Citichem India Ltd., a supplier of speciality chemicals, bulk drugs, and intermediate products to the pharmaceutical industry, which launched its Initial Public Offering (IPO) on December 27 will close on Tuesday, December 31. The SME issue was booked over 175 times on Monday. On its final day, the public issue has been booked over 200 times.

The company aims to raise Rs 12.6 crore through its IPO, which consists entirely of a fresh issue of 18 lakh shares.

Here is what investors must know about the offer, price band, GMP and other details of Citichem India IPO.

Citichem India IPO: All You Need To Know

Citichem India IPO will remain open for bidding between Dec. 27 and Dec. 31. 

Citichem India IPO price band has been set at Rs 70 per share, making it a fixed price issue. Retail investors are required to apply for a minimum of 2,000 shares in one lot, taking the investment amount to Rs 1,40,000 for a single lot application.

KFin Technologies Ltd. is the registrar for the Citichem India IPO, while Horizon Management Pvt. has been appointed as its book-running lead manager. Aftertrade Broking Pvt. is the market maker for the issue.

Citichem India IPO Subscription Status: Day 3

Citichem India IPO has been subscribed 205.35 times as of 10:29 a.m. on Tuesday.

  • Non-Institutional Investors: 102.79 times

  • Retail Investors: 307.48 times

The subscription status will be updated at regular intervals.

Citichem India IPO GMP Today

Citichem India IPO GMP (grey market premium) was Rs 20 apiece as of 8:27 a.m. on Dec. 31, according to InvestorGain. This projects a listing gain of 28.57%, with the shares likely to debut at Rs 90 on BSE SME if the current trends are sustained.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

Citichem India IPO Allotment And Listing Details

The allotment for the Citichem India IPO is expected to be finalised on Wednesday, Jan.1, 2025. The successful bidders will get their credit of shares to Demat accounts on Jan. 2, 2025. Refunds will be initiated for non-allottees on the same day.

Shares of Citichem India are likely to be listed on BSE SME on Friday, Jan. 3, 2025.

Citichem India IPO Subscription Status: Day 2

Citichem India IPO was subscribed 176.57 times on Monday.

  • Non-Institutional Investors: 86.42 times

  • Retail Investors: 266.29 times

Citichem India Ltd. Business And Financials

Citichem India Ltd. supplies organic and inorganic chemicals, bulk drugs, and food chemicals to the pharmaceutical industry after buying them. 

The company is involved in the direct supply of speciality chemicals, bulk drugs and intermediate products.

Use Of Proceeds

The company will use a portion of the IPO proceeds to fund capital expenditure to buy a property as well as transportation vehicles and accessories. The remainder funds will be used for general corporate purposes and issue expenses.

Financials

Citichem India Ltd. reported a revenue of Rs 1.49 crore and a net profit of Rs 19.95 lakh for the period up to June 30, 2024. In FY24, its revenue dipped by 6% to Rs 19.6 crore from Rs 20.94 crore in FY23. However, the PAT during this period rose 208% year-on-year to Rs 1.11 crore from Rs 36.26 lakh.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.

. Read more on IPOs by NDTV Profit.Citichem India IPO GMP (grey market premium) was Rs 20 apiece on Dec. 31, indicating a listing gain of 28.57% over the IPO price. The SME issue has been booked over 200 times so far.  Read MoreIPOs, Markets, Trending 

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