Citichem India IPO presents an intriguing opportunity for investors, with a book-built issue valued at ₹12.60 crores. The offering consists of a fresh issue of 18.00 lakh shares, raising ₹12.60 crores, aimed at funding the company’s growth and operational requirements. This IPO provides a mix of growth capital and liquidity for stakeholders, making it a noteworthy event for market participants keen on exploring new investment opportunities.
The IPO is open for subscription from December 27, 2024 and closes on December 31, 2024, offering investors a limited window to participate in this opportunity. The price band is set between ₹70 per share, providing flexibility for bidders within this range. Investors can apply in multiples of the lot size of 2,000 shares, making the minimum investment of 1,40,000. With its structured bidding process and competitive pricing, this IPO is set to attract attention from retail and institutional investors alike. Citichem India IPO will list on NSE SME with tentative listing date fixed as Thursday, January 3, 2025.
Refer to Citichem India IPO RHP for detailed information.
Citichem India IPO Details
| IPO Date | December 27, 2024 to December 31, 2024 | ||
| Listing Date | 03 January, 2025 | ||
| Face value | ₹10 per share | ||
| Price band | ₹70 per share | ||
| Lot size | 2,000 Shares | ||
| Total Issue Size | 18,00,000 shares (aggregating up to ₹44.80 Cr) | ||
| Fresh Issue | 18,00,000 shares (aggregating up to ₹ 44.80 Cr) | ||
| Offer for Sale | 0 | ||
| Issue Type | Fixed Price Issue IPO | ||
| Listing At | NSE SME | ||
| Share Holding Post Issue | 68,00,000 shares | ||
| Market Maker Portion | 92,000 shares Aftertrade Broking Pvt Ltd |
Citichem India IPO Lot Size calculator
| Application | Lots | Share | Amount |
| Retail (Min) | 1 | 10,000 | ₹1,40,000 |
| Retail (Max) | 1 | 10,000 | ₹1,40,000 |
| HNI (Min) | 2 | 20,000 | ₹2,80,000 |
Citichem India IPO Distribution
| Investor Category | Shares Offered |
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 92,000 (5.11%) |
| Other Share Offered | 8,54,000 (47.44%) |
| Retail Shares Offered | 8,54,000 (47.44%) |
| NII (HNI) Shares Offered | 18,00,001 (100%) |
Citichem India Company
Established in 1992, Citichem India Limited specializes in procuring and supplying organic and inorganic chemicals, bulk drugs, and food chemicals to the pharmaceutical industry.
The company prioritizes the direct supply of specialty chemicals, bulk drugs, and intermediates, catering to diverse sectors.
Its product range includes specialty chemicals and intermediates with applications across industries such as aluminum, steel, textiles, paper, dairy, paints, dyes, soap manufacturing, pharmaceuticals, food, and adhesives.
Additionally, the company markets food preservatives and chemicals under its brand, distributed through a dedicated network to ensure safe bulk deliveries.
Key products include Caustic Soda Flakes, Caustic Soda Lye, Citric Acid Monohydrate, Hydrogen Peroxide, and more.
Business Divisions
- Specialty Chemicals, Intermediates & Active Pharmaceutical Ingredients (API): Expertise in indenting, sourcing, make-to-order outsourcing, and supplying specialty chemicals, bulk drugs, and APIs for pharmaceutical, paint, and food industries, serving domestic and global clients.
- Food Chemicals: Engages in repackaging, retail distribution, and marketing of food-grade chemicals.
- Laboratory Chemicals: Offers a comprehensive range of laboratory chemical solutions.
As of June 30, 2024, the company has a team of 9 employees.
Competitive Strengths
- Experienced promoters and management team
- Scalable business model
- Commitment to quality and innovation
- Strategic location advantage
- Strong relationships with suppliers and customers
- Dedicated after-sales network
Citichem India Company Finances
Amount in ₹ Lakhs
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Total Borrowing | 108.21 | 108.21 | 109.65 | 110.62 |
| Assets | 6,851.56 | 6,932.79 | 7,972.53 | 9,142.69 |
| Revenue | 149.07 | 1,960.58 | 2,094.07 | 8,528 |
| Profit after tax | 19.95 | 111.83 | 36.26 | 23.94 |
| Net Worth | 745.06 | 725.11 | 613.27 | 577.01 |
| Reserves and Surplus | 245.06 | 225.11 | 113.27 | 77.01 |
Citichem India IPO – Apply or Not
Citichem India IPO appears to be a promising opportunity, especially given the current market sentiment and the company’s strong fundamentals. The IPO is an SME offering, which inherently carries potential for significant listing gains, often in the range of 2X to 3X. Despite not being open yet, the Grey Market Premium (GMP) is already at 42.86%, reflecting strong investor interest and positive anticipation. The company, established in 1992, has built a solid foundation in the fertilizers and packaging sectors, showcasing consistent growth with a turnover exceeding ₹20 crores. Its diverse product portfolio, focus on customer needs, and emphasis on quality and technological upgrades enhance its competitive edge in the market. For investors looking for both short-term and long-term opportunities, this IPO is worth considering. Applying in this IPO could be a strategic move to capitalize on potential listing gains, and for those with a higher risk appetite, holding the stock with a proper trailing stop loss could yield further benefits, as the company’s fundamentals support sustainable growth over time.
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