The initial public offering (IPO) of Technichem Organics Limited has officially launched today, marking its entry into the Indian primary market. Investors are keenly watching this IPO as it unfolds, with several key details emerging on its first day.
IPO Overview
- IPO Price Band: The price band for Technichem Organics’ IPO is set between ₹52 to ₹55 per equity share.
- Issue Size: The company aims to raise approximately ₹25.25 crore from this public issue.
- Bidding Period: The IPO opened today at 10:00 AM and will remain available for bidding until 5:00 PM on January 2, 2025.
- Lot Size: Investors can apply in lots, with one lot comprising 2,000 shares.
Grey Market Premium (GMP)
As of today, shares of Technichem Organics are trading at a premium of ₹11 in the grey market, indicating positive investor sentiment ahead of the official listing. This premium suggests that there is strong demand for the shares among investors.
Subscription Status
While the subscription numbers are still being compiled, early indications suggest that there is considerable interest in the IPO. Investors are advised to keep an eye on the subscription levels as the bidding period progresses.
Key Dates
- Allotment Date: The finalization of share allocation is expected on January 3, 2025.
- Listing Date: Technichem Organics is anticipated to be listed on the BSE SME Exchange on January 7, 2025.
Company Performance and Market Review
Technichem Organics has reported a market capitalization of approximately ₹95.27 crore. In its latest financial year (FY24), the company experienced an 8% year-on-year decline in revenue, but notably saw its profit after tax (PAT) surge by around 175%, showcasing a significant improvement in profitability despite revenue challenges.
Conclusion
The launch of Technichem Organics’ IPO presents an exciting opportunity for investors looking to participate in the growing chemical sector. With a favorable grey market premium and strong demand signals, this IPO could be a promising investment avenue as it navigates through its bidding phase.
Disclaimer
This article is based on current market data and trends related to Technichem Organics’ IPO as of December 31, 2024. Market conditions can change rapidly; therefore, readers are advised to conduct their own research or consult financial experts before making investment decisions.
