Technichem Organics IPO Itemizing: Shares listed at nominal premium of 4%, then higher circuit imposed – INA NEWS

Technichem Organics Itemizing: The itemizing of shares of chemical sector firm Technikem Organics on BSE SME on January 7 was disappointing. The share was listed at Rs 57.25 with a slight premium of 4 per cent over the IPO higher value band of Rs 55. However then it elevated by 5 p.c and reached higher circuit at Rs 60.11. This value is 9 p.c greater than the IPO value.

The corporate manufactures a variety of chemical substances, specialty chemical substances, pigment and dye intermediates and air oxidation chemistry. It provides its merchandise to many industries together with prescribed drugs, agriculture, coatings, pigments, dyes and many others.

IPO acquired 425.09 instances subscription

Technikem Organics’ Rs 25.25 crore IPO opened on December 31, 2024, and closed on January 2, 2025. On this 45.90 lakh new shares have been issued. The value band was Rs 52-55 per share. The IPO obtained a complete subscription of 425.09 instances. The reserve portion for certified institutional consumers was stuffed 101.49 instances, the reserve portion for non-institutional buyers was stuffed 1,078.9 instances and the reserve portion for retail buyers was stuffed 329.43 instances.

The promoters of the corporate are Bharat Jayantilal Pandya and Pandya Anilkumar Jayantilal. The corporate raised Rs 7.14 crore from anchor buyers earlier than the IPO. The proceeds from the issuance of recent shares within the IPO shall be used to fulfill the capital expenditure necessities for establishing a brand new plant, to repay debt in full or partially and for basic company functions.

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Monetary place of Technichem Organics

Technichem Organics’ income declined by 8% to Rs 46.96 crore in FY 2024, from Rs 51 crore a yr earlier. The corporate’s internet revenue elevated by 173% to Rs 4.72 crore in FY 2024 from Rs 1.72 crore in FY 2023. In April-June 2024, the corporate’s income was Rs 14.87 crore and internet revenue was Rs 1.40 crore.

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