1 week Ago By NDTV Profit News
The allotment of shares in the Rs 25.25-crore initial public offering of Technichem Organics Ltd. is set to be finalised on Friday, following a stellar subscription.
The Technichem Organics IPO, which opened on Dec. 31, was booked over 425 times on the final day of bidding on Thursday. Investors placed bids for 1,29,22,62,000 against 30,40,000 shares on offer, as per market tracking site Chittorgarh.
Technichem Organics IPO is a book built consisting entirely of fresh issuance of 45.90 lakh shares offered in the price band of Rs 52 to Rs 55 apiece at a face value of Rs 10. At the upper price band, the total offer size was valued at Rs 25.
25 crore. Retail investors could have applied with a minimum lot size of 2,000 shares, totalling Rs 1,10,000 for a single application. The Technichem Organics IPO subscription was led by non-institutional investors who booked their allocation of 6,52,000 shares more than 1078 times.
The BSE SME issue was subscribed 329.43 times by retail investors and 101.49 times by qualified institutional buyers.
With such a strong investor response, the allotment of shares in Technichem Organics IPO is expected to be highly competitive. Those who bid in the IPO can check the allotment status online via the official website of BSE, NSE and the issue's official registrar Bigshare Services Pvt. Ltd.
Head to the IPO allotment page on the BSE website here Click on 'Equity' under the Issue Type dropdown menu Select 'Technichem Organics Limited' under the company name Enter your application number or PAN Clear the 'Captcha' for verification purposes Select the 'Search' option to view your allotment status Visit the official website of the registrar BigShare Services Pvt. here Select the IPO Allotment Status option from the homepage Choose one server among the three Select 'Technichem Organics Limited' from the dropdown menu of Company Name Enter the details (Application No., Beneficiary ID or PAN) Clear Captcha Click Search to get details of your allotment status Shares of Technichem Organics Ltd.
are slated to be listed on the BSE SME platform on Jan. 7. According to InvestorGain, the grey market premium on the shares of Technichem Organics Ltd.
stood at Rs 15 as of 6:56 a.m. on Jan.
3. Going by the current Technichem Organics IPO GMP trend, the company's shares are likely to make their market debut at Rs 70 apiece, marking a premium of Rs 27.27% over the upper price band.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation. Technichem Organics has proposed the net proceeds from the IPO to fund the capital expenditure requirement for setting up a new plant. A portion of the IPO funds will be used to settle existing debts and for general corporate purposes.
Technichem Organics Ltd. is a manufacturer of chemicals including speciality chemicals, pigment and dye intermediates, and air oxidation chemistry. The company's clientele are companies working in the pharmaceuticals, agriculture, pigments and dyes, coatings and other key sectors.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids..
