Citichem India IPO opened for subscription on December 27, 2024, and closed on December 31, 2024.
It was a fixed price issue of ₹12.60 crore. The issue was a fresh issue of 18.00 lakh shares. The Citichem India IPO price was set at ₹70 per share.
On Day 3 of subscription, December 31, as of 6:19 PM, Citichem India IPO was subscribed 414.35 times. NIIs subscribed 277.88x, and retail investors subscribed 543.18x.
The share allotment was finalised on Wednesday, January 1, 2025, and the shares were listed on BSE SME on January 3, 2025.
On the listing day, on the BSE, Citichem India share price opened at ₹70.00, the same as its issue price of ₹70.00. At 10:18 AM, the share price was trading at ₹69.80, down by 0.29% from its opening price of ₹70.00 and its issue price of ₹70.00. As of the same time, the stock touched its day’s low at ₹66.50. The company’s market cap was ₹47.46 crore.
Citichem India specialises in the procurement and supply of organic and inorganic chemicals, bulk drugs, and food chemicals for the pharmaceutical industry. The company’s traded speciality chemicals and intermediates find applications across various sectors, including aluminium, steel, textiles, paper, dairy, paints, dyes, soaps, pharmaceuticals, food, and adhesives. Additionally, the company markets food preservatives and chemicals under its own brand name, which are subsequently distributed and sold by its distribution team, ensuring the safe delivery of bulk supplies.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
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