The SME IPO, Accent Microcell Limited, which is engaged in producing premium cellulose-based excipients for Pharmaceutical, Nutraceutical, Food, Cosmetic, and related industries, received a massive influx of subscriptions from investors. As of writing this article, the IPO is still open and continues to receive subscriptions from various participants.
IPO Subscription
The company’s IPO has received an overwhelming response from all categories of investors, whether retail, QIB, or NII. As of December 12, 2023, at 4:21 PM (Day 3), the Accent Microcell IPO has been subscribed 360.27 times. The public issue has seen a subscription of 405.80 times in the retail category, 118.48 times in the QIB category, and 576.42 times in the NII category.
| Category | Subscription (x) | Shares offered | Shares offered in Rs Cr | Bids Received | Bids Received in Rs Cr |
| Retail | 406 | 18,62,000 | 26 | 75,56,02,000 | 10,578 |
| NII | 576 | 7,98,000 | 11 | 45,99,83,000 | 6,440 |
| QIB | 118 | 10,64,000 | 15 | 12,60,62,000 | 1,765 |
| Total | 360 | 37,24,000 | 52 | 1,34,16,47,000 | 18,783 |
IPO Size and Price Range
The price range for the IPO is Rs 133 to Rs 140 per share, and the lot size is set at 1,000 shares. The total issue size amounts to Rs 78.40 crore, involving the offering of 56,00,000 lakh shares by the company. The IPO consists solely of a fresh offer, excluding any Offer for Sale. It will be listed on both NSE and BSE.
The IPO of Accent Microcell has successfully garnered Rs 22.34 crore from anchor investors.
IPO Proceeds
The Company intends to utilise the issue proceeds for the following objects: Firstly, it involves the establishment of a manufacturing plant at Navagam Kheda dedicated to producing Croscarmellose Sodium (“CCS”), Sodium Starch Glycolate, and Carboxymethylcellulose (CMC). Secondly, the funds will also be directed towards covering general corporate expenses.
Financial Performance
| Particulars | Q1 FY24 (Rs Lakh) | FY23 (Rs Lakh) | FY22 (Rs Lakh) |
| Revenue | 5,992.95 | 20,696.75 | 16,753.97 |
| Revenue Growth | – | 24% | 24% |
| Profit After Tax | 705.53 | 1,301.02 | 589.31 |
| PAT Growth | – | 121% | 23% |
| Net Worth | 5,125.44 | 4,419.91 | 3,209.32 |
| Reserves and Surplus | 3,831.14 | 3,125.61 | 1,919.02 |
| R&S Growth | – | 63% | -14% |
| Total Borrowing | 2,105.73 | 2,278.23 | 2,409.53 |
| Borrowing Trend | – | -5% | -21% |
Company profile
Accent Microcell Limited is engaged in producing premium cellulose-based excipients primarily tailored for the Pharmaceutical, Nutraceutical, Food, Cosmetic, and related industries. The company was incorporated in 2012. Distinguished by its commitment to meeting global quality benchmarks, the company has excelled in crafting top-tier cellulose-based excipients.
Operating from two cutting-edge manufacturing facilities situated in Ahmedabad and Dahej SEZ in Bharuch, these facilities have been instrumental in establishing a robust international sales network. Serving a clientele spanning India and over 45 countries, including prominent markets like the USA, Canada, Germany, UK, Japan, China, and Australia.
Accent Microcell Limited specialises in producing Microcrystalline Cellulose, a colourless and odourless refined cellulose powder extracted from highly purified wood pulp. This versatile substance serves various purposes such as texturizing, anticaking, binding, lubrication, bulking, and dilution across industries like Pharmaceutical, Nutraceutical, Food, Cosmetic, and more.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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