Citichem India, a reputed name in the chemical trading and manufacturing industry, has announced its Initial Public Offering (IPO), raising significant attention in the market. With a robust product portfolio and a promising financial track record, this IPO has garnered strong interest from investors. Below, we dive into all the key details of the Citichem India IPO, including the Grey Market Premium (GMP), subscription data, and listing expectations.
Key Details of Citichem India IPO
- Issue Size: ₹12.25 crore
- Issue Price: ₹70 per equity share
- Lot Size: 2,000 shares (minimum investment ₹1,40,000)
- IPO Dates: Opens on December 27, 2024, and closes on December 31, 2024.
- Listing Platform: BSE SME
The IPO has been structured to raise funds for business expansion, acquisition of properties, and general corporate purposes.
Citichem India IPO GMP and Listing Expectations
The Grey Market Premium (GMP) for Citichem India’s IPO is currently ₹30, indicating strong demand among investors. This premium suggests a potential listing price of ₹100 per share, reflecting an impressive 43% gain over the issue price. Such enthusiasm highlights the market’s confidence in the company’s growth prospects and financial stability.
Subscription Status
On the first day of the IPO:
- Overall Subscription: 15.63 times
- Retail Segment: Subscribed 26.64 times
- NII (Non-Institutional Investors): Subscribed 4.63 times
This overwhelming response is a testament to the company’s reputation and growth trajectory.
Financial Performance of Citichem India
The company’s financial growth has been notable over the years:
- Profit After Tax (PAT):
- FY22: ₹23.94 lakh
- FY24: ₹1.12 crore (an almost fivefold increase)
- Q1 FY25 (ending June 30, 2024): ₹19.95 lakh
This strong performance underscores Citichem India’s operational efficiency and market potential.
About Citichem India
Citichem India is a key player in the chemical industry, involved in the procurement and supply of organic and inorganic chemicals, food additives, and bulk drugs. Its products are widely used across sectors, including:
- Pharmaceuticals
- Textiles
- Food processing
- Paints and adhesives
The company has established itself as a reliable partner in the chemical trading space, catering to diverse industries with quality products and services.
Important Dates to Remember
- Share Allotment Date: January 1, 2025
- Credit to Demat Accounts: January 2, 2025
- Listing Date: January 3, 2025
These timelines will help investors track the progress of their applications and prepare for trading opportunities.
Conclusion
Citichem India IPO offers a promising investment opportunity for those looking to tap into the rapidly growing chemical sector. With strong financials, a compelling GMP, and overwhelming subscription figures, this IPO could be a rewarding addition to investors’ portfolios.
For more insights and expert analysis on IPOs and the stock market, visit Research and Investment.
External Resources for Further Reading
- Learn about IPO strategies on the National Stock Exchange of India.
- Explore SME listings and market updates on BSE India.
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