Shiv Texchem IPO Day 1: Issue subscribed nearly 4 times on high retail demand; check price band & more

Shiv Texchem Limited IPO witnessed strong demand across investor categories on Tuesday, October 8, the first day of bidding, as the issue was booked nearly four times.

The BSE SME issue was booked 3.79 times with bids for nearly 1.54 crore shares compared to 40.60 lakh shares on offer, the stock exchange data at 5pm on Tuesday showed.

On the first day of subscription, retail individual investors applied for over 98 lakh shares against 20.3 lakh shares set aside for the category. The retail portion of the IPO was booked 4.83 times. The Non-Institutional Investors applied for 19.8 lakh shares compared to 8.7 lakh shares reserved for the segment, leading to a subscription of 2.27 times in the category.

The Qualified Institutional Buyers (QIBs) booked their quota 3.11 times with applications for more than 36.11 lakh shares compared to 11.6 lakh shares set aside the category.

Shiv Texchem IPO offer size, price band and lot size

The ₹101.35-crore book-building public offer of Shiv Texchem Limited consists of a fresh issue of 61.06 lakh shares, including a market maker portion of 3.05 lakh shares. Shiv Texchem IPO price band has been fixed at ₹158 to ₹166 per share.

Retail investors can place bids for a minimum lot size of 800 shares, which amounts to an investment of ₹1,32,800. On the other hand, high-net-worth individuals (HNIs) can place bids for a minimum lot size of 2 lots or 1,600 shares, amounting to ₹2,65,600.

Shiv Texchem IPO dates

Shiv Texchem IPO subscription is open from Tuesday, October 8 to Thursday, October 10. The IPO share allotment status is likely to be finalised on Friday, October 11. After the share allocation is finalised, refunds will be initiated for unsuccessful bidders on Monday, October 14, and successful bidders will receive shares of Shiv Texchem in their Demat accounts the same day. Shares of Shiv Texchem will be listed on the BSE SME platform. The tentative listing date for Shiv Texchem shares is Tuesday, October 15.

Shiv Texchem Key financials

Shiv Texchem’s revenue for the June quarter of FY25 stood at ₹567.07 crore. The company’s Profit-After-Tax stood at ₹10.05 crore while its net worth was ₹202.93 crore for the same period.

In FY24, Shiv Texchem’s revenue increased over 37% to ₹1,536.68 crore compared to ₹1,118.66 crore in FY23. The company’s net profit grew over 87% to ₹30.11 crore in FY24 against ₹16.02 crore in FY23.

Shiv Texchem IPO Registrar

The registrar for Shiv Texchem IPO is Link Intime India Private Ltd, and the book-running lead manager for the issue is Vivro Financial Services Private Limited. The market maker for the BSE SME issue is Rikhav Securities.

Shiv Texchem Promoters

Shiv Texchem’s promoters include Vikas Pavankumar, Hemanshu S. Chokhani, Pavankumar Sanwaria Realty Private Limited and Hemanshu Syntex Private Limited. The promoters of the company jointly held 100% stake in the company ahead of the issue.

Shiv Texchem IPO objective

The company plans to use the money raised via the public issue for meeting long-term working capital needs and general corporate purposes.

About Shiv Texchem Limited

Shiv Texchem Limited was established in 2005. The company is an importer and distributor of hydrocarbon-based secondary and tertiary chemicals. The products made by the company are used as raw materials by industries such as paints, coatings, printing inks, agrochemicals, pharmaceuticals, specialty polymers and other such industries. The company had 50 permanent employees as of March 31, 2024.