Citichem India is likely to finalise the basis of allotment of its shares on Wednesday, January 01. Applicant bidders will get the messages, alerts or emails for debit of their funds or revocations of their IPO mandate latest by Thursday, January 02. The chemical player saw a solid response from the investors during the three-day bidding process.
The IPO of Mumbai-based Citichem India was open for bidding between December 27 and December 31. It was fixed price issue at Rs 70 apiece with a lot size of 2,000 equity shares. The company raised a total of Rs 12.60 crore via IPO, which was entirely a fresh share sale of 18 lakh equity shares.
The issue was overall subscribed a whopping 414.35 times, attracting bids worth nearly Rs 5,000 crore. It managed to fetch more than 3 lakh applications. The portion for non-institutional investors (NIIs) was subscribed 277.88 times. Allocation for retail investors was booked 543.18 times during the three-day bidding process.
The grey market premium (GMP) of Citichem India has seen some correction despite a strong bidding for the issue. Last heard, the company was commanding a premium of Rs 20 in the unofficial market, suggesting a listing gains of around 29-30 per cent for the investors. The GMP stood at Rs 30 on the first day of the bidding.
Incorporated in 1992, Citichem India is engaged in buying and supplying organic and inorganic chemicals, bulk drugs, and food chemicals to the the pharmaceutical industry. The company focuses on the direct supply of specialty chemicals, bulk drugs, and intermediate products. The company had 9 employees as of June 30, 2024.
Horizon Management is the book running lead manager of the Citichem India IPO, while Kfin Technologies is the registrar for the issue. The market maker for Citichem India IPO is Aftertrade Broking. Shares of the company shall be listed on BSE SME platform on Friday, January 03, 2025.
Investors, who had bid for the issue of Citichem India, can check the allotment status on the Bombay Stock Exchange (BSE) website:
1) Visit https://www.bseindia.com/investors/appli_check.aspx
2) Under the issue type, click Equity
3) Under the issue name, select Citichem India Limited in the dropbox
4) Write the application number
5) Add the PAN card ID
6) Click on 'I am not a Robot' and hit search button
Investors can also check the allotment status on the online portal of KFin Technologies Limited (https://kosmic.kfintech.com/ipostatus), the registrar to the issue.
The registrar is a Sebi-registered entity, qualified to act as such and which electronically processes all applications and carries out the allotment process, as per the prospectus. The registrar is responsible for complying with the timelines for updating the electronic credit of shares to successful applicants, dispatching and uploading refunds, and attending to all investor-related queries.
1) Go to the web portal of KFin Technologies Limited
2) Select the IPO in dropbox whose name will be populated only if the allotment is finalized
3) You may be required to select either one of the three modes: Application number, Demat Account number, or PAN ID
4) In application type, select between ASBA and non-ASBA
5) Enter the details of the mode you selected in Step 2
6) For security purposes, fill the captcha accurately
7) Hit submit.