Shiv Texchem IPO: Hydrocarbon Chemical Importer's ₹101 Crore Public Offer Opens On October 8; Know Key Details

The Shiv Texchem IPO will begin accepting subscriptions on Tuesday, October 8; Thursday, October 10 is the last day of the importer and distributor of hydrocarbon-based chemicals' initial public offering, which has set a price range of Rs 158 to Rs 166 per share.

IPO Structure and size

A total of 61.05 lakh shares are being issued in a fresh issue for the Rs 101.35 crore initial share sale. An offer-for-sale (OFS) component is not present.

Subscription and listing timetable

The subscription period for Shiv Texchem's initial public offering (IPO) ran from October 8 to October 10.

It is expected that the allotment for the Shiv Texchem IPO will be finished on Friday, October 11, 2024. Tuesday, October 15, 2024 is the suggested listing date for the Shiv Texchem initial public offering on the BSE SME platform.

IPO allocation

In light of Shiv Texchem's IPO reserved allocation, QIB is allocated 28,99,200 equity shares (including the Anchor Reservation), 8,70,400 equity shares are allocated to HNIs, and 20,30,400 equity shares are allocated to retailers. A SME IPO such as Shiv Texchem requires market makers to have a minimum of 3,05,600 equity shares set up.

15 per cent of the net issue is reserved for non-institutional investors (NIIs), 35 per cent for retail individual investors, and 50 per cent for qualified institutional buyers (QIBs).

Founded in 2005, Shiv Texchem is a major distributor and importer of chemicals based on hydrocarbons. Acetyls, aromatics, nitriles, alcohols, glycols, phenolics, monomers, isocyanates, and ketones are among its areas of expertise.

These substances are crucial raw materials for a variety of industries, including specialty polymers, paints, coatings, agrochemicals, printing inks, and pharmaceuticals.