The initial public offering (IPO) of Shiv Texchem Ltd., which closed for subscription on Thursday, October 10 received a tremendous response from investors as the SME issue was subscribed 156.55 times. The demand was led heavily by non-institutional buyers who subscribed the issue 455.58 times.
The company is looking to raise Rs 101.35 crore through the maiden issue, which is an entirely fresh issue of 61.06 lakh shares amounting to Rs 101.35 crore.
The SME issue was subscribed 3.79 times on Tuesday (Day 1) and 11.58 times on Wednesday (Day 2).
The IPO price band was set between Rs 158 to Rs 166 per share, with a minimum investment of Rs 132,800 for retail investors (800 shares per lot).
The Shiv Texchem IPO allotment is expected to be finalised by Friday, October 11. On October 14, Shiv Texchem Ltd. shares will be credited to the Demat accounts of successful bidders. Refunds for the non-allottees will also be initiated on the same day.
Shares of Shiv Texchem Ltd will list on BSE SME with a tentative listing date fixed as Tuesday, October 15.
Investors who bid for the IPO can check their share application status on Link Intime India and BSE.
How to check Shiv Texchem IPO allotment status on Link Intime India Private Ltd
Visit the IPO allotment page on Link Intime India here.
Choose 'Shiv Texchem Limited' from the list of companies in the dropdown. (The name will be displayed once the share allocation is finalised)
Select either PAN, Application Number, DP/Client ID or Account Number/IFSC to verify your allotment status.
Enter the required information based on your selection above.
Click the 'Submit' button to check your allotment status.
How to check Shiv Texchem IPO allotment status on BSE website
Go to the IPO allotment page on the BSE website here.
Select the issue type as 'Equity.'
Choose 'Shiv Texchem Limited' from the dropdown menu.
Enter your application number or PAN (Permanent Account Number).
Complete the 'Captcha' for verification.
Click on the 'Search' button to view your allotment status.
Download or print the allotment status for your records.
Shiv Texchem IPO Grey Market Premium
Shiv Texchem IPO's grey market premium, was Rs 46 as of 6:00 p.m. on October 10, indicating a listing premium of 27.71% over the issue price. As per InvestorGain, shares of Shiv Texchem could list at around Rs 212 apiece compared to the upper price band of Rs 166.
Investors should note that GMP is not an official listing price and can be highly speculative.
Shiv Texchem IPO Day 3 Subscription Status
The IPO was subscribed 156.55 times on its final day of subscription.
Qualified Institutions: 86.70 times
Non-Institutional Buyers: 455.58 times
Retail Investors: 68.27 times
About Shiv Texchem Limited
Shiv Texchem Ltd. is an importer and distributor of hydrocarbon-based secondary and tertiary chemicals, a key raw material for many industries.
Established in 2005, the company deals with chemicals like acetyls, alcohols, ketones, isocyanates, aromatics, nitriles, monomers, and glycols phenolic. Shiv Texchem caters to multiple industries, including paints and coatings, printing inks, agrochemicals, speciality polymers, and more.
Shiv Texchem’s clientele includes Apcotex Industries Ltd., Hemani Industries Ltd., and Gujarat Fluorochemicals Ltd.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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