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Business News/ Markets / Stock Markets/  Indian Emulsifier share price lists with stellar 225% premium, at 430 on the NSE SME
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Indian Emulsifier share price lists with stellar 225% premium, at ₹430 on the NSE SME

Indian Emulsifier share price listed with stellar 225% premium at ₹430 a piece on the NSE SME on Wednesday. The Issue that opened for subscription on the Monday 13 May 2024, had closed on Friday 17 May 2024. The price band for the IPO application stood at ₹125-132 a share.

Indian Emulsifier share price sees a stellar debutPremium
Indian Emulsifier share price sees a stellar debut

Indian Emulsifier share price listed with stellar 225% premium at 430 a piece on the NSE SME on Wednesday. 

Indian Emulsifier share price post listing hit highs of 451.50 and lows of 410.05 

The Issue that opened for subscription on the  Monday 13 May 2024, had closed on Friday 17 May 2024. The issue received an overwhelming response being subscribed 460 times and 484 times in the retail category. The Grey Market premium or the GMP  of the Indian Emulsifiers IPO also indicated towards firm listing of Indian Emulsifiers share price.

The GMP or Grey Market Premium for the Indian Emulsifier IPO stood at +240, as per investorgain.com data. This showed that the price of Indian Emulsifier shares were selling at a premium of 240 in the Grey market.

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The Indian Emulsifier IPO projected listing price thereby stood at   372 per share. In other words market participants were factoring  Indian Emulsifier Share price listing at 372, which was 181.82% more than the IPO price of 132, taking into account the upper end of the IPO pricing band and the current premium on the grey market.

The 42.39 crore Indian Emulsifier IPO comprises a new issue of 3,211,000 equity shares having a face value of 10 and there isn't any component of offer for sale. 

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The net proceeds from the issue will be used by Indian Emulsifier to finance the following objectives:  covering the cost of the civil work and its installation; covering the working capital needs of the company; covering the capital expenditure requirements for plant and machinery; and for general corporate purposes. 

For Indian Emulsifier IPO investors had to bid in the price band of   125 to 132 per share , with minimum lot size for an application at 1000 Shares and multiples thereafter

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Indian Emulsifiers is a manufacturer and seller of specialized chemicals, including wax emulsions, imidazolines, phosphate esters, esters, and amphoteric. The company was founded in 2020. The business provides more than 40 specialty chemicals to a variety of sectors, such as food, mining, textile, PVC/rubber, cleaning, and personal care.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions

 

 

 

 

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Published: 22 May 2024, 10:05 AM IST
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