Technichem Organics Services IPO subscribed overall 425.09 times on the last day, while A retail quota was subscribed 329.43 times, QIB was subscribed 101.49 times, and NII quota subscribed 1,078.9 times respectively.
Details About Technichem Organics
Technichem Organics got approval from SEBI for an IPO of ₹25.25 crores to raise funds and maintain financial stability. The face value of each share was Rs 10. Moreover, the company has set up a price band between ₹52 to ₹55 per share. In this IPO total of 2000 shares were available in 1 lot size for the minimum Retail category and for the maximum retail category 2000 shares in 1 lot size, while S-HNI (Min) total of 4000 shares in 2 lot size.
To invest in this IPO, each investor category has specific investment amounts:
- Retail Investors: Minimum investment of ₹1,10,000 and maximum investment of ₹1,10,000.
- Small HNI (S-HNI): Minimum investment of ₹2,20,000.
Subscription duration of Technichem Organics
The opening date of Technichem Organics Services IPO subscription was 31 December and the closing date was January 2, 2025. The Technichem Organics Services IPO allotment was finalized on January 3, 2025, and the IPO listing is on January 7, 2025.
Funds Deployment of This Company
The company plans to use the money raised from the new shares for the following purposes:
- Funding of capital expenditure requirements of our Company towards setting up of a new plant named as “Plant –4”;
- Repaying or paying off, either fully or partially, some of the loans our company has taken from banks, financial institutions, and non-banking financial companies.
- General corporate purposes
About Technichem Organics Services IPO
After its establishment in 1996, Technichem Organics Limited and involved in manufacturing chemicals, pyrazoles, pyrazolone, specialty chemicals, and pigments across multiple industries such as pharmaceuticals, agriculture, coatings, dyes, and others. With operations in 11 nations, this company has a wide view of the business environment and is better able to predict market trends. Employees can maintain accuracy and adhere to procedures because of their credibility and dependability. Moreover, Mr. Bharat Jayantilal Pandya and Mr. Anil Jayantilal Pandya are the promoters of this firm and help in Leading, Creating, raising, Handling, and Monitoring business operations. It has a manufacturing capacity of 950,000 kg per year, with three factory plants covering an area of 26,079 square meters. Their facilities follow strict quality control standards and industry best practices.
Technichem Organics Services IPO Financial Background
The company reported revenue of ₹46.39 crores in 2024 against ₹50.36 crores in 2023. The company reported a profit of ₹4.73 crores in 2024 against a Profit of ₹1.73 crores in 2023.
