The Technichem Organics IPO has entered its second day, drawing significant interest from retail and non-institutional investors alike. This SME IPO, proposed for listing on the BSE SME Exchange, has shown promising momentum, with positive signals from the grey market premium (GMP). The public issue is set to raise ₹25.25 crore and offers a price band of ₹52 to ₹55 per equity share.
Key Highlights of Technichem Organics IPO
| Details | Information |
|---|---|
| IPO Price Band | ₹52 to ₹55 per equity share |
| IPO Size | ₹25.25 crore |
| IPO Lot Size | 2000 shares per lot |
| Subscription Period | December 31, 2024 – January 2, 2025 |
| Registrar | Bigshare Services Private Limited |
| Lead Manager | Shreni Shares |
| Allotment Date | January 3, 2025 |
| Listing Date | January 7, 2025 |
| Proposed Listing Exchange | BSE SME Exchange |
Grey Market Premium (GMP) Insights
The grey market has shown a positive sentiment toward Technichem Organics IPO. As of today, shares are trading at a ₹15 premium in the grey market, reflecting strong investor confidence.
Subscription Status
On Day 1, the IPO witnessed robust demand:
- Retail Segment: Subscribed 13 times
- Non-Institutional Investor (NII) Segment: Subscribed 6.5 times
- Overall Subscription: Approximately 8 times
Company Overview and Financial Performance
Technichem Organics Limited operates in the chemical sector, offering a range of specialized products. Despite a year-over-year (YoY) revenue dip of 8% in FY24, the company demonstrated an impressive 175% surge in Profit After Tax (PAT).
- Market Capitalization: ₹95.27 crore
- IPO Objectives: The proceeds from this public issue will support business expansion, working capital requirements, and other corporate purposes.
Expert Review and Investment Outlook
Technichem Organics has garnered attention due to its robust financial turnaround and promising growth potential in the chemical sector. Analysts view the IPO positively, citing the attractive price band and strong grey market demand as key indicators of future performance.
However, investors are advised to conduct their own due diligence, considering market volatility and the SME nature of the listing, which typically involves higher risk.
Timeline for Investors
| Event | Date |
|---|---|
| IPO Opens | December 31, 2024 |
| IPO Closes | January 2, 2025 |
| Allotment Finalization | January 3, 2025 |
| Refund Initiation | January 4, 2025 |
| Shares Credited to Demat | January 6, 2025 |
| Listing on BSE SME Exchange | January 7, 2025 |
Disclaimer: The information provided in this article is based on public sources and expert opinions. Investors should exercise caution and consult with financial advisors before making investment decisions.
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