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Business News/ Markets / Ipo/  Shivam Chemicals IPO Day 3: Issue subscribed 4 times so far; check GMP, price band, other key details of SME IPO
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Shivam Chemicals IPO Day 3: Issue subscribed 4 times so far; check GMP, price band, other key details of SME IPO

Shivam Chemicals IPO is an SME IPO and a fixed price issue of ₹20.18 crore which is entirely a fresh issue of 45.87 lakh equity shares. The company has fixed Shivam Chemicals IPO price band at ₹44 per share.

Shivam Chemicals IPO opened for subscription on Tuesday, April 23, and will close on Thursday, April 25. (Photo: Company Website)Premium
Shivam Chemicals IPO opened for subscription on Tuesday, April 23, and will close on Thursday, April 25. (Photo: Company Website)

Shivam Chemicals IPO: The initial public offering (IPO) of Shivam Chemicals and Minerals has been receiving decent response from invetsors. Shivam Chemicals IPO that opened for subscription on April 23 will close today, April 25.

Shivam Chemicals IPO is an SME IPO and the equity shares of the company will list on BSE SME.

Let us check Shivam Chemicals IPO GMP today, subscription status and other key details on the last day of the bidding.

Shivam Chemicals IPO Subscription Status

Shivam Chemicals IPO has been subscribed 4 times so far on April 25, the third and the last day of the bidding process. The public issue received bids for 1.73 crore equity shares as against 43.56 lakh shares on the offer, as per data available till 2:30 pm.

The public issue has been subscribed 5.95 times in the retail category and 2.03 times in the Non-Institutional Investors (NII) category so far.

Also Read: Swiggy IPO: Food delivery company gets shareholder approval for $1.2 billion public issue - Report

Shivam Chemicals IPO GMP Today

Shivam Chemicals IPO is not commanding a grey market premium of 2 per share, as per market observers. This indicates that Shivam Chemicals IPO GMP today is 2 per share and the stock is trading higher by 2 in the grey market than its issue price of 44 per share.

Considering the GMP today and the IPO price, Shivam Chemicals IPO listing is estimated to be at 46 per share, a premium of 4.55% to the issue price.

Shivam Chemicals IPO Details

Shivam Chemicals IPO opened for subscription on Tuesday, April 23, and will close today, April 25. The IPO allotment is expected to be finalized on April 26 and Shivam Chemicals shares will be listed on BSE SME with a tentative listing date fixed as April 30.

Shivam Chemicals IPO is an SME IPO and a fixed price issue of 20.18 crore which is entirely a fresh issue of 45.87 lakh equity shares. The company has fixed Shivam Chemicals IPO price band at 44 per share. The IPO lot size is 3,000 shares and the minimum investment amount required by retail investors is 132,000. 

Also Read: Vodafone Idea FPO shares to debut at bourses on Thursday, stock slumps over 9% ahead of listing; check latest GMP

The company proposes to utilize the net IPO proceeds towards funding working capital requirements, investment in a subsidiary company for financing the augmentation of its working capital capabilities and general corporate purposes.

Aryaman Financial Services is the book-running lead manager of the Shivam Chemicals IPO, while Cameo Corporate Services is the IPO registrar.

Sanjiv Vasant, Soham Vasant and Shivam Vasant are the promoters of Shivam Chemicals. The company is engaged in distributing animal feed or poultry products and is also in the business of manufacturing hydrated lime.

Read all IPO news here

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Published: 23 Apr 2024, 12:35 PM IST
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