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Shiv Texchem Launches with 44% Premium— Discover Investor Excitement!

Shiv Texchem debuted on the BSE SME with a 44% premium at ₹239, reflecting strong investor confidence in its potential, indicated by its robust opening price.
Shiv Texchem Launches with 44% Premium— Discover Investor Excitement!

Shiv Texchem’s share price debuted on the BSE SME platform on Tuesday, opening at ₹239, which represents a substantial 44% premium over its initial public offering price. This robust listing underscores strong investor confidence in the company’s market potential.

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The Shiv Texchem IPO saw an overwhelming response, being subscribed 156.55 times. By Day 3, retail investors subscribed 68.27 times, QIBs 86.70 times, and NIIs an impressive 455.58 times, reflecting broad-based investor enthusiasm across all categories by October 10, 2024.

The company imports and distributes essential hydrocarbon-based chemicals such as Acetyls, alcohol, Aromatics, and more, serving as crucial materials for industries like paints, pharmaceuticals, and specialty chemicals. They source these from global suppliers and ensure their timely distribution to domestic manufacturers, facilitating access to quality raw materials for diverse industrial applications.

Shiv Texchem plans to use INR 75 crores for long-term working capital to support business expansion and allocate remaining funds for general corporate purposes, including operational and project development costs.

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