December 31, 2024
New Delhi, India
Technichem Organics Limited IPO
The initial public offering (IPO) of Technichem Organics Limited made its debut on the Indian primary market today, aiming to raise ₹25.25 crore through a fresh issue. The IPO, listed on the BSE SME Exchange, has garnered significant investor interest.
Key IPO Details
- IPO Price Band: ₹52 to ₹55 per equity share.
- IPO Size: ₹25.25 crore, entirely through fresh issue.
- Lot Size: Investors can apply in multiples of 2,000 shares per lot.
- Subscription Period: Bidding began today, 31 December 2024, and will close on 2 January 2025.
- Allotment Date: Likely to be finalized on 3 January 2025.
- Listing Date: Shares are expected to list on 7 January 2025.
Grey Market Sentiment
The grey market premium (GMP) for Technichem Organics shares stands at ₹15, reflecting optimism among investors even before the official listing.
Subscription Status
As of 2:50 PM on Day 1, the IPO was subscribed 5.18% times showing 27.27% GMP.
Company Overview
Technichem Organics Limited operates in the chemical sector and reported a mixed financial performance in FY24:
- Revenue: Declined by 8% year-on-year.
- Profit After Tax (PAT): Surged by 175%, indicating robust profitability.
Lead and Registrar Details
- Lead Manager: Shreni Shares.
- Registrar: Bigshare Services Private Limited.
Investor Insights
The IPO has attracted attention for its attractive pricing and promising profitability growth, despite a dip in revenue. The grey market premium and strong initial subscription numbers signal positive investor sentiment.
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