Citichem India Limited is all set to launch its Initial Public Offering (IPO), with shares available for subscription from December 27, 2024, to December 31, 2024. The company has fixed the issue price at ₹70 per share, aiming to raise up to ₹12.60 crore by issuing fresh equity shares.
Citichem India IPO Details
- Issue Price: ₹70 per share
- Issue Size: Up to ₹12.60 crore
- Listing Date: January 3, 2025
- Subscription Dates: December 27 to December 31, 2024
Citichem India was founded in 1992 and has become a key player in the distribution of specialty chemicals, bulk drugs, and intermediate products. It serves various industries, including pharmaceuticals, food, textiles, paper, aluminum, and paints. The company focuses on high-quality products that are used in critical production processes, making it an essential supplier across multiple sectors. With a strong reputation in the market, Citichem India has positioned itself well for future growth, which is one of the main reasons behind its decision to go public.
Investors who wish to apply for the Citichem India IPO can do so through their bank accounts or online trading platforms. The minimum investment amount is determined by the number of shares bought, which is referred to as the lot size. The IPO allows investors to bid for a minimum of 2,000 equity shares, with the option to buy additional shares in multiples of 2,000.
The Grey Market Premium (GMP) represents the unofficial trading price of an IPO share before it is officially listed on the stock exchange. For the Citichem India IPO, the GMP is currently ₹30, meaning that investors in the grey market are ready to pay ₹30 above the issue price of ₹70. This implies that they anticipate the shares will list at approximately ₹100 per share, reflecting a high level of demand from investors for the IPO.
The Citichem India IPO offers a great opportunity for investors to participate in the growth of a well-established company in the chemical distribution sector. With a fixed issue price of ₹70 and a promising grey market premium of ₹30, Citichem India could be a good investment for those looking to invest in the pharmaceutical and chemicals industries. Ensure that you carefully evaluate the company’s financials, growth prospects, and the risks involved before making an investment decision.
The IPO can be subscribed to from December 27, 2024, until December 31, 2024. Make sure to apply before the deadline if you’re interested in participating in this IPO.
