Citichem India IPO: Citichem India Limited, a leading supplier of chemicals, has announced its Initial Public Offering (IPO). The IPO will be open for subscription from December 27, 2024, to December 31, 2024. This IPO has garnered significant attention from investors due to its well-established reputation in the chemical supply industry.
IPO Details
- Issue Type: Fixed Price Issue
- Issue Size: ₹12.60 Crores (1.8 million equity shares)
- Price per Share: ₹70
- Lot Size: 2,000 shares (Minimum investment of ₹1,40,000)
- Listing Platform: BSE SME
- Listing Date: January 3, 2025 (tentative)
Company Overview
Citichem India IPO: Established in 1992, Citichem India Limited specializes in the supply of organic and inorganic chemicals, bulk drugs, and food chemicals, particularly for the pharmaceutical industry. The company also caters to industries such as aluminum, steel, textiles, dairy, paint, dyes, soaps, and adhesives. Additionally, Citichem markets food preservatives and chemicals under its own brand name.
Financial Performance
The company’s financial journey over the last three fiscal years shows fluctuations in revenue but an improvement in net profits:
- FY 2022: Revenue ₹85.22 Crores; Net Profit ₹0.24 Crores
- FY 2023: Revenue ₹20.94 Crores; Net Profit ₹0.36 Crores
- FY 2024: Revenue ₹19.60 Crores; Net Profit ₹1.12 Crores
The notable increase in profits is attributed to enhanced operational efficiency and better cost management.
Objectives of the IPO
Citichem India IPO: The funds raised through the IPO will be utilized for:
- Capital Expenditure: Acquisition of assets
- Purchase of Transport Vehicles and Ancillary Equipment
- General Corporate Purposes
- Covering IPO-related Expenses
Competitive Advantages
- Experienced Promoters: Over 25 years of expertise in the chemical industry
- Focus on Quality and Innovation: High-quality products with a commitment to innovation
- Strategic Location: Ideal for serving both domestic and international markets
- Strong Customer Relationships: Long-term partnerships with clients and repeat orders
Key Dates
- IPO Opening Date: December 27, 2024
- IPO Closing Date: December 31, 2024
- Allotment Date: January 1, 2025
- Demat Credit Date: January 2, 2025
- Listing Date: January 3, 2025