Indian Emulsifier IPO booked 460 times on last day: Check subscription status, allotment and listing

Indian Emulsifier Limited IPO subscription closed with a bumper demand for shares on the final day of bidding on Thursday, May 16. The initial public offer was booked 460.07 times.

The public issue received bids for over 98.45 crore shares against 21.40 lakh shares on offer, according to the NSE data.

The non-institutional investors (NII) category led subscription with highest demand in the category. The NIIs’ segment was booked 779.96 times with biddings for over 35.87 crore shares against 4.6 lakh shares on offer.

The retail category was subscribed 484.54 times as investors applied for over 51.84 crore shares against 10.7 lakh shares on offer. The Qualified Institutional Buyer (QIB) category was subscribed 175.95 times, with bids for 10.73 crore shares against 6.1 lakh shares reserved for the segment.

The Indian Emulsifier IPO is a book-built issue worth ₹42.39 crore. The IPO comprised an entirely fresh issue of 32.11 lakh shares.

The NSE SME IPO was open for subscription from May 13 to May 16.

Indian Emulsifier Limited IPO price band and other details

The Indian Emulsifier IPO had a price band set between ₹125 and ₹132 per share, with a minimum lot size of 1,000 shares for retail investors. This translated to a minimum investment of ₹1,32,000. High Net-Worth Individuals (HNIs) were required to apply for a minimum of two lots, or 2,000 shares, amounting to ₹2,64,000.

For the Indian Emulsifier IPO, Ekadrisht Capital Private Limited is the book running lead manager, and Maashitla Securities Private Limited serves as the registrar.

Indian Emulsifier Limited IPO allotment and listing

The Indian Emulsifier IPO share allotment status is expected to be finalised on May 17. The company will initiate refunds for unsuccessful applicants and transfer the shares into the Demat accounts of the allottees by May 21.

The listing date for the Indian Emulsifier IPO is set for May 22, on the NSE SME platform, Emerge.

Indian Emulsifier Limited objective

Indian Emulsifier Limited plans to use the net proceeds from the issue primarily for funding capital expenditure related to plant and machinery, civil work, and installation costs. Additionally, the company plans to allocate funds to meet its working capital requirements. A portion of the proceeds will also be directed towards general corporate purposes.

About Indian Emulsifier Limited

Indian Emulsifier Limited was incorporated in December 2020. The company manufactures specialty chemicals such as esters, amphoterics, phosphate esters, imidazolines, wax emulsions, SMO and PIBSA emulsifiers. These chemicals are used in industries like mining, textiles and food. The company’s manufacturing plant is in Ratnagiri, Maharashtra. It also has two warehouses in Maharashtra, one in Raigad and another in Ratnagiri.

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