IPO Watch | Cheap IPO opens for investment, will make you rich on the first day, know details including price band – IPO GMP
IPO Watch | CityChem India Limited was launched on Friday 27 December 2019. CityChem India Limited Company IPO will be open for investments from December 27 to December 31, 2024. Citychem India Limited will raise Rs 12.60 crore through this IPO. The company will issue 1800,000 equity shares through this IPO.
Company IPO Share Price Band
The price band for Citychem India Limited Company IPO has been fixed at Rs 70 per share. Citychem India Limited Company IPO shares will be listed on BSE SME platform. Investors will receive 2,000 equity shares in one lot of the IPO.
How much is company IPO GMP?
According to the update of Investorgain.com, the IPO share of Citychem India Company is trading at a premium of Rs 30 in the unlisted market i.e. grey-market. This means the stock can be listed on the BSE SME platform at Rs 100. This means that investors can get at least 43 percent returns on the first day.
Other details about IPO
Manager Horizon Management and Registrar KFIN Technologies are the lead managers of the CityChem India IPO. CityChem India supplies food preservatives and chemicals to customers under its proprietary brands. The company has approximately 25 years of experience in this field. In FY24, Citichem India earned Rs 1,960.58 lakh, EBITDA of Rs 179.29 lakh and PAT of Rs 111.83 lakh.
Where will the company use the money?
The proceeds from the IPO will be used by CityChem India to finance acquisitions, purchase of transport vehicles and supporting equipment and to meet capital expenditure for general corporate purposes.
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