Sacheerome IPO opens: Price band, lot size, objectives, key dates and all you need to know

Sacheerome IPO: Fragrance maker Sacheerome's initial public offering opened for subscription on Monday, June 9. The issue, with a price band of ₹96 to ₹102 per share, is solely a fresh issuance of 60.41 lakh shares aggregating to ₹61.62 crore.

The initial share sale will conclude on Wednesday, June 10. The price band is set at ₹96 to ₹102 per share.

Funds to the tune of ₹56.5 crore will be utilised for establishing a new manufacturing facility in Uttar Pradesh and the rest for general corporate purposes.

Sacheerome IPO: Lot size

A single lot with 1,200 shares will cost retail investors ₹1,22,400 at the cutoff price. The least investment for a high-net-worth investor is two lots worth ₹2,44,800.

Sacheerome IPO allotment and listing date

The basis of allotment of the Sacheerome IPO will likely be finalised on June 12. Refunds for non-allotees will be processed on June 13. Shares will be credited to the Demat account of allottees on the same day. The listing on the NSE SME platform Emerge will occur on June 16.

GYR Capital Advisors is the public offer's book-running lead manager, while MUFG Intime India (formerly Link Intime) is the registrar.

Sacheerome is engaged in the designing and manufacturing of fragrances and flavours. Its products follow global standards such as the International Fragrance Association (IFRA), Food Safety and Standards Authority of India (FSSAI), European Commission (EU), and Flavour Extract Manufacturers Association (FEMA).

Fragrances made by the company are used in personal care and washing, hair care, body care, home care, fabric care, grooming and other industries. Its flavours are used in beverages, bakery, dairy products, confectionery, oral care, meat products, seasonings and others.

In the financial year 2023-24, the firm had posted a 21.81% jump in its revenue to ₹86.4 crore compared to ₹70.93 crore in the previous year.

The net profit was reported at ₹10.67 crore in FY24, up 78.12% from ₹5.99 crore in FY23.