Deepak Chemtex IPO: Issue subscribed more than 89 times on Day2

On the second day by 6.00 PM, Deepak Chemtex IPO was subscribed 89.23 times. The public issue subscribed 126.77 times in the retail category, 10.95 times in QIB, and 106.03 times in the NII category by November 30, 2023 . as per Chittorgarh.com data.

The Grey market Premium or GMP for the Deepak Chemtex IPO increased from ₹28 on 28 November to ₹32 on 29 November, which means shares are trading at their premium of ₹32 in the grey market, according to investorgain.com

Deepak Chemtex IPO is likely to see SME listing on the bourses with tentative listing date expected on as Monday, December,11 2023.

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Deepak Chemtex, established in 1997, has its manufacturing capacities located in Lote Parshuram industrial Area, Lote in Ratnagiri District which is halfway from Mumbai to Goa.

Deepak Chemtex is primarily engaged in the business of manufacturing colorants finding its application in Food, Drug, Cosmetics, Cleaning compounds, Agriculture and other industries.

Deepak Chemtex IPO -10 Things to Know

Deepak Chemtex IPO Date – Deepak Chemtex IPO open for subscription on November 29, 2023 and closes on December 1, 2023.

Deepak Chemtex IPO Price Band– Deepak Chemtex price band is set at ₹76 to ₹80 per share.

Deepak Chemtex Lot size for application– The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹128,000. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹256,000.

Deepak Chemtex IPO details -Deepak Chemtex is a book-built issue of ₹23.04 crores and it is entirely a fresh issue of 28.8 lakh shares.

Deepak Chemtex IPO anchor investor date– Anchor Portion Issue Opens/Closes on Tuesday, November 28, 2023.

Deepak Chemtex IPO objective- Deepak Chemtex intends to utilize the net proceeds from the IPO towards funding of capital expenditure pertaining to the installation of plant & machinery in its existing premises. Some part from the proceeds may also be utilised Investment in its subsidiary DCPL Speciality Chemicals Private Limited for financing its capital expenditure towards the installation of plant and machinery. Funding may also be used to meet working capital requirements and towards General Corporate Purpose.

Deepak Chemtex IPO promoters– Mr. Saurabh Deepak Arora and Ms. Trishla Baid are the company promoters.

Deepak Chemtex IPO Lead Manager and Registrars– Hem Securities Limited is the book running lead manager of the Deepak Chemtex IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Deepak Chemtex IPO is Hem Finlease.

Deepak Chemtex IPO Reservation– Not more than 50.00% of the Net offer in the Deepak Chemtex IPO is reserved for Qualified Institutional Buyers (QIB), not less than 15% for Non Institutional Investors (NII), and not less than 35% of the offer is reserved for Retail Investors.

Deepak Chemtex IPO GMP– Deepak Chemtex IPO GMP today or grey market premium is +32, which means shares are trading at their premium of ₹32 in the grey market, according to investorgain.com

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Deepak Chemtex share price was indicated at ₹112 apiece, which is 40% higher than the IPO price of ₹80.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

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Updated: 30 Nov 2023, 06:11 PM IST