How To Check Citichem India IPO Allotment Status Online And Latest GMP

Citichem India Ltd. is set to finalise the share allotment in its Rs 12.6-crore initial public offering on Jan. 1, 2025, followed by a stellar subscription. The book-built issue, which opened for subscription on Dec. 27, was subscribed 414.35 times at the end of bidding on Monday. The issue witnessed bumper responses across investor categories. Investors placed bids for 70,77,06,000 shares against 17,08,001 shares on offer.

Citichem India's IPO consisted entirely of fresh issuance of 18 lakh shares totalling Rs 12.6 crore at the fixed price of Rs 70.

The issue was subscribed 543.18 times in the retail category with bids for 46,38,72,000 shares, surpassing 8,54,000 shares reserved in the category.

The quota of 8,54,000 shares reserved for the non-institutional investors (NIIs) was booked 277.81 times with bids for more than 23,73,06,000 shares.

Following such an enthusiastic response to the issue, the allotment of shares in the Citichem India IPO is set to be highly competitive. Those who bid for shares in the offer can check the allotment status online via the official websites of BSE and the issue's registrar, Kfin Technologies Ltd.

• Head to the IPO allotment page on the BSE website here

• Click on 'Equity' under the Issue Type dropdown menu

• Select 'Citichem India Limited' under the company name

• Enter your application number or PAN

• Clear the 'Captcha' for verification purposes

• Select the 'Search' option to view your allotment status

• Log on to the official website of Kfin Technologies here

• Select any one of the five server links displayed on the screen

• Select Citichem India Limited from the list of companies

• Enter your Application Number, Demat account number or PAN

• Enter details based on your selection

• Clear Captcha to proceed

• Click Submit to check the allotment status

Following the allotment of shares, Citichem India Ltd. will start crediting shares into the demat account of successful bidders on Jan. 2 along with refunds for the non-allottees.

Shares of Citichem India Ltd. are slated to be listed on the BSE SME platform on Jan. 3.

The grey market premium on Citichem India IPO stood at Rs 20 as per the updates at 9:28 a.m. on Jan. 1, 2025. Shares of the company are likely to debut at Rs 90, marking a premium of 28.57% over the price band, according to InvestorGain.

The company has proposed to use the net proceeds from the IPO to fund capital expenditure on buying a property, vehicles and accessories. The remaining funds will be used for general corporate purposes.

Citichem India Ltd. procures and supplies an array of chemicals and bulk drugs for the pharma industry. The company is further engaged in trades of speciality chemicals and intermediates that have a wide range of applications across key industries. These include metal, textiles, paper, dairy, paints, dyes and intermediates.

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.