Citichem India, which involved food chemicals, bulk medications, and organic and inorganic chemicals for the pharmaceutical sector, opened its BSE SME IPO for subscriptions on Friday, December 27. At Rs 70 per share.
According to exchange bid data, there was a 15.95 -fold overall subscription as investors from all categories applied for more than 2.72 crore shares out of the 17.08 lakh shares that were available.
Subcription across all categories
The mainboard issue was booked 27.16 times in the retail category. The retail investors placed bids for over 2.31 crore shares, compared to the 8.54 lakh shares reserved for them.
The Non-Institutional Investors (NIIs) category had the highest demand, with 4.74 times as many subscriptions. The NIIs applied for 40.54 lakh shares, compared to the 8.54 lakh shares that were set aside for them.
IPO size and structure
The IPO for Citichem India has a fixed price of Rs 12.60 crores. This is a brand-new 18.00 lakh share offering. 18,00,001 shares are offered in the Citichem India IPO. NII will receive 8,54,000 shares, amounting to 47.44 per cent, while RII received 8,54,000 shares, amounting to 47.44 per cent.
Price band and minimum bid
The IPO price of Citichem India is Rs 70 per share. An application must have a minimum lot size of 2000.
Retail investors are required to invest a minimum of Rs 1,40,000. For HNI, the minimum lot size investment is two lots (4,000 shares), or Rs 2,80,000.
Subscription and listing dates
Subscriptions for the Citichem India IPO went live on December 27, 2024, and the bidding will end on December 31, 2024. On Wednesday, January 1, 2025, the allocation for the Citichem India IPO is anticipated to be finalised.
The tentative listing date for the Citichem India IPO is set for Friday, January 3, 2025, on BSE SME.
Registrar and book-running lead manager
Kfin Technologies Limited is the issue’s registrar, and Horizon Management Private Limited is the bookrunning lead manager for the Citichem India IPO. Aftertrade Broking Pvt. Ltd. is the market maker for Citichem India’s initial public offering.
Company financials
In the fiscal year 2023–2024, the company’s operating revenue dropped 6.3 per cent to Rs 19.6 crore. The revenue for the same period last year was Rs 20.94 crore.
In FY24, the company’s profit after tax (PAT) increased by 208.3 per cent to Rs 1.11 crore, up from Rs 36 lakh in FY23. As of June 2, 2024, the current fiscal year’s revenue and net profit were Rs 1.09 crore and Rs 19 lakh, respectively.
