Shivam Chemicals IPO share allotment expected on April 26, check status online
Upstox
3 min read • Updated: April 26, 2024, 5:21 PM
Summary
Shivam Chemicals IPO was subscribed 6.65 times on the last day of subscription on Thursday, April 26. Shivam Chemicals IPO share listing date is tentatively scheduled on Tuesday, April 30. The stock will be listed on the BSE SME platform.
Shivam Chemicals IPO share allotment status is expected to be finalised by the company on Friday, April 26.
The initial public offering worth ₹20.18 crore saw a decent demand from the investors during the subscription period from April 23 to April 25. The maiden public issue of the chemical manufacturer was subscribed 6.65 times, with bids received for 2.9 crore shares against the 43.56 lakh shares on offer, according to BSE data.
The investors, who participated in the Shivam Chemicals IPO bidding, can check their allotment status online through the official websites of the IPO registrar, Cameo Corporate Services Limited, and the BSE.
Steps to check the allotment status of Shivam Chemicals IPO via registrar’s website
- Visit the official website of Cameo Corporate Services Limited at cameoindia.com.
- On the homepage, click on "IPO" which will direct you to a new page.
- From the drop-down menu for ‘company name’, select Shivam Chemicals Limited.
- Enter your application number or PAN number along with DPID Client ID.
- Click on submit to view your allotment status.
It’s important to note that the name of the company and the share allocation details will only appear on screen after the company finalises the allotment status.
Alternatively, investors can check the allotment status via the official website of the BSE using their PAN and bank account details.
Shivam Chemicals IPO listing date
Shares for successful bidders are expected to be credited into their Demat accounts on Monday, April 29. Refunds for non-allottees will also be initiated on the same day. The shares are tentatively set to be listed on the BSE SME platform on Tuesday, April 30.
Shivam Chemicals IPO details
Shivam Chemicals IPO comprises a fresh issue of 45.87 lakh shares, with no offer for sale (OFS) portion. Additionally, there is a market maker allocation of 2.31 lakh shares for Shreni Shares, as is common in SME IPOs.
Shivam Chemicals IPO price band and other details
The IPO was a fixed price issue with the issue price fixed at ₹44 per share. The lot size for retail investors was set at 3000 shares, amounting to an investment of ₹1.32 lakh, and in multiples thereof. For High Net Worth Individuals (HNIs), the minimum lot size was 2 lots or 6,000 shares, totalling an investment of ₹2.64 lakh.
The company aims to raise ₹20.18 crore from the market through the IPO. Proceeds from the issue to the tune of ₹7.05 crore will be used to meet its working capital needs, ₹5.62 crore for investment in subsidiary firm -- Shivam Chemicals and Minerals Pvt Ltd-- to enhance its working capital capabilities and ₹5.01 crore for general corporate purposes.
About Shivam Chemicals
Shivam Chemicals Ltd. (SCL) produces Hydrated Lime (Calcium Hydroxide) and distributes a range of products including Poultry Feed Supplement (MBM), Di-Calcium Phosphate (Feed Grade), Magnesium Oxide and Limestone Powder.