Shivam Chemicals IPO: The initial public offering (IPO) of Shivam Chemicals and Minerals opened for subscription today, April 23. The company has been receiving decent demand for the public issue that will end on April 25.
Shivam Chemicals IPO is an SME IPO and the equity shares of the company will list on BSE SME.
Let us check Shivam Chemicals IPO GMP today, subscription status and other key details.
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Shivam Chemicals IPO Subscription Status
Shivam Chemicals IPO has been subscribed 0.35 times so far on April 23, the first day of the bidding process. The public issue received bids for 15.33 lakh equity shares as against 43.56 lakh shares on the offer, as per data available till 12:30 pm.
The public issue was subscribed 0.61 times in the retail category and 0.09 times in the Non-Institutional Investors (NII) category so far.
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Shivam Chemicals IPO GMP Today
Shivam Chemicals IPO is not commanding any premium or discount in the grey market, as per market observers. This is because Shivam Chemicals IPO GMP today, or grey market premium, is 0.
Shivam Chemicals IPO Details
Shivam Chemicals IPO opened for subscription today, Tuesday, April 23, and will close on Thursday, April 25. The IPO allotment is expected to be finalized on April 26 and Shivam Chemicals shares will be listed on BSE SME with a tentative listing date fixed as April 30.
Shivam Chemicals IPO is an SME IPO and a fixed price issue of ₹20.18 crore which is entirely a fresh issue of 45.87 lakh equity shares. The company has fixed Shivam Chemicals IPO price band at ₹44 per share. The IPO lot size is 3,000 shares and the minimum investment amount required by retail investors is ₹132,000.
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The company proposes to utilize the net IPO proceeds towards funding working capital requirements, investment in a subsidiary company for financing the augmentation of its working capital capabilities and general corporate purposes.
Aryaman Financial Services is the book-running lead manager of the Shivam Chemicals IPO, while Cameo Corporate Services is the IPO registrar.
Sanjiv Vasant, Soham Vasant and Shivam Vasant are the promoters of Shivam Chemicals. The company is engaged in distributing animal feed or poultry products and is also in the business of manufacturing hydrated lime.
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Published: 23 Apr 2024, 12:35 PM IST
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