Citichem India IPO Opens For Subscription: GMP, Price Band, Issue Size And Financials
Citichem India IPO opens Dec 27 at ₹70/share, closing Dec 31. Engage in the SME platform with a minimum 2,000 shares bid. Expected listing price: ₹100.
Citichem India IPO Opens For Subscription: GMP, Price Band, Issue Size And Financials
Citichem India IP News: This Friday, December 27, the Citichem India IPO lifts off. Subscriptions close on Tuesday, December 31. The price for these equity shares is set at 70 rupees each. They have a face value of 10 rupees. You can bid for at least 2,000 shares. After that, you can add in multiples of 2,000. Since 1992, Citichem India Limited has operated in the business world.
They trade organic and inorganic chemicals, bulk drugs, and food chemicals. These products are for the pharmaceutical sector. They focus their efforts on providing specific chemicals, bulk drugs, and intermediate products in BSE SME platform. Their goods are valuable to many businesses, such as the aluminum, steel, and textile industries.
Dairy, paints, dyes, soap, pharmaceuticals, food, and adhesive sectors use its products. They also produce and sell food preservatives and chemicals. They do this through their own brand and distribution team. This ensures safe delivery of these bulk items.
The company's competitors are Shankar Lal Rampal DyeChem Ltd with a Price to Earning (P/E) of 91.33, and Vinyl Chemicals Ltd with a P/E of 361.05, according to the red herring prospectus (RHP). For the financial year ending in 2024, the company made ₹1,960.58 Lakhs in revenue. Their EBITDA amounted to ₹179.29 Lakhs while their Profit after Tax (PAT) came out to ₹111.83 Lakhs. As of June 24, they've already made ₹109.75 Lakhs.
Their EBITDA for this period is at ₹28.38 Lakhs and their PAT is ₹19.95 Lakhs. Citichem India IPM GMP profits will fund various projects, such as large purchases, vehicle acquisitions, and general corporate needs. They will also handle IPO-related expenses. Horizon Management Private Ltd is managing the Citichem India IPO's books.
Kfin Technologies Ltd is functioning as the registrar. Aftertrade Broking Pvt Ltd is slated to be the market maker for this IPO. Today, Citichem India shares GMP stands at +30. This means that these shares hold a premium of ₹30, reports investorgain.com. Based on the IPO's upper price and the current grey market premium, Citichem India's listing price might land at ₹100 each. This potential price is a 42.86% jump up from the IPO price of ₹70.
