Sacheerome IPO GMP Up 39%; Issue Booked Over 30 Times - Check Day 2 Subscription Status And More
The SME IPO was booked 33.50 times on Tuesday, led by strong demand from non-institutional investors.
Sacheerome Ltd., which launched its initial public offering (IPO) on Monday, received a fantastic response from investors, as the SME issue was booked over seven times on Day 1.
Investors bid for 2,99,91,600 shares against the 40,18,800 shares on offer. The demand for the issue was led by retail investors who bid for 1,83,40,800 shares against the 20,10,000 on offer, subscribing over 9x times. Non-Institutional buyers booked the issue 7.9 times, and Qualified Institutional investors booked over 4.1 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 2. Check the latest GMP, day 2 subscription status, price band, offer size, allotment date, and more.
Sacheerome IPO: All You Need To Know
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. MUFG Intime India Pvt. is the registrar, and Giriraj Stock Broking Pvt. is the market maker for the issue.
Sacheerome IPO will remain open for subscription till Wednesday, June 11. The company 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.
Sacheerome IPO listing date has been tentatively fixed as Monday, June 16. Shares of the company will be listed on the NSE SME platform.
Sacheerome IPO GMP Today
The latest grey market premium (GMP) for the Sacheerome IPO was Rs 40 at 6:36 p.m. on June 10. The current GMP indicates the unlisted shares of Sacheerome were trading at Rs 142 apiece at the grey market, at a potential premium of 39.22% per share.
The GMP trends continued to remain strong for the SME IPO as the issue received a fantastic response from the investors. The latest grey market premium trends indicate a favorable listing on NSE SME, but can change as bidding resumes on Tuesday.
Note: GMP does not represent official data and is based on speculation.
Sacheerome IPO: Day Two Subscription Status
The Sacheerome IPO was subscribed 33.50 times as of 6:54 pm on Tuesday.
Qualified Institutions: 8.48 times
Non-Institutional Buyers: 56.9 times
Retail Investors: 37.75 times
*The subscription status will be updated at regular intervals
About Sacheerome Ltd.
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.
