The Citichem India IPO is scheduled to open for subscriptions on December 27 and finish on December 31. The price range for each share is ₹70. The business, which specializes in chemicals for a range of industries, intends to raise ₹12.60 crore for corporate and capital expenses.
The Citichem India initial public offering (IPO) is scheduled to begin subscriptions on Friday, December 27, and end on Tuesday, December 31. The pricing range for Citichem India's initial public offering (IPO) has been set at 70 per equity share, with a face value of ₹10 apiece. A minimum of 2,000 stock shares may be bid on, and after that, multiples of 2,000 equity shares may be bid on.Citichem India Limited was established in 1992 and is focused on buying and selling bulk medications, food chemicals, and organic and inorganic chemicals for the pharmaceutical industry. The company focuses on providing bulk medications, intermediate products, and specialized chemicals directly. Aluminum, steel, textiles, paper, dairy, paints, dyes and intermediates, soap manufacturing, pharmaceuticals, food, and adhesives are just a few of the industries in which it interacts with specialty chemicals and intermediates.
In order to ensure the safe delivery of bulk goods, the company also sells chemicals and food preservatives under its own brand, which are promoted via its distribution network.
According to the Red Herring Prospectus (RHP), Vinyl Chemicals (I) Ltd. (P/E of 361.05) and Shankar Lal Rampal DyeChem Ltd. (P/E of 91.33) are the company's listed peers.
The company made ₹1,960.58 Lakhs in sales, ₹179.29 Lakhs in EBITDA, and ₹111.83 Lakhs in PAT during the fiscal year 2024. As of June 24, the business has made 109.75 lakhs in revenue, 28.38 lakhs in EBITDA, and 19.95 lakhs in PAT.
Details of Citichem India's IPO
The new issue of 18,00,000 equity shares, totaling ₹12.60 crore, is part of the Citichem India IPO. The offer for sale (OFS) component is absent.
The company intends to use the net proceeds from the new issue for a number of goals, such as capital investments to buy real estate, buying cars and their accessories, general business needs, and paying for the issue's costs.
Kfin Technologies Ltd. is the registrar for the Citichem India IPO, while Horizon Management Private Ltd. is the book running lead manager. The market maker for the Citichem India IPO is Aftertrade Broking Pvt Ltd.
Today's Citichem India IPO GMP is +30. According to investorgain.com, this shows that the share price of Citichem India was trading at a premium of ₹30 on the grey market.
The expected listing price of Citichem India shares is ₹100 per share, which is 42.86% more than the IPO price of ₹70, taking into account the upper end of the IPO pricing band and the existing premium on the grey market.
Investors' willingness to pay more than the issue price is shown by the "grey market premium."
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