Citichem India IPO - AstroIPO

Citichem India IPO


December 23, 2024 Written By Mihir Gohel, Reviewed and Fact Checked by Harpal Parmar

Citichem India Ltd. is launching an IPO from December 27 to 31, 2024, with a price band of ₹70 per share to raise ₹12.60 crores in the Chemicals sector.

The IPO Structure a fresh issue of 18,00,000 shares (₹12.60 crores). Investors can apply for a minimum lot of 2000 shares, requiring ₹1,40,000 at the upper price band. Each share has a face value of ₹10.

The Citichem India IPO will list on BSE, offering 18,00,000 shares to the public.

Citichem India IPO Details

The key details of Citichem India’s IPO are outlined below, covering all crucial aspects from price range to investment requirements and regulatory documents.

IPO Size ₹12.60 Cr
Price Range ₹70
Retail Quota 50%
QIB Quota --
NII Quota 50%
Employee Discount --
Listing at BSE
Minimum Quantity 2000
Investment (cut-off price) ₹1,40,000
Pre IPO Promotor Holding 83.25%
Post IPO Promotor Holding 61.21%
DHRP Draft Click Here
RHP Draft Click Here
Anchor Investors List Click Here

Citichem India IPO Timelines

The IPO process for Citichem India includes key dates for participants to know. The timeline allows for strategic planning and participation, helping investors stay informed and engaged throughout the entire process.

27/12/2024
Start Date
31/12/2024
End Date
01/01/2025
Allotment Date View Status
02/01/2025
Refund Initiation
02/01/2025
Credit of Shares to Demat Ac
03/01/2025
Listing Date

Citichem India IPO Lot Size

The Citichem India IPO has a fixed lot size of 2,000 shares, at an upper price band of ₹70 per share, requiring ₹140,000 per lot for retail investors. For HNI investors, the minimum application is 4,000 shares (2 lots) amounting to ₹280,000.

Application Lot Size Shares Amount
Retail Minimum 1 2000 ₹1,40,000
Retail Maximum 1 2000 ₹1,40,000
HNI Minimum 2 4000 ₹2,80,000

Citichem India IPO Subscription Status

The subscription status for Citichem India IPO shows market demand across different investor categories, providing valuable insights into the offering’s performance. You can track real-time subscription data below.

QIB NII Retail EMP Total
-- 277.88x 543.18x -- 414.35x

IPO Performance on Listing Day

On the listing day (January 3, 2025), Citichem India made a flat debut on the stock exchange. The stock opened at ₹70, at par with its issue price. During the trading session, the stock faced some selling pressure, dropping to a low of ₹66.50 while unable to trade above its opening price. The shares closed their first trading day at ₹68.28, recording a slight decline of 2.5% from the issue price, suggesting a cautious market response to this chemical sector entrant.

Opening Price Closing Price Day High Day Low
₹70 ₹68.28 ₹70 ₹66.50

Citichem India IPO Company Financials

Citichem India reports robust performance in FY2024 with Total Income of ₹19.61 crores, managing expenses at ₹17.96 crores, and achieving a strong PAT (Profit After Tax) of ₹1.12 crores, demonstrating significant growth potential ahead of its public offering.

Year Total Income Total Expense PAT
FY 2022 ₹85.28 ₹84.96 ₹0.24
FY 2023 ₹20.94 ₹20.43 ₹0.36
FY 2024 ₹19.61 ₹17.96 ₹1.12
FY 2025 (3 M) ₹1.49 ₹1.21 ₹0.20

About Company

Citichem India Limited, incorporated in 1992, is primarily involved in the procurement, supply, and trade of organic and inorganic chemicals, bulk drugs, and food chemicals to the pharmaceutical industry. The company also deals in specialty chemicals and intermediates that serve a diverse range of industries, including aluminum, steel, textiles, paper, dairy, paints, dyes, soap making, pharmaceuticals, food, and adhesives. Citichem India Limited also supplies food preservatives and chemicals under its brand name, ensuring their safe delivery through a dedicated distribution team.

The company’s operations are divided into three key business divisions: Specialty Chemicals, Intermediates & Active Pharmaceutical Ingredients (API), Food Chemicals, and Laboratory Chemicals. It specializes in sourcing and supplying specialty chemicals, bulk drugs, and APIs, both domestically and internationally, particularly for the pharmaceutical, food, and paint industries. Citichem India Limited is also involved in the repackaging, retail distribution, and marketing of food chemicals. With a small team of nine employees as of June 30, 2024, the company continues to grow its presence in these critical sectors. The dates for its upcoming IPO are yet to be announced.

Incorporation Date Sector Managing Director
1992 Chemicals Arif Merchant

Know Before Investing

When evaluating Citichem India's IPO potential, understanding both its market advantages and inherent risks becomes crucial for your investment. Below are the key insights you should consider.

Citichem India IPO Strengths

  • Citichem India’s promoters bring over 25 years of experience in sourcing and supplying chemicals, enabling them to identify growth opportunities.
  • The company ensures the delivery of quality-certified products from trusted suppliers.
  • The company benefits from a strategic location that enhances its supply chain and distribution capabilities.
  • The company has a dedicated after-sales network, ensuring continued support and customer satisfaction.

Citichem India IPO Risks

  • Citichem Limited’s revenue relies heavily on a few customers, and losing them could negatively impact its financial performance.
  • The company trades hazardous chemicals, posing risks that could lead to accidents, property damage, and disruptions, affecting its operations and financial condition.

Swot Analysis for Citichem India IPO

Understanding Citichem India's SWOT analysis is your first step towards making a confident investment decision. Let's evaluate its core strengths and potential challenges ahead.

Strengths

Established Distributor, Experienced Management, Strong Customer Relationships, Strategic Location

Weaknesses

Market Dependence, Limited Brand Recognition, Operational Risks

Opportunities

Growing Chemical Demand, Market Expansion Potential, Technological Advancements

Threats

Intense Competition, Economic Volatility, Regulatory Compliance Risks

Company Details

Citichem India Limited

7, Floor-1, Plot-96,
Dharam Jyoti, Kazi Sayed Street, Khand Bazar,
Masjid Station, Mandvi, Mumbai 400003

Phone: +91- 9223278100

Email: cs@citichemindia.com

Website: https://www.citichemindia.com/

IPO Registar Details

Kfin Technologies Limited

Phone: 04067162222, 04079611000

Email: citichemindia.ipo@kfintech.com

Website: https://kosmic.kfintech.com/ipostatus/

FAQs

The key objectives of Citichem India IPO are:

  • For acquiring property.
  • For purchasing transportation vehicles and accessories.
  • For general corporate purposes.
  • For covering issue expenses.

Horizon Management Private Limited is the book-running lead managers for the Citichem India IPO.

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