Citichem India IPO opens Dec 27: Check price band, lot size, objectives and key dates

Citichem IPO: The BSE SME initial public offering of chemicals supplier Citichem India will open for subscription on Friday, December 27. It is a fixed price issue at ₹70 per share. The IPO will conclude on Tuesday, December 31.

The initial share sale is exclusively a fresh issue of 18 lakh shares worth ₹12.60 crore.

The net proceeds from the fresh issuance of shares will be used for capital expenditure for the acquisition of property, purchase of transportation vehicles and accessories, corporate general purposes and meeting issue expenses.

Citichem India IPO lot size

A retail investor can bid for at least one lot size or 2000 shares, which requires an investment of ₹1,40,000. For high-net-worth individuals, the minimum investment is ₹2,80,000.

Citichem India IPO allotment and listing date

Citichem IPO IPO allotment status is expected to be finalised on Wednesday, January 1. Citichem shares will likely be listed on BSE SME on Friday, January 3, 2025.

Horizon Management Pvt Ltd is the issue's book-running lead manager, while Kfin Technologies Ltd is the registrar. Aftertrade Broking Pvt Ltd is the market maker.

About Citichem

Citichem India is involved in buying, procuring, and supplying inorganic and organic chemicals, food chemicals, and bulk drugs to the pharmaceutical industry.

The traded speciality chemicals are used in the aluminium, steel, paper, textiles, dairy, paints, dyes, pharma, food, soap-making, and adhesive industries.

Citichem financials

The company reported a 6.3% decline in its revenue from operations to ₹19.6 crore in the financial year 2023-24. In the year-ago period, the revenue was ₹20.94 crore.

The company's profit after tax (PAT) surged 208.3% to ₹1.11 crore in FY24, compared to ₹36 lakh post-tax profit in FY23.

The revenue and net profit stood at ₹1.09 crore and ₹19 lakh, respectively, until June 2, 2024, in the current fiscal year.