Technichem Organics shares debuted on the BSE at ₹57.25 per share, reflecting a 4.09% premium over its IPO price, indicating a modest yet positive start for the company’s stock in the market.
Technichem Organics IPO witnessed an overwhelming response on Day 3, with a subscription rate of 425.09 times. This extraordinary demand highlights strong investor confidence in the company’s potential and growth prospects, marking a highly successful conclusion to the subscription period.
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Technichem Organics Limited, established in 1996, manufactures a wide range of chemicals including specialty chemicals, pigment, and dye intermediates. It serves diverse sectors like pharmaceuticals and agriculture, focusing on high-quality production. With a manufacturing capacity of 950,000 kg, it operates globally in 11 countries, emphasizing quality and safety across all operations.
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Technichem Organics Ltd IPO aims to establish Plant-4 with ₹7.03 crore, repay ₹10.23 crore borrowings, and allocate funds for corporate purposes, enhancing R&D, manufacturing, and distribution capabilities.
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.