Citichem India IPO allotment today; check status, GMP, and listing schedule

Citichem India IPO allotment status: The basis of the allotment of shares of Citichem India is likely to be finalized today, following the closure of the subscription window for its initial public offering (IPO). Citichem India, an SME offering that comprises a fresh issue of 12,20,000 equity shares at Rs 70 apiece and a lot size of 2,000 shares, witnessed enthusiastic participation from investors, as it was oversubscribed by a whopping 414 times, according to BSE data.

 

Once the allotment of Citichem India IPO shares is finalised, investors who applied for the public offering can check the allotment status on the official websites of BSE and Kfin Technologies, which is also the registrar of the issue. 

 

Investors can also follow these direct links to check the Citichem India IPO allotment status:

 

Check Citichem India IPO allotment status on BSE: https://www.bseindia.com/investors/appli_check.aspx

 

Check Citichem India IPO allotment status on Kfin Technologies: https://ipostatus.kfintech.com/

 

The company, in its Red Herring Prospectus, stated that it intends to use the proceeds from the IPO for capital expenditure for the acquisition of property as well as for purchasing transportation vehicles and accessories. The company will also use the proceeds for general corporate purposes as well as for meeting the issue expenses. 

 

Citichem India IPO grey market premium (GMP) today

Meanwhile, the unlisted shares of Citichem India continue to command a solid premium in the grey market as the IPO allotment process is underway. Sources tracking grey market activities revealed that the company's shares were trading at Rs 90, reflecting a grey market premium (GMP) of Rs 20 or 28.57 per cent over the IPO price of Rs 70.

 

The current grey market premium (GMP) trends indicate a favorable listing for the company's shares on the BSE SME platform, scheduled on Friday, January 3, 2025. However, it is worth noting that GMP trends in unregulated grey markets may not accurately predict listing performance. Consequently, actual results may differ from projections, highlighting the importance of informed investment decisions.

 

About Citichem India

Citichem India was incorporated in 1992 and supplies organic and inorganic chemicals to the pharmaceutical industry. The company trades in specialty chemicals, bulk drugs, and intermediates for various industries. Citichem India also supplies food preservatives and chemicals under its brand name. The company operates through business divisions including specialty chemicals, food chemicals, and laboratory chemicals. As of June 2024, Citichem India had 9 employees.