Technichem Organics IPO opens on Dec 31: Check price band, lot size, objectives and key dates

Technichem Organics IPO: The initial public offering of chemicals maker Technichem Organics will hit the primary market on Tuesday, December 31. The issue, with a price band of ₹52-₹55 per share, will conclude on Thursday, January 2, 2025.

The ₹25.25 crore BSE SME initial share sale is exclusively a fresh issuance of 45.90 lakh shares.

The net proceeds from the fresh issue will be used to fund capital expenditure requirements for setting up a new plant, debt repayment, and general corporate purposes.

Technichem Organics IPO lot size

The minimum investment for retail investors is 2000 shares worth ₹1,10,000. High-net-worth individuals need to invest a minimum of ₹2,20,000 for two lots.

Half of the net issue has been reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional investors.

Technichem Organics IPO allotment and listing date

The IPO's book running lead manager is Shreni Shares, while Bigshare Services is the registrar.

About Technichem Organics

Technichem Organics manufactures a variety of chemicals, speciality chemicals, pyrazolones, pyrazoles, pigment and dye Intermediates, and Air Oxidation Chemistry for multiple industries, including agriculture, pharmaceuticals, coatings, dyes, and pigments. It has a presence in 11 countries.

Technichem Organics financials

The company reported 7.86% decline in its revenue from operations to ₹46.39 crore in the financial year 2023-24. In the year-ago period, the revenue was ₹50.35 crore.

The profit after tax increased 174.41% to ₹4.72 crore in FY24 as against ₹1.72 crore in FY23.

For the first quarter of FY24, revenue and net profit stood at ₹14.87 crore and ₹1.40 crore, respectively.