Shiv Texchem IPO booked 156.55x on Day 3 led by NIIs; check GMP, subscription status, other key details

Shiv Texchem IPO: The IPO subscription period for Shiv Texchem Limited began on October 8 and will end on October 10. The price band for the Shiv Texchem IPO is set at ₹158-166 per share, with a face value of ₹10. There are several shares available for bidding, and a minimum of 800 shares is open for bidding.

Shiv Texchem's main focus is on importing and distributing hydrocarbon-based chemicals within the product categories of Acetyls, Alcohol, Aromatics, Nitriles, Monomers, Glycols Phenolic, Ketones, and Isocyanates. These chemicals are crucial raw materials with applications across various industries including paints and coatings, printing inks, agro-chemical products, specialty polymers, pharmaceuticals, and specialty industrial chemicals.

The promoters of the company are Vikas Pavankumar, Hemanshu S. Chokhani, Pavankumar Sanwaria Realty Private Ltd, and Hemanshu Syntex Private Ltd.

Based on the red herring prospectus (RHP), their company does not have any listed companies with similar business operations or comparable size. Therefore, it is not feasible to offer an industry comparison for their company.

Between March 31, 2023, and March 31, 2024, Shiv Texchem Ltd experienced a 37% increase in revenue and an 88% rise in profit after tax (PAT).

Shiv Texchem IPO subscription status

Shiv Texchem IPO subscription status is 156.55 times, on day 3.

The retail portion was subscribed 68.27 times, and NII portion was booked 455.58 times. Qualified Institutions Buyers is booked 86.70 times.

The company has received bids for 63,57,30,400 shares against 40,60,800 shares on offer, according to data on chittorgarh.com

Shiv Texchem IPO subscription status was 3.79 times on the first bidding day, and the issue was booked 11.58 times on the second bidding day.

Shiv Texchem IPO details

Shiv Texchem IPO, valued ₹101.35 crore, includes a fresh issuance of 6,105,600 equity shares with a face value of ₹10. There is no "offer for sale" component.

The company plans to use the total funds generated from the Issue for the following purposes: Meeting long-term working capital needs; and General Corporate Uses.

The registrar for the Shiv Texchem IPO is Link Intime India Private Ltd, and the book running lead manager is Vivro Financial Services Private Limited. Rikhav Securities is the market maker for the Shiv Texchem IPO.

Shiv Texchem IPO GMP today

Shiv Texchem IPO GMP is +35. This indicates Shiv Texchem share price were trading at a premium of ₹35 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 Shiv Texchem share price was indicated at ₹201 apiece, which is 21.08% higher than the IPO price of ₹166.

According to the grey market activities in the last 8 sessions, today's IPO GMP is on the rise and is anticipated to have a robust listing. As per experts at investorgain.com, the GMP ranges from ₹0 to ₹40, with the lowest and highest values, respectively.

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

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