October 3, 2024
New Delhi, India
NSE SME
Unilex Colours and Chemicals made a quiet entrance on the stock exchange on Monday, September 30, as its shares listed at ₹89 on NSE SME, just 2.3% above the IPO price of ₹87.
IPO Overview:
- IPO Price Range: ₹82-87 per share
- Listing Price: ₹89 on NSE SME, a modest premium of 2.3%
- IPO Size: ₹31.32 crore
- Subscription Period: September 25 to September 27
- Total Subscriptions: 35.03 times
- Retail Investors: 35.11 times
- Non-Institutional Investors (NII): 60.74 times
- Qualified Institutional Buyers (QIBs): 15.58 times
Despite the strong demand during the bidding process, the IPO listing was relatively subdued.
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IPO Details:
The Unilex Colours IPO was entirely a fresh issue of 36 lakh shares, with no offer-for-sale component. The minimum investment for retail investors was set at 1,600 shares, amounting to ₹1.39 lakh.
Use of Proceeds:
The company plans to use the proceeds for:
- Working capital requirements
- Debt repayment
- General corporate purposes
About Unilex Colours and Chemicals:
Founded in March 2001, Unilex Colours and Chemicals Limited is involved in the manufacturing of pigments, trading chemicals, and producing food colors. The company operates under the “Unilex” brand, serving both domestic and international markets across industries.
Their packaging solutions include:
- Multi-layer paper bags
- Corrugated boxes
- HDPE and HDPE-coated bags
- Jumbo bags, and more.
Financial Performance:
Unilex Colours and Chemicals saw a 3% revenue increase and a 24% rise in profit after tax (PAT) between the fiscal years ending March 31, 2023, and March 31, 2024, indicating steady financial growth.
Though the IPO was highly subscribed, Unilex Colours and Chemicals had a relatively muted debut, reflecting a modest 2.3% premium over the issue price. Investors will keep an eye on its future performance as the company continues to expand its presence in the pigment and chemicals industry.
