPO GMP Update
Citichem India Limited’s IPO is available in the gray market at a premium of Rs 30. This means that the company’s shares can be listed at Rs 100 with a premium of about 43%. The IPO allotment status is expected to be finalized on Wednesday, 1 January 2025.
The refund will be issued on Thursday, 2 January 2025 and the allottees will also receive the shares in their demat accounts on the same day. The company proposes to list its shares on the BSE SME platform on Friday, 3 January 2025.
Details of the Citichem India IPO GMP
The chemical supplier aims to raise ₹12.6 crore from the initial market through its maiden share sale. The BSE SME issue is open for subscription till Tuesday,31 December CityChem India IPO comprises a fresh issue of 18 lakh shares worth ₹12.6 crore.
- The lead manager of the issue is Horizon Management, the registrar is Kfin Technologies.
There is no offer for sale (OFS) component in this IPO. The minimum lot size is 2,000 shares. A retail investor can bid for a minimum lot size, which requires an investment of ₹1,40,000. For high-net-worth individuals, the minimum investment is ₹2,80,000.
Reservation of the Citichem India IPO GMP
Under the equity share allotment, 8.54 lakh shares will be allotted to non-institutional and retail investors, while 92,000 equity shares will be allotted to market makers.
About the Company
- The company supplies food preservatives and chemicals under its proprietary brand. With a combined experience of over 25 years.
- The company promoters bring deep expertise in sourcing, negotiating, and managing supply chains, ensuring the delivery of high-quality products at competitive prices.
- FY24 the company achieved revenue of Rs 1,960.58 lakh, EBITDA of Rs 179.29 lakh, and PAT of Rs 111.83 lakh.
- The significant improvement in RONW from FY2023 to FY2024 reflects better utilization of equity to generate returns.
- The net proceeds from the IPO will be used to acquire assets, purchase transport vehicles and accessories, and meet capital expenditure for general corporate purposes.
- CityChem India Limited is primarily engaged in the procurement, procurement, and supply of organic and inorganic chemicals, bulk drugs, and food chemicals to the pharmaceutical industry.
- The specialty chemicals and intermediates traded have wide applications in aluminum, steel, textiles, paper, dairy, paints, colors and intermediates, soap making, pharma, food, and adhesives industries.
Citichem India Limited ( BSE SME IPO ) Detail Analysis –
— Ashish Garg (@Ashishkafunda) December 27, 2024
IPO Details –
IPO Date: 27th – 31st Dec 2024
Price Band: ₹70 ( Fixed Price )
Lot Size: 2000 shares
Face Value: ₹10
IPO Size: ₹12.60 Cr ( Fully Fresh Issue )
Business Overview – Engaged in the procurement and supply of… pic.twitter.com/sP6X7C9rDk
Conclusion
Citichem India Limited offers a strong opportunity for investors with exposure to the chemical and pharmaceutical sectors. With a strong product portfolio, experienced leadership, and a growing market landscape, the company is well-positioned for future growth. Especially for those who want to take advantage of India’s industrial and pharmaceutical expansion.
Jay Chavda He is the Founder and Writer of businesspulsecare.com. He is an I.T Engineer, Freelancer, Businessman. He posts Business, Stock/Share Market, Finance Related News and updates on the website. 🔗