January 3, 2025
New Delhi, India
Citichem India IPO
Citichem India shares opened at ₹70 on BSE SME today, January 3, matching their IPO price. Despite the flat listing, the IPO had witnessed extraordinary demand, being oversubscribed by 414.35 times during its subscription period from December 27 to December 31.
Key Highlights
- IPO Performance:
- IPO size: ₹12.60 crore, entirely a fresh issue of 18 lakh shares.
- Subscription: 70.77 crore shares bid against 17.08 lakh shares on offer.
- Retail segment oversubscribed 543.18 times, while NII segment saw 277.88 times subscription.
- Shareholding Post-IPO:
- Promoter shareholding reduced to 61.21% from 83.25% pre-IPO.
- Investor Details:
- Minimum lot size: 2,000 shares.
- Minimum investment: ₹1.4 lakh per retail application.
Utilization of IPO Proceeds
Citichem India plans to allocate the ₹12.6 crore raised through the IPO toward:
- Acquiring property and transportation vehicles.
- Addressing general corporate expenses.
- Covering IPO-related costs.
About Citichem India
Operating in the chemical sector, Citichem India specializes in supplying third-party products, including organic and inorganic chemicals, bulk drugs, food chemicals, and pharmaceuticals.
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