Citichem India came to market through an SME IPO that opened on 27 December 2024 and closed on 31 December 2024, and the shares listed on 3 January 2025 on BSE SME. The price band was ₹70 per share and one lot was 2000 shares, so the minimum application was ₹1,40,000. The issue size was ₹12.6 crore. The whole issue was fresh shares, so the money raised went to the company.
Kfin Technologies Limited was the registrar to the issue, and Horizon Management Private Limited was the lead manager.
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Citichem India Limited, integrated in 1992, purchases and sells organic and inorganic chemicals, bulk drugs, and food chemicals to the pharmaceutical industry. This company is especially focused on supplying specialty chemicals directly to the industry of bulk drugs, intermediate products, and pharmaceutical products.It sells specialty chemicals and intermediates used in a wide variety of applications across industries including aluminum, steel, textiles, paper, dairy, paints, dyes and intermediates, soap making, pharmaceuticals, food, and adhesives.
The company also sells food preservatives and chemicals under its own brand name that are sold through its distribution team to ensure the safe delivery of bulk supplies.The company offers products like Caustic Soda Flakes, Caustic Soda Lye, Citric Acid Monohydrate, Hydrogen Peroxide, and many more.
As described in the offer document.
Mr. Arif Esmail Merchant, Mr. Hashim Arif Merchant, Mrs. Fozia Arif Esmail Merchant, Mrs. Saima Hashim Merhant. Promoter holding 83.25% before the issue and 61.21% after.
Work out the listing gain for this SME IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Citichem India IPO was a ₹12.6 crore fixed-price issue, made up entirely of a fresh issue. It was priced at ₹70 per share with a lot size of 2,000 shares (₹1,40,000). The IPO was open from December 27 to December 31, 2024. Shares listed on BSE SME on January 3, 2025 at ₹70, in line with the issue price of ₹70. Kfin Technologies Limited is the registrar. Horizon Management Private Limited is the book running lead manager.
The issue price of Citichem India IPO is ₹70 per share (fixed price).
The lot size of Citichem India IPO is 2000 shares.
The minimum investment for Citichem India IPO is approximately ₹1,40,000 based on the issue price.
The allotment date of Citichem India IPO is Jan 1, 2025.
Citichem India IPO's final recorded GMP before listing was ₹14 per share (a 20% premium over the ₹70 upper price band). The shares listed at ₹70. GMP is unofficial and does not forecast or guarantee the actual listing price.
You can check Citichem India IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Citichem India IPO allotment status on Rupix for quick and easy access.
₹70 per share, against a face value of ₹10. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 2000 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹1,40,000. After listing, SME shares also trade in lots rather than one share at a time.
₹1,40,000, for one lot of 2000 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 27 December 2024 and closed on 31 December 2024.
The basis of allotment was published on 1 January 2025 by Kfin Technologies Limited, and allotted shares were credited to demat accounts before listing.
The shares listed on 3 January 2025 on BSE SME.
The issue size was ₹12.6 crore. The fresh issue was 18,00,000 shares (aggregating up to ₹12.6 crore).