SME IPO: Shiv Texchem's initial public offer (IPO) opened for subscription on Tuesday, October 8. The company looks to raise ₹101.35 crore through a book-built issue. The IPO is entirely a fresh issue of 61.06 lakh shares.
The subscription window for Shiv Texchem IPO is open from October 8 to October 10, 2024, with the allotment expected to be finalised on October 11. The shares are expected to list on the BSE SME platform on October 15, 2024.
The price band for Shiv Texchem IPO is fixed between ₹158 and ₹166 per share. Investors can apply in lots of 800 shares; retail investors will need to shell out a minimum of ₹132,800 to subscribe to one lot. For high net-worth individuals (HNI), the minimum bid size is two lots (1,600 shares), priced at ₹265,600.
As of October 8, 2024, Shiv Texchem IPO GMP stands at ₹35. With a cap price of ₹166, the estimated listing price could be around ₹201, indicating a potential gain of 21.08 per cent.
Real-time subscription data, updated every 10 minutes, is sourced from the BSE SME platform. On the first day of the bidding (October 8, 2024), the subscription figures were as follows:
Qualified Institutional Buyers (QIB): 11,60,000 shares offered, 0 bids
Non-Institutional Investors (NII): 8,70,400 shares offered, 7,200 shares bid ( ₹0.12 crore)
Retail Individual Investors (RII): 20,30,400 shares offered, 57,600 shares bid ( ₹0.96 crore)
Several anchor investors have shown confidence in Shiv Texchem, including:
Finavenue Capital Trust: 200,000 shares at ₹166, totalling ₹3.32 crore
Nav Capital VCC: 205,600 shares at ₹166, totalling ₹3.41 crore
Craft Emerging Market Fund: 116,000 shares at ₹166, totalling ₹1.93 crore
Established in 2005, Shiv Texchem is a key player in the import and distribution of hydrocarbon-based chemicals. These materials are essential for industries such as paints, printing inks, and agrochemicals. The company reported a revenue of ₹1,536 crore for the fiscal year ending March 2024, with a net profit of ₹30.11 crore.
The proceeds from the IPO will be used to fund long-term working capital needs and for general corporate purposes.
IPO Open Date: October 8, 2024
IPO Close Date: October 10, 2024
Allotment Finalisation: October 11, 2024
Listing Date: October 15, 2024
Investors can apply for Shiv Texchem IPO through the ASBA process via their bank accounts. Alternatively, forms can be downloaded and submitted to brokers. Popular platforms like Zerodha, Upstox, and Paytm Money also offer seamless IPO application options.
Vivro Financial Services is the lead manager to the issue while Link Intime India is the registrar.
Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
