Here is the new Citichem India IPO that was issued in 2024. The Bidding started on 27 December 2024 and ended on 31 December 2024. The Allotment will be finalized on 1 January 2025, and the refund will be initiated on 2 January 2024. Also, the share will be credited on 2 January 2025, and the stock will be listed on the Indexes on 3 January 2024.
The issue size is approx ₹12.60Cr and the price range will be ₹70/- (I can see the fixed price there is no option for range). The lot size is 2,000 shares then the minimum investment amount will be ₹1,40,000/-. In this blog, I will give you the insights details, reports, and finances of the Citichem India IPO.
Citichem India Overview
Founded in 1992, Citichem India Limited has its headquarters in Mumbai, Maharastra. The company actively buys and supplies pharmaceutical companies with organic and inorganic chemicals, drugs, and food chemicals. The company also deals in Aluminum, steel, textiles, paper, paints, soaps, adhesives, and dairy products. Citichem India Limited strongly holds pharmaceutical APIs, food repackaging, and retail distribution. The company’s maximum business was in the Maharashtra region where its revenue share was 97% and the remaining share was in Gujarat approx 3%.
Objective of Citichem India IPO
Citichem India has listed the following reasons to raise funds through the IPO (Initial Public Offer):-
- The primary objective for the IPO is to utilize funds for the requirement of working capital.
- The company also stated that it will use funds to purchase new vehicles(for transportation) and their accessories.
- Funds are also used in issue expenses and general corporate expenses.
Citichem India IPO Details, Important Points
| Stock Symbol | CITICHEM |
| Industry | Pharmacuticles |
| Issue Size | ₹12 Cr |
| Lot Size | Pharmaceuticals |
| Price Range | ₹70 (fixed) |
| Bid Start Date | 27th Dec 2024 |
| Bid End Date | 30th Dec 2024 |
| Allotment Date | 01st Jan 2025 |
| Refund and Share Credit Date | Pharmaceuticals |
| Listing Date | 03nd Jan 2025 |
| Mandate End Date | 02nd Jan 2025 |
| Lock-in end Date | 01st Arp 2025 |
| Prospectus | Download |
Citichem India GMP, Kostak Trends, Sauda
| Date | GMP Price | Kostak | Subject to Sauda |
| 31-Dec 2024 | ₹ 20 | – | 30,400 |
| 30-Dec 2024 | ₹ 30 | – | 45,600 |
| 29-Dec 2024 | ₹ 30 | – | 45,600 |
| 28-Dec 2024 | ₹ 30 | – | 45,600 |
| 27-Dec 2024 | ₹ 30 | – | 45,600 |
Citichem India valuation
All the valuations are in crores(Cr) INR. The source of the information is from Screener. If you want to see more detail on the IPO then follow my blog here.