Technichem Organics shares to debut today. Check GMP to know listing potential
Technichem Organics will debut on the BSE SME platform on Tuesday. Ahead of the listing, the company's shares are trading with a GMP of Rs 16 in the grey market.
Considering the upper price band of Rs 71, the stock is expected to see a listing premium of 29% over the issue price.
However, it is important to note that grey market premiums are just an indicator as to how the company's shares are stacked up in the unlisted market and are subject to change rapidly.
The net proceeds from the fresh issue would be utilized for funding capital expenditure requirements for setting up a new plant, debt repayment, and general corporate purposes.
The IPO, which was completely a fresh equity sale of 45 lakh shares, received overwhelming response from investors with an overall subscription of 425 times at close.
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