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Citichem India IPO is a fixed price issue of ₹12.60 crores. The issue is entirely a fresh issue of 0.18 crore shares of ₹12.60 crore.
Citichem India IPO bidding started from Dec 27, 2024 and ended on Dec 31, 2024. The allotment for Citichem India IPO was finalized on Jan 1, 2025. The shares got listed on BSE SME on Jan 3, 2025.
Citichem India IPO price is ₹70.00 per share . The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹1,40,000 (2000 shares). The minimum lot size investment for HNI is 2 lots (4,000 shares), amounting to ₹2,80,000.
Horizon Management Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The market maker of the company is Aftertrade Broking Pvt.Ltd..
Refer to Citichem India IPO RHP for detailed Information.
| IPO Date | December 27, 2024 to December 31, 2024 |
| Listing Date | January 3, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹70 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 18,00,000 shares (aggregating up to ₹12.60 Cr) |
| Reserved for Market Maker | 92,000 shares Aftertrade Broking Pvt.Ltd. (aggregating up to ₹0.6440 Cr) |
| Net Offered to Public | 17,08,000 shares (aggregating up to ₹11.96 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 50,00,000 shares |
| Share Holding Post Issue | 68,00,000 shares |
Citichem India IPO offers total 18,00,000 shares. Out of which 8,54,000 (47.44%) allocated to NII, 8,54,000 (47.44%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 92,000 (5.11%) |
| NII (HNI) Shares Offered | 8,54,000 (47.44%) |
| Retail Shares Offered | 8,54,000 (47.44%) |
| Total Shares Offered | 18,00,000 (100.00%) |
Citichem India IPO opens on December 27, 2024, and closes on December 31, 2024.
| IPO Open Date | Fri, Dec 27, 2024 |
| IPO Close Date | Tue, Dec 31, 2024 |
| Tentative Allotment | Wed, Jan 1, 2025 |
| Initiation of Refunds | Thu, Jan 2, 2025 |
| Credit of Shares to Demat | Thu, Jan 2, 2025 |
| Tentative Listing Date | Fri, Jan 3, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Dec 31, 2024 |
Investors can bid for a minimum of 2,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,40,000 |
| Retail (Max) | 1 | 2,000 | ₹1,40,000 |
| HNI (Min) | 2 | 4,000 | ₹2,80,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 1992, Citichem India Limited is engaged in buying and supplying organic and inorganic chemicals, bulk drugs, and food chemicals to the the pharmaceutical industry.
The company focuses on the direct supply of specialty chemicals, bulk drugs, and intermediate products.
It trades in specialty chemicals and intermediates that have a wide range of applications across industries such as aluminum, steel, textiles, paper, dairy, paints, dyes and intermediates, soap making, pharmaceuticals, food, and adhesives.
The company also supplies food preservatives and chemicals under its brand name, which are then sold through its distribution team, ensuring the safe delivery of bulk supplies.
The company supplies products such as Caustic Soda Flakes, Caustic Soda Lye, Citric Acid Monohydrate, Hydrogen Peroxide, and more.
Business division:
As of June 30, 2024, The company has 9 employees.
Competitive Strengths:
Citichem India Limited's revenue decreased by -6% and profit after tax (PAT) rose by 208% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 6,851.56 | 6,932.79 | 7,972.53 | 9,142.69 |
| Total Income | 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 |
| Total Borrowing | 108.21 | 108.21 | 109.65 | 110.62 |
| Amount in ₹ Lakhs | ||||
The market capitalization of Citichem India IPO is ₹47.60 Cr.
KPI as of Sun, Mar 31, 2024.
| KPI | Values |
|---|---|
| ROE | 15.42% |
| ROCE | 21.47% |
| Debt/Equity | 0.15 |
| RoNW | 15.42% |
| PAT Margin | 5.70% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 2.24 | 1.17 |
| P/E (x) | 31.3 | 59.65 |
The Company intends to utilize the Net Proceeds from the Fresh Issue towards the following objectives:
[Dilip Davda] The company is mainly engaged in supplying third party products in organic/inorganic chemicals, bulk drugs, food chemicals, Pharmaceuticals, etc. It marked drastic de-growth in its top lines for the reported periods, but net margin surged from FY24 onwards that raise eyebrows and concern over its sustainability going forward as it is operating in a highly competitive and fragmented segment. Higher spending for IPO process hints at structured and managed funding. Small equity base post-IPO indicates longer gestation for migration. Based on its recent super earnings, the issue appears aggressively priced. There is no harm in skipping this “High Risk/Low Return” bet. Read detail review...
| Listing Date | January 3, 2025 |
| BSE Script Code | 544324 |
| NSE Symbol | |
| ISIN | INE0A8401016 |
| Final Issue Price | ₹70 per share |
| BSE Listing Group | M |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹70.00 |
| Open | ₹70.00 |
| Low | ₹66.50 |
| High | ₹70.00 |
| Last Trade | ₹68.28 |
Citichem India Ltd.
7, Floor-1, Plot-96,
Dharam Jyoti, Kazi Sayed Street, Khand Bazar,
Masjid Station, Mandvi
Mumbai, Maharashtra, 400003
Phone: +91- 9223278100
Email: cs@citichemindia.com
Website: https://www.citichemindia.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: citichemindia.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
Citichem India IPO is a SME IPO of 18,00,000 equity shares of the face value of ₹10 aggregating up to ₹12.60 Crores. The issue is priced at ₹70 per share. The minimum order quantity is 2000.
The IPO opens on December 27, 2024, and closes on December 31, 2024.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Citichem India IPO using UPI as a payment gateway. Zerodha customers can apply in Citichem India IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Citichem India IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Citichem India IPO opens on December 27, 2024 and closes on December 31, 2024.
Citichem India IPO lot size is 2000, and the minimum amount required for application is ₹1,40,000.
You can apply in Citichem India IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Citichem India IPO will be done on Wednesday, January 1, 2025, and the allotted shares will be credited to your demat account by Thursday, January 2, 2025. Check the Citichem India IPO allotment status.
The Citichem India IPO listing date is on Friday, January 3, 2025.
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