Accent Microcell IPO opens on December 8, price band set at ₹133-140 per share
- Accent Microcell IPO to open on December 8 and close on December 12 with a price band of ₹133-140. Lot size is 1,000 shares.
Accent Microcell IPO will open for subscription on Friday, December 8, and will close on Tuesday, December 12. Accent Microcell IPO price band is set in the range of ₹133 to ₹140. Accent Microcell IPO lot size 1,000 shares. Investors can bid for a minimum of 1000 shares and in multiples thereof. The face value of the equity shares is ₹10 each and the issue price is 13.30 times to 14.00 times of the face value of the equity shares at the lower price band and the upper price band. The allocation to anchor investors for Accent Microcell IPO is scheduled to take place Thursday, December 7.
Accent Microcell Limited is a manufacturer of premium cellulose-based excipients, primarily serving the food, cosmetic, nutraceutical, and pharmaceutical industries. The company has established a speciality in the production of superior cellulose-based excipients that satisfy global quality requirements. The business runs two cutting-edge manufacturing sites: Dahej SEZ in Bharuch and Pirana Road in Ahmedabad.
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Accent Microcell saw an increase in revenue from ₹165.71 crore in FY22 to ₹204.19 crore in FY23. The company recorded revenue of ₹58.81 crore for the first quarter of FY24, which concluded on June 30. Profit after tax (PAT) at Accent Microcell more than doubled from Rs. 5.89 crore in FY22 to Rs. 13.01 crore in FY23. The company achieved Profit After Tax (PAT) of ₹7.06 crore in Q1 of FY2023-24.
The company's listed peers is Sigachi Industries Limited (with a P/E of 16.70), as per Red Herring Prospectus (RHP).
Accent Microcell IPO details
Accent Microcell IPO, which is worth ₹78.40 crore, is completely a fresh issue of 5,600,000 equity share; there is no offer for sale (OFS) component, according to RHP. While the anchor portion has set aside 15.96 lakh equity shares, the market maker portion has set aside 2.8 lakh equity shares, the QIB portion has set aside 10.64 lakh equity shares, the NIIs have been assigned 7.98 lakh equity shares, and the Retail (RII) portion has set aside 18.62 lakh equity shares.
Out of the net proceeds from the offering, Accent Microcell intends to use ₹54.39 crores to build a new plant in Navagam Kheda, Gujarat, India, to produce carboxymethylcellulose (CMC), sodium starch glycolate (SSG), and croscarmellose sodium (CCS). The plant is anticipated to go into commercialisation by April 2025.
The Accent Microcell IPO's book running lead manager is Corporate Capitalventures Pvt Ltd, and the issue's registrar is Kfin Technologies Limited. Prabhat Financial Services is Accent Microcell's market maker.
Vinodbhai Manibhai Patel, Ghanshyam Arjanbhai Patel, Nitin Jasvantbhai Patel, and Vasant Vadilal Patel are the company's promoters.
Accent Microcell IPO GMP today
Accent Microcell IPO GMP today or grey market premium is +110. This indicates Accent Microcell share price were trading at a premium of ₹110 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Accent Microcell share price is ₹250 apiece, which is 78.57% higher than the IPO price of ₹140.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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