Shiv Texchem IPO Listing On Oct. 15: GMP Indicates Strong Debut At Over 44% Premium

Shares of Shiv Texchem Ltd. are scheduled to make their market debut on Oct. 15. Ahead of the listing, the SME issue has been generating a lot of buzz in the grey market. It is anticipated that successful bidders are likely to make listing gains of more than 44%, as per grey market premium (GMP) trends.

Ahead of the Shiv Texchem IPO listing, its latest Grey Market Premium (GMP) stands at Rs 74, as per the InvestorGain, compared to the upper price band of Rs 166 apiece. Shares of Shiv Texchem are likely to list at Rs 240 apiece on the BSE SME platform, at a premium of 44.57% against the issue price, according to GMP trends.

Note: Investors must note that the GMP of a stock is highly speculative and may not be a true indicator of the listing price of IPO shares.

The Rs 101.35-crore IPO of Shiv Texchem Ltd. was open for subscription from Oct. 8 to Oct. 10. The IPO price band was fixed at Rs 158 to Rs 166 per share.

Shiv Texchem IPO was booked over 156.62 times on the last day of bidding. Investors placed bids for more than 63.6 crore shares against 40.6 lakh shares offered for subscription. The company received an overwhelming response from investors across categories.

• Qualified Institutional Buyers: 86.7 times

• Non-Institutional Investors: 455.93 times

• Retail Investors: 68.27 times

Shiv Texchem IPO share allotment status was finalised on Oct. 11. The minimum lot size for retail investors was fixed at 800 shares, which aggregated to an investment of Rs 1,32,800.

The company plans to use the money raised via the public issue for meeting its long-term working capital requirements and for general corporate purposes.

Shiv Texchem Limited was established in 2005. The company imports and distributes hydrocarbon-based secondary and tertiary chemicals. The company’s products are used as raw materials in industries such as paints and coatings, printing inks, agrochemicals, specialty polymers, pharmaceuticals, and industrial specialty chemicals.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.