Indian Emulsifier made a remarkable market debut on the NSE SME, opening at ₹430 per share, which is a 225% premium over the initial offering price. This strong start occurred on Wednesday, significantly boosting investor interest in the company’s shares.
Indian Emulsifiers IPO, open from May 13 to May 17, 2024, was met with substantial demand, achieving a 460 times overall subscription and 484 times in the retail sector. The robust Grey Market Premium suggested a strong debut for its shares.
Indian Emulsifier Limited manufactures specialty chemicals such as esters and phosphate esters for various industries like mining and personal care. Their facility, with a capacity of 4,800 metric tons per year, includes advanced reactors and labs, ensuring quality and flexibility in production, from small batches to large-scale outputs, under diverse temperature and pressure conditions.
Indian Emulsifier Limited’s IPO aims to raise funds for upgrading plant and machinery (₹20.92 crores), covering civil work and installations, and boosting working capital by ₹8.50 crores, plus addressing general corporate purposes to support operational and strategic growth.