Shivam Chemicals IPO Surges 9% on Launch, Opens at ₹48 on BSE SME

Shivam Chemicals debuted on BSE SME with a 9% gain, listing at ₹48, modestly above the ₹44 issue price, marking a positive start to their stock market journey.
Shivam Chemicals IPO Surges 9% on Launch, Opens at ₹48 on BSE SME

Shivam Chemicals’ shares debuted on the BSE SME with a 9% increase, listing at ₹48 each, slightly above the issue price of ₹44. This Tuesday marked their moderate yet positive entry into the stock market.

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Shivam Chemicals’ IPO, running from April 23 to April 25, saw substantial investor interest, achieving a 6.61 overall subscription rate. It attracted bids for 2.87 crore shares versus the 43.56 lakh offered, with retail subscriptions hitting 8.88 times and other categories 4.33 times.

Shivam Chemicals, known for hydraulic lime and animal feed supplements, distributed over 250,000 metric tons via its extensive network in India. Its subsidiary in Dahej, Gujarat, focuses on producing Hydrated Lime with a capacity of 60,000 MT annually, also offering poultry feed supplements. As of late 2023, they employ 25 people.

Shivam Chemicals Limited aims to allocate IPO funds primarily for working capital, investing INR 705 lakh in 2024-25, INR 562 lakh into subsidiary SCMPL for working capital support, and INR 501.28 lakh for general corporate purposes.

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