Citichem India shares had a subdued debut on January 3, listing at ₹70 on BSE SME, matching the IPO price. The stock’s flat opening reflects a muted response from investors on its first trading day.
Citichem India IPO concluded with remarkable demand on Day 3, achieving 414.35 times subscription. It received bids for 70.77 crore shares against 17.08 lakh shares offered. Retail investors subscribed 543.18 times, while NII subscribed 277.88 times, showcasing strong interest.
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Citichem India Limited specializes in procuring and supplying organic and inorganic chemicals, bulk drugs, and food chemicals to various industries, including pharmaceuticals, textiles, and steel. Backed by 25+ years of promoter expertise, the company aims to expand and diversify its supply chain for sustained growth.
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Citichem India Limited aims to allocate funds for warehousing (₹3.60 crores), transportation vehicles (₹4.69 crores), and general corporate purposes to enhance storage, distribution, and operational efficiency, supporting business growth and customer demand.
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Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.