Shiv Texchem IPO Day 2 subscription: SME IPO subscribed 7.67 times, retail portion booked 10 times

Shiv Texchem IPO Day 2 subscription status: The Shiv Texchem initial public offering (IPO) continued to attract strong investor interest on its second day of subscription. As of 1:55 pm on October 9, the issue was subscribed 7.67 times across all categories, showing promising momentum. 

The retail investors led the demand with 9.94 times subscription, followed by non-institutional investors (NII) at 8.32 times and qualified institutional buyers (QIB) at 3.22 times.

The total number of shares offered was 40,60,800, and bids have been placed for 3,11,60,000 shares, representing a value of ₹517.26 crore, according to Chittorgarh.com

Shiv Texchem IPO Day 2 subscription status

Retail Investors: Subscribed 9.94 times

Non-Institutional Investors (NII): Subscribed 8.32 times

Qualified Institutional Buyers (QIB): Subscribed 3.22 times

Overall Subscription: 7.67 times

Shiv Texchem IPO details

The Shiv Texchem IPO aims to raise ₹101.35 crore through an entirely fresh issue of 61.06 lakh shares. 

Bidding for the IPO opened on October 8 and will close on October 10, 2024. The issue price band is set at ₹158 to ₹166 per share, with a minimum application size of 800 shares, requiring an investment of ₹1,32,800 for retail investors. For high net-worth individuals (HNIs), the minimum lot size is 1,600 shares, amounting to ₹2,65,600.

Shiv Texchem IPO Grey Market Premium

As of October 9, 2024, the grey market premium (GMP) for Shiv Texchem stood at ₹40. Based on the cap price of ₹166, the estimated listing price is expected to be around ₹206, indicating a potential gain of approximately 24.1 per cent per share.

Listing and allotment

The allotment for the Shiv Texchem IPO is expected to be finalised on October 11. The company is set to list on the BSE SME platform on October 15.

Lead Manager and Registrar:

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

Shiv Texchem promoters, anchor investors

The promoters of Shiv Texchem include Vikas Pavankumar, Hemanshu S Chokhani, Pavankumar Sanwaria Realty Private Limited, and Hemanshu Syntex Private Limited. 

The company has already raised ₹28.87 crore from anchor investors, with a lock-in period of 30 days for half of the shares.