Medicamen Organics IPO price band set at ₹32 - 34 per share; check GMP, other key details of SME IPO

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₹10 crore from the IPO and has announced the price band and other details of the IPO.Medicamen Organics IPO price band has been set at ₹32 to ₹34 per share. At the upper-end of the price band the Medicamen Organics IPO size is ₹10.54 crore, consisting of a fresh issue of 31 lakh equity shares.The IPO lot size is 4,000 shares and the minimum investment amount required by retail investors is ₹136,000.Medicamen Organics IPO is an SME IPO which opens for subscription on Friday, June 21, and closes on Tuesday, June 25.

The IPO allotment date is June 26, and the listing date is June 28. Medicamen Organics shares will be listed on NSE SME.The company proposes to utilize the net issue proceeds towards funding of expenses for product registration in the international markets, plant updation and increase in production capacity, funding working capital requirements and general corporate purposes.Bal Kishan Gupta is the promoter of the company.GYR Capital Advisors Pvt Ltd is the book running lead manager of the Medicamen Organics IPO, while Kfin Technologies is the IPO registrar.Medicamen Organics reported a net profit of ₹95.78 lakh upon a revenue of ₹22.96 crore in FY23.

This was a sharp increase from a net profit of ₹9.23 lakh and revenue of ₹21.18 crore in FY22.For the six months ended September 2023, the company’s net profit was ₹1.29 crore and revenue was ₹11.32 crore.Medicamen Organics GMP today, or grey market premium today, is ₹50 per share, as per stock market observers. This indicates that Medicamen Organics shares are trading higher by ₹50 than their issue price in the grey market.The GMP today suggests that Medicamen Organics shares are trading with a hefty premium of 147.06% at ₹84 apiece in the grey market, as against