Citichem India IPO Subscription started on 27 December 2024 and will close on 31 December 2024. The company plans to raise INR 12.60 crore via IPO. The price band is fixed at INR 70 per share. Citichem India IPO market lot has 2,000 shares and the minimum application amount is INR 1,40,000. The retail quota is 50%, and NII is 50%.
Check Citichem India IPO subscription status here. The subscription figures are taken from BSE SME and updated regularly. Citichem India IPO subscription status is segregated by days and investor categories here.
Citichem India IPO Subscription Status – Live Updates
| Category | Non-retail | Retail | Total |
|---|---|---|---|
| Shares Offered | 8,54,000 | 8,54,000 | 17,08,000 |
| 31 Dec 2024 | 285.63 | 543.18 | 414.40 |
| 30 Dec 2024 | 85.78 | 264.63 | 175.20 |
| 27 Dec 2024 | 8.45 | 46.12 | 27.29 |
The market maker reservation portion of 92,000 shares is not included in the above calculations.
Citichem India – Business Background
Established in 1992, Citichem India is a prominent supplier specializing in the procurement and distribution of organic and inorganic chemicals, bulk drugs, and food-grade chemicals, primarily serving the pharmaceutical sector. The company has diversified its offerings to include specialty chemicals and intermediates with applications across various industries such as aluminum, steel, textiles, paper, dairy, paints, and adhesives.
With over 25 years of combined experience among its promoters, Citichem India emphasizes quality and innovation in its products, ensuring efficient distribution and safe delivery through a dedicated team. In the fiscal year 2024, the company reported revenues of INR 196.06 crore and a profit after tax of INR 11.18 crore, reflecting its robust operational framework. Citichem operates with a scalable business model that positions it well to capitalize on the growing demand within the specialty chemicals market, driven by increasing domestic consumption and export opportunities in India’s burgeoning pharmaceutical industry.
Also Read: How Many IPOs Have Withdrawn In India?
Investor Categories in Citichem India IPO Subscription
The three most important categories of IPO investors defined by SEBI are part of the Citichem India IPO.
Qualified Institutional Buyers (QIB) – Examples of QIBs are Foreign Portfolio Investors (FPIs), Scheduled Commercial Banks, Mutual Funds, Venture Capital Funds, Foreign Venture Capital Investors (FVCIs), Alternative Investment Funds (AIFs), Insurance Companies, Provident Funds and Pension Funds with a minimum corpus of INR 250 million.
Generally, 50% of the offer is reserved for QIBs. Some of these are classified as anchor investors which work towards stabilizing an IPO.
Non-Institutional Investor (NII) – These are affluent investors who can invest more than INR 200,000. In other words, these are High Networth Individuals (HNIs). Generally, 15% of the offer is reserved for this category. Bids in the category need to exceed INR 200,000. Typical examples include Category III FPIs, resident Indian individuals, HUFs (in the name of Karta), companies, corporate bodies, eligible NRIs, scientific institutions, societies, and trusts.
The NII category is further divided into two – big and small – the threshold application amount being INR 10,00,000 (INR 10 lakh).
Retail Individual Investor (RII) – This category is purely meant for small investors, whose bid must not exceed INR 200,000 per person. Usually, 35% of total shares are reserved for this category in the case of a company with profitable operations. In the event of the IPO-bound company not fulfilling this criterion, only 10% of shares are reserved for retail investors.
Employee – Shares reserved for company employees are not part of the Net Offer and there may additionally be a discount on offer price to encourage employees to subscribe. Investors in the employee category may also apply under the retail category in an IPO. Therefore, this category of IPO investors has a unique advantage.
Read Also: Motilal Oswal Home Finance Q2 FY25 – Loanbook Expands to INR 4,209 Cr, Signaling Strong Future
Citichem India IPO Subscription Status FAQs
When will the subscription for Citichem India IPO start?
Citichem India IPO is open for subscription from 27 December 2024 to 31 December 2024.
How to subscribe to Citichem India IPO?
You can subscribe to the IPO through ASBA and non-ASBA options. To use ASBA, login to your bank account and apply for the IPO online. Alternatively, you can download the form online or obtain a physical form, then submit the completed form to your broker or bank.
When will Citichem India IPO list?
Citichem India IPO is scheduled to list on 3 January 2025, at the BSE SME.