Robust Debut! Sacheerome shares list at ₹153 on NSE SME, a premium of 50% from IPO price

Sacheerome IPO listing: Shares of Sacheerome IPO made a robust debut on the bourses on Monday, June 16, listing at ₹153 on NSE SME, a premium of 50 percent from its issue price of ₹102.

The SME IPO, valued at ₹61.62 crore, was open for subscription from June 9 to June 11.

Sacheerome's IPO ended on a stellar note, with the issue subscribed an impressive 312.94 times over the three-day bidding window. Investors placed bids for 125.76 crore shares as against just 40.18 lakh shares on offer. The retail investor segment saw overwhelming interest with 180.28 times subscription, while the non-institutional investor (NII) category witnessed a massive 808.56 times subscription. The portion reserved for qualified institutional buyers (QIBs) was also heavily subscribed at 173.15 times.

About the IPO

Sacheerome IPO was a completely fresh issue comprising 60.41 lakh shares, with no offer-for-sale component. The minimum application size was 1,200 shares, implying a minimum investment of ₹1.22 lakh from retail investors.

The proceeds from the IPO were allocated towards establishing a cutting-edge infrastructure facility at YEIDA. The proposed facility comprised a Manufacturing, Research & Innovation Centre, as well as a Quality Centre, Consumer Evaluation Centre, Application Centre, Administration block, and a Perfumery Training Centre. In addition to these specialized units focused on fragrances and flavours, a portion of the funds was reserved for general corporate purposes.

GYR Capital Advisors Pvt Ltd was the book-running lead manager for the issue. MUFG Intime India Pvt Ltd, formerly known as Link Intime, was appointed as the registrar for the issue. Giriraj Stock Broking Pvt Ltd took on the role of market maker for the public offering.

About the Company

Sacheerome offered a wide array of fragrances tailored for a broad spectrum of products and categories, including personal care, hair care, fine fragrances, deodorants, cosmetics, air care, candles, incense sticks, baby care, home care, fabric care, and men's grooming and hygiene items.

Additionally, the company offered nature-identical, natural, and synthetic flavours in liquid and powder formats, catering to a wide range of applications such as beverages, baked goods, confectionery, dairy products, oral care, seasonings, healthcare, and nutraceuticals. Operating within the B2B segment, Sacheerome served prominent FMCG players across both domestic and international markets.

In FY24, Sacheerome reported a significant 21.81 percent increase in revenue, reaching ₹86.4 crore, up from ₹70.93 crore in the previous financial year. The company's net profit also saw robust growth, rising 78.12 percent year-on-year to ₹10.67 crore compared to ₹5.99 crore in FY23.

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