Sacheerome IPO GMP Jumps 50%; Issue Booked Over 300 Times — Check Allotment Date And More

The initial public offering (IPO) of Sacheerome Ltd. which opened on Monday, will close for subscription today, June 11. So far, the SME issue has received a remarkable response from investors, with an overall subscription of over 300 times on Day 3.

Investors bid for 13,46,25,600 against the 40,18,800 shares on offer. The demand for the issue was led by Non-Institutional investors who bid for 4,90,23,600 shares against the 8,61,600 on offer, subscribing over 56x times. Retail investors booked the issue 37.75 times, and Qualified Institutional investors booked over 8.48 times.

The company is aiming to raise over Rs 61 crore from the primary market. Sacheerome Ltd. is in the business of manufacturing fragrances and flavours.

Here's all you need to know about the Sacheerome IPO as bidding resumes on Day 3. Check the latest GMP, day 3 subscription status, allotment date, and more.

The latest grey market premium (GMP) for the Sacheerome IPO was Rs 48 at 3:53 p.m. on June 11. The current GMP indicates the unlisted shares of Sacheerome were trading at Rs 150 apiece at the grey market, at a potential premium of 47.06%.

The GMP trends continued to remain strong for the SME IPO as the demand for the issue grew on Tuesday. The grey market premium for the IPO was Rs 30 when the issue opened for subscription. As the IPO subscription gained momentum, the GMP further increased to Rs 40 on Tuesday. The latest grey market premium trends indicate a favourable listing on the NSE SME, but this could change as bidding resumes on Wednesday.

Note: GMP does not represent official data and is based on speculation.

The Sacheerome IPO is a book-building issue worth Rs 61.62 crore, comprising entirely a fresh issuance of 60.41 lakh shares.

The price band for the IPO has been set between Rs 96 and Rs 102 per share.

Retail investors can invest in the IPO by bidding for at least a single lot size of 1,200 shares, requiring an investment of Rs 1,22,400.

Of the 60,40,800 shares on offer, 11,47,200 (18.99%) are allocated to Qualified Institutional Investors, 8,61,600 (14.26%) to Non-Institutional investors, 20,10,000 (33.27%) to Retail investors and 17,19,600 (28.47%) are allocated to Anchor investors.

GYR Capital Advisors Pvt. is the book-running lead manager of the Sacheerome IPO and Giriraj Stock Broking Pvt. is the market maker for the issue.

The IPO has been subscribed 312.93 times as of 5:00 pm on June 11

• Qualified Institutions: 173.15 times

• Non-Institutional Buyers: 808.56 times

• Retail Investors: 180.26 times

*The subscription status will be updated at regular intervals.

Sacheerome Ltd. is expected to finalise the allotment of shares on Thursday, June 12. Following the finalisation of IPO allotment, the company is scheduled to transfer the shares to the Demat account on Friday, June 13. Refunds for non-allottees will also be initiated on the same day. 

Shares of Sacheerome Ltd will be listed on the NSE SME platform, with Monday, June 16 as the expected listing date.

Sacheerome will finalise the share allotment on Friday, June 13. Investors who bid for the issue can check the Sacheerome IPO Allotment Status on NSE and MUFG Intime India, the registrar for the issue.

The company is in the business of designing and manufacturing fragrances and flavours. Its products are used in industries such as beverages, bakery and personal care. 

Use Of Proceeds

The company will use proceeds from the IPO to set up a new manufacturing facility and for general corporate purposes. 

Financials

The company’s profit after tax (PAT) increased 49.8% year-on-year (YoY) to Rs 15.98 crore in FY25 from Rs 10.67 crore in FY24. Revenue from operations rose 26.37% YoY to Rs 107.53 crore in FY25 from Rs 85.09 crore in FY24.

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.