Shivam Chemicals IPO share price makes decent debut; lists with 9% premium at ₹48 apiece on BSE SME

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₹48 apiece on the BSE SME, a premium of 9.09% to the issue price of ₹44 per share. Shivam Chemicals IPO listing was above market estimates as ahead of the listing, Shivam Chemicals IPO GMP today, or grey market premium today was ₹2 per share. This indicated Shivam Chemicals shares would list around ₹46 per share.

Shivam Chemicals is engaged in distributing animal feed or poultry products and is also in the business of manufacturing hydrated lime. Also Read: JNK India share price makes a stellar debut, stock opens with 50% premium at ₹621 on NSE The initial public offering (IPO) of Shivam Chemicals was launched on April 23 and the bidding concluded on April 25. Shivam Chemicals IPO was an SME IPO and a fixed price issue.

The company raised ₹20.18 crore from the IPO which was entirely a fresh issue of 45.87 lakh shares. Shivam Chemicals IPO price band was set at ₹44 per share. The company proposes to utilize the net IPO proceeds towards funding working capital requirements, investment in a subsidiary company for financing the augmentation of its working capital capabilities and general corporate purposes.

Also Read: Varyaa Creations share price makes a bumper debut, stock opens with 90% premium at ₹285 apiece on BSE SME Shivam Chemicals IPO allotment was finalized on April 26, and the share listing date is today, April 30. Shivam Chemicals IPO received decent demand from investors as the public issue was subscribed 6.61 times in total. The IPO received bids for 2.87 crore equity shares as against 43.56 lakh shares on the offer.

The IPO was subscribed 8.88 times in the retail category and 4.33 times in Other category by April 25. Sanjiv Vasant, Soham Vasant and Shivam Vasant are the promoters of the company. Aryaman