Citichem India Ltd. was incorporated on March 18, 1992. The company specializes in procuring and supplying organic and inorganic chemicals, bulk drugs, and food chemicals to the pharmaceutical industry, with applications spanning aluminium, steel, textiles, paper, dairy, paints, dyes, soaps, food, and adhesives
| Bidding Dates |
|---|
| 27 Dec 2024 - 31 Dec 2024 |
| Subscription |
|---|
| 393.22x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,40,000 | 1 | 1 | 2000 | 1.8 M | ₹70 | 61.21 % | ₹126.0 M | RHP DOC |
Citichem India Ltd. IPO SUBSCRIPTION STATUS
31 Dec '24Citichem India Ltd. IPO overall subscription rate was 393.22 times the total available shares
Citichem India Ltd. IPO retail subscription rate was 522.67 times in the retail segment
Citichem India Ltd. IPO non-institutional investor subscription rate was 263.78 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
31 Dec 2024 (Day 3) | 522.67x | 263.78x | - |
30 Dec 2024 (Day 2) | 253.08x | 82.11x | - |
27 Dec 2024 (Day 1) | 43.78x | 8x | - |
Citichem India Ltd. FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| Q1FY25 | 2.0 | 11.0 | -4.3 | -4.3 | 25.9% |
| FY24 | 11.2 | 196.1 | 5.5 | 5.5 | 9.1% |
| FY23 | 3.6 | 209.4 | 2.8 | 2.4 | 2.8% |
| FY22 | 2.4 | 852.2 | -59.7 | -59.8 | 0.5% |
Citichem India Ltd. IPO SUBSCRIPTION STATUS DETAILS
Citichem India Ltd. had 1.8 M shares on offer
Citichem India Ltd. IPO offer price was ₹70
Citichem India Ltd. IPO minimum Investment was ₹140000
Citichem India Ltd. IPO issue size was ₹ 126.0 M
Citichem India Ltd. had a minimum lot size of 2000 Shares per application
Citichem India Ltd. NUMBER OF SHARES ON OFFER
Citichem India Ltd. IPO IMPORTANT DATES
| Issue Open Date | 27 Dec 2024 |
| Issue close Date | 31 Dec 2024 |
| Allotment Date | 01 Jan 2025 |
| Refund Date | 02 Jan 2025 |
| Demat Account Credit Date | 02 Jan 2025 |
| Listing Date | 03 Jan 2025 |
| Listing on Exchange(s) | BSE |
| Citichem India Ltd. Allotment Status | Exchange |
Citichem India Ltd. IPO subscription opened on 27 Dec 2024, and closed on 31 Dec 2024
IPO allotment for Citichem India Ltd. was finalized on Wednesday, 01 Jan 2025
IPO listing for Citichem India Ltd. was on BSE on Friday, 03 Jan 2025
Citichem India Ltd. IPO LISTING GAINS
| Issue Price (adjusted) | 70.0 |
| Listing Open Price | 70.0 |
| Listing Close Price | 68.3 |
| Listing Gain% | 0.0% |
| Current Gain% | -75.7% |
Citichem India Ltd. Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Citichem India Ltd. | 17 | 11.6 | 11.5 | -0.6 | 0.7 | 4.7 | 1.8 | 15.5 | -71.7 | 1 | -18.5 | 1.5 | -18.5 |
| Adani Enterprises Ltd. | 3010 | 407376.8 | 54.7 | 3.3 | 3.7 | 11.5 | 3.6 | 102943.2 | 2.6 | 9339.5 | 31.6 | 55 | 16.7 |
| Redington Ltd. | 353.2 | 27612.3 | 16.2 | 4 | 0.2 | 14.7 | 4.4 | 119347.4 | 19.9 | 1490.2 | -7.1 | 21.8 | 4.1 |
| Lloyds Enterprises Ltd. | 82.6 | 12468.2 | 44 | 0.1 | 7.1 | 6.8 | 3.9 | 2183.7 | 39 | 283.4 | 396.5 | 1.9 | 396.5 |
| Swan Corp Ltd. | 307.5 | 9638.8 | 35.2 | -0.6 | 2.2 | 3.6 | 2 | 5143.5 | -25.3 | 274.1 | -63.7 | 8.7 | -63.7 |
| MMTC Ltd. | 64 | 9592.5 | 24.8 | 0.1 | 2813 | 18.3 | 13.8 | 180.6 | -31.3 | 387.4 | 347.2 | 2.6 | 347.2 |
Citichem India Ltd. INFORMATION ON IPO ISSUE
About Citichem India Ltd.
Citichem India Ltd. was incorporated on March 18, 1992. The company specializes in procuring and supplying organic and inorganic chemicals, bulk drugs, and food chemicals to the pharmaceutical industry, with applications spanning aluminium, steel, textiles, paper, dairy, paints, dyes, soaps, food, and adhesives
Object of the Issue
- To meet the capital expenditure requirements for the acquisition of property
- To purchase vehicles and accessories
- General corporate purposes
- To meet issue expenses
Citichem India Ltd. - PROMOTERS
| Name |
|---|
| Arif Esmail Merchant |
| Hashim Arif Merchant |
| Fozia Arif Merchant |
| Saima Hashim Merchant |
Citichem India Ltd. Lead Manager of the Issue
Horizon Management Private Limited
akash.das@horizon.net.co
Citichem India Ltd. Registrar to the issue
Kfin Technologies Limited
citichemindia.ipo@kfintech.com
Citichem India Ltd. Strengths
Scalable business model
The company operates a scalable, customer-centric, and order-driven business model focused on resource optimization, quality supply, and economies of scale, driven by new market development, marketing expertise, and consistent product quality
Focus on quality and innovation
The company's strength lies in its focus on quality and innovation, sourcing products from credible suppliers and delivering only quality-certified items as part of its stringent quality management practices
Location advantage
The company focuses on reducing trading costs by procuring chemicals at competitive prices, ensuring quality assurance, and optimizing transportation to deliver materials promptly. This approach minimizes costs, ensures consistent supply, and maintains quality standards
Citichem India Ltd. Risks
Risks of accidents
The company trades hazardous, corrosive, and flammable industrial chemicals, requiring expert handling and storage. Accidents could lead to loss of life or property, operational disruptions, and adverse effects on results, cash flows, and financial condition
Lack of insurance coverage
The company lacks insurance coverage, leaving it unprotected against material hazards that could disrupt operations or cause monetary losses due to work stoppages
Availability, cost, and quality of materials
The business depends heavily on the availability, cost, and quality of materials, which are influenced by factors beyond control, such as economic conditions, competition, supplier availability, production levels, transportation costs, and import duties
IPO FAQs
The promoters of the company are Arif Esmail Merchant, Hashim Arif Merchant, Fozia Arif Merchant and Saima Hashim Merchant.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 70.0 - 70.0.
The IPO application opens on Dec 27, 2024 and closes on Dec 31, 2024.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 140,000.0, the maximum value for this IPO is Rs 140,000.0.
This IPO will be allotted on Jan 01, 2025.
The refund will be credited to your account on Jan 02, 2025.
The allotted shares will be credited to your demat on Jan 02, 2025.
Citichem India Ltd.’s shares listed on the stock exchanges on Jan 03, 2025.