Kolkata: The GMP (Grey market Premium) of Citichem India IPO, a SMR issue, stood at Rs 30 on December 25 and 26, according to investorgain. This piece of data indicates a significant listing gain of 42.86% for Citichem India shares. Considering an issue price of Rs 70 (fixed price), the listing price stood at Rs 100 on these 2 days. However, it must be remembered that GMP is an unofficial indicator which changes with time and does not really guarantee anything.
Citichem India IPO, a SME issue, has been designed to raise Rs 12.60 crores from the market. It does not have any OFS (Offer For Sale) and consists only of fresh shares – 18 lakh of them. Citichem India was set up in 1992. It is in the business of supplying organic and inorganic chemicals, bulk drugs, and food chemicals to the pharmaceutical industry. The issue proceeds will be used for capital expenditure, purchase of transportation vehicles/accessories and general corporate purposes.
Citichem India IPO allotment date, refund date
The process of allotment for Citichem India IPO shares is scheduled will be completed on Wednesday, January 1, 2025. The process of application for purchase of shares is set to begin today – Friday, December 27, 2024. The process of bidding will continue till December 31, 2024. The process of refunding application money to the investors who would not get shares will be done on January 2. On the same day, successful bidders will get the shares credited to their demat account.
The shares of Citichem India IPO will list on SME segment of BSE. The listing will take place on Friday, January 3, 2025. For a retail investor the minimum investible lot consists of 2,000 shares which requires an application money of Rs 1,40,000. For HNIs, the minimum lot size for investment consists of 2 such lots, or 4,000 shares. It entails and application money of Rs 2,80,000. The book running lead managers to the SME IPO is Horizon Management Private Ltd. Kfin Technologies is the registrar to the issue. Aftertrade Broking Pvt Ltd is the market maker.
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Bidding process of Citichem India IPO will end on December 31, 2024. Each share is priced at Rs 70 and the minimum investment required is Rs 1.4 lakh. The date of allotment is January 1, 2025. The date of refund of application money is January 2. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
