Technichem Organics IPO allotment: As the bidding period for Technichem Organics Initial Public Offering (IPO) is over, investor focus has shifted to the allotment announcement, which is expected today, January 03. The IPO ran from December 31 to January 02 and received an overall subscription of 425.09 times, according to exchange data.
The Non-Institutional Investor (NII) portion was subscribed 1,078.9 times, while the retail investor portion and Qualified Institutional Buyers (QIB) portion were subscribed 329 times and 101.49 times, respectively.
Investors can check their allotment status through the registrar, Bigshare Services Limited, or the BSE website.
Given the high level of retail oversubscription, shares will be allocated to retail individual investors (RIIs) on a proportional basis. Those who do not receive an allotment can expect the refund process to begin on December 06, 2025. Shares allotted will be credited to investors' demat accounts on the same day as the refunds.
Under the 'T+3' listing rule, public issues must be listed on or before the third day from the issue’s close. Therefore, the SME IPO is expected to be listed on the BSE SME platform on January 07, 2024. The IPO size was ₹25.25 crore, and the price band for the issue was set at ₹52 and ₹55 per share.
The net proceeds of the fresh issue are proposed to be utilised to fund the capital expenditure requirements towards the setting up of a new plant, repayment or prepayment, in full or in part, of certain borrowings availed of by the company from banks, financial institutions, and non-banking financial companies, and general corporate purposes.
Since Bigshare Services is the registrar for the SME IPO, investors can check the allotment status online on the Bigshare Services website:
Step 1: Go to the registrar Bigshare Services Pvt Ltd's website by clicking on this link: https://www.bigshareonline.com/ipo_Allotment.html
Step 2: Select any of the three servers on the Bigshare website to check the allocation status.
Step 3: Click on company selection, and thereafter, from the dropdown, select the company name 'Technichem Organics IPO'.
Step 4: Select from among any one of the following options it asks for: application number, demat account, or PAN number.
Step 5: Enter the details pertaining to the option selected.
Step 6: Hit the Search button and don't forget to enter the Captcha code.
Step 1: Visit the allotment page on BSE's official website:
Step 2: Under ‘Issue Type’, select 'Equity.’
Step 3: Choose the IPO from the ‘Issue Name’ drop-down option.
Step 4: Enter the PAN or application number.
Step 5: Click ‘I am not a robot’ to confirm your identity, then hit the ‘Submit’
Today's grey market premium (GMP) for the Technichem Organics IPO is ₹15 per share, as per the market observers, suggesting that the shares are likely to list ₹15 above their issue price. With this GMP and an issue price of ₹55 per share, the estimated listing price is around ₹70, reflecting a 27.27 per cent premium over the issue price.
The company is mainly engaged in the business of manufacturing a wide range of chemicals, including pyrazoles, pyrazolones, specialty chemicals, pigment & dye intermediates, and air oxidation chemistry that serves multiple industries, including pharmaceuticals, agriculture, coatings, pigments, dyes, and others.
Disclaimer: We advise investors to check with certified experts before taking any investment decisions.
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