Shivam Chemicals IPO subscribed over 6 times: Check subscription, price band, allotment and other details
Upstox
3 min read • Updated: April 25, 2024, 7:43 PM
Summary
Shivam Chemicals Ltd IPO share allotment status is expected to be finalised on Friday, April 26. Investors can check the status of Shivam Chemicals IPO share allotment on the BSE website and the official website of IPO registrar, Cameo Corporate Services Ltd.
Shivam Chemicals Ltd IPO was booked more than 6 times on the final day of bidding on Thursday, April 25. The initial public offer witnessed strong demand from retail investors and was oversubscribed on the first day of bidding itself.
The chemicals manufacturer and distributor launched the initial public offer on April 23, to raise around ₹20.18 crore from public investors. The issue comprised a fresh issue of 45.87 lakh equity shares and no offer for sale component. The IPO was open for subscription on the BSE SME platform.
According to BSE data, Shivam Chemicals Ltd IPO was subscribed 6.65 times as of 5 pm on Thursday. Bids for 2.90 crore equity shares worth ₹127.63 crore were received against net issue size of 43.56 lakh equity shares.
Garnering strong demand from retail investors, shares reserved for the category were subscribed 8.88 times. Bids for more than 1.93 crore shares were received against 21.78 lakh shares reserved for the segment.
Non-institutional investors’ category was subscribed 4.43 times with bids for 96.51 lakh shares against 21.78 lakh shares on offer for the segment. The NII category attracted strong bids on the final day as the portion was booked just 95% in the first two days of the bidding.
Shivam Chemicals Ltd IPO details
The ₹20.18 crore Shivam Chemicals IPO was a fixed price issue. The IPO price was fixed at ₹44 per share for the public investors. The minimum lot size was 3000 shares for retail investors. The minimum amount of investment was ₹132,000 for retail investors.
Aryaman Financial Services Ltd is the book-running lead manager. Cameo Corporate Services Limited is the IPO registrar and Shreni Shares is the market maker.
Shivam Chemicals IPO share allotment and listing
Shivam Chemicals Ltd IPO share allotment status is expected to be finalised on Friday, April 26. Investors can check the status of Shivam Chemicals IPO share allotment on the BSE website and the official website of IPO registrar, Cameo Corporate Services Ltd.
Shivam Chemicals will list shares on the BSE SME platform with the tentative listing date scheduled as April 30.
Shivam Chemicals IPO objective
Shivam Chemicals is a manufacturer of hydrated lime (Calcium Hydroxide) and a distributor of products such as poultry feed supplement, Di-Calcium Phosphate (Feed Grade), Magnesium Oxide and Limestone Powder.
The company distributes animal feed products for various well-renowned manufacturers. Its average monthly sales volume is 2,650 tonnes. The company’s wholly-owned subsidiary, Shivam Chemicals and Minerals Pvt Ltd, which manufactures hydrated lime is located at Dahej Gujarat and manufacturers.
The company has proposed to invest ₹7.05 crore to fund working capital requirement. It has proposed to invest ₹5.62 crore in Shivam Chemicals and Minerals Pvt Ltd for financing the augmentation of its working capital capabilities and another ₹5.01 crore for other general corporate purposes.