New Delhi: Citichem India IPO, a fixed price issue of Rs 12.60 crore, will open for subscription on December 27, 2024 and close on December 31, 2024. The SME category initial public offer’s price is fixed at Rs 70 per share. The retail investors are required to bid for a minimum lot size of 2000 shares, amounting to Rs 1,40,000. The investors applying in the HNI category are required to bid for a minimum 2 lots. The issue is entirely a fresh issue of 18.00 lakh shares.
In its draft papers filed with Securities and Exchange Board of India (SEBI), Citichem India stated that the net proceeds from the IPO will be utilised to meet capital expenditure for the acquisition of property, to purchase transportation vehicles & accessories, and for general corporate purposes.
Citichem India IPO GMP, allotment date
Citichem India IPO allotment expected on January 1, 2025. The Refunds process for unsuccessful investors likely to start on January 2. The shares are expected to be credited to the demat accounts of eligible shareholders on 2nd January. The shares will list on BSE SME tentatively January 3.
According to investorgain, Citichem India IPO GMP stood at Rs 30 on December 26 morning. With the price band of Rs 70, the shares of the company are estimated to be ousted at Rs 100, indicating gain of nearly 43 per cent. It may be noted that GMP figures are not official.
The book running lead manager of Citichem India IPO: Horizon Management Private Limited
Kfin Technologies Limited is the registrar for the SME IPO
The market maker is Aftertrade Broking Pvt Ltd
CitiChem India Limited kickstarted its business in 1987 and has emerged one of the largest distributor of industrial chemicals in India. It is engaged in the business of buying and supplying organic and inorganic chemicals, drugs, and food chemicals to the pharmaceutical industry.
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Citichem India IPO opens on December 27, and closes on December 31st. A minimum investment of Rs 140,000 (2000 shares) is required for retail investors. Allotment is expected on January 1, 2025, with listing on BSE SME tentatively on January 3. The GMP indicates a listing gain of nearly 43 per cent. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
