Citichem India IPO Closed
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Schedule of Citichem India
| Issue open date | 27 Dec 2024 |
| Issue close date | 31 Dec 2024 |
| UPI mandate deadline | 31 Dec 2024 (5 PM) |
| Allotment finalization | 01 Jan 2025 |
| Refund initiation | 02 Jan 2025 |
| Share credit | 02 Jan 2025 |
| Listing date | 03 Jan 2025 |
| Mandate end date | 15 Jan 2025 |
| Lock-in end date for anchor investors (50%) | 31 Jan 2025 |
| Lock-in end date for anchor investors (remaining) | 01 Apr 2025 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Citichem India
Incorporated in 1992, Citichem India Limited specializes in procuring and supplying organic and inorganic chemicals, bulk drugs, and food chemicals primarily to the pharmaceutical industry. Its diverse portfolio caters to industries like aluminium, steel, textiles, dairy, paints, dyes, soaps, and adhesives. With over 25 years of promoter expertise, the company aims to expand its market presence and diversify procurement channels, leveraging its established clientele and growing demand for speciality chemicals.
Financials of Citichem India
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹12.60 crores |
| Fresh Issue | ₹12.60 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Capital expenditure for acquisition of property | 3.60 (28.57%) |
| Purchase of vehicles and accessories | 4.69 (37.23%) |
| General corporate purposes | 2.80 (22.20%) |
Strengths
- 25+ years of experience in specialty chemicals.
- Diverse portfolio serving multiple industries.
- Strong client relationships ensure steady demand.
- Promoters excel in supply chain management.
Risks
- Reliance on leased facilities limits scalability.
- Vulnerable to raw material price fluctuations.
- Regulatory risks in chemicals and pharma.
- Legal issues may affect reputation and confidence.