Chemkart India IPO listing: Shares of Chemkart India listed on a lacklustre note on the BSE SME platform on Monday, July 14. Chemkart India share price debuted at ₹250 per share as against the issue price of ₹248, a premium of just 0.81%.
However, within minutes of listing, Chemkart India share price extended gains as it rose to the day’s high of ₹257.90, recording a 4% rise over the initial public offering (IPO) price.
The listing was largely in line with the grey market premium (GMP) trends. Chemkart India IPO GMP was ₹3, signalling a 1% listing pop for the company shares.
Chemkart India IPO
Chemkart India IPO had witnessed a decent demand for its IPO during the bidding process, which opened on July 7 and closed on July 9.
At the end of the subscription period, Chemkart India IPO was booked 5.91 times. The individual investor portion was booked 1.63 times, and the non-institutional investor (NII) portion was subscribed 5.64 times. The qualified institutional buyer (QIB) portion was booked the most at 13.69 times.
Chemkart India IPO was a book-building offer of ₹80.08 crore. The issue was a combination of a fresh issue of ₹64.48 crore and an offer for sale of ₹15.60 crore.
The company plans to use the funds raised for financing the expenditure towards setting up a manufacturing facility through investment in a wholly-owned subsidiary, repayment of certain borrowings availed by the company and for general corporate purposes.
Smart Horizon Capital Advisors Private Limited was the book-running lead manager of the Chemkart India IPO, while Bigshare Services Pvt Ltd acted as the registrar for the issue.
Chemkart India is a distributor of high-quality food and health ingredients. The company targets the B2B platform, providing products for manufacturing supplements like sports, health, vitamins, and protein.
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