Indian Emulsifier IPO Listing
Indian Emulsifier IPO Listing: Indian Emulsifier's ₹42.39 crore IPO was open for subscription from May 13-16. Today its shares have been listed.
Indian Emulsifier IPO Listing: Shares of specialty chemicals industry giant Indian Emulsifier had a successful entry on the SME platform of NSE today.
Its IPO received overall bids of more than 460 times. Under the IPO, shares have been issued at a price of Rs 132.
Today it has entered NSE SME at Rs 430.00, which means IPO investors got a listing gain of 225.76 percent (Indian Emulsifier Listing Gain).
After listing the shares went up further. It jumped to the upper circuit of Rs 451.50 (Indian Emulsifier Share Price) and closed at the same i.e. IPO investors are now making 242 percent profit.
Indian Emulsifier IPO got strong response
Indian Emulsifier's ₹42.39 crore IPO was open for subscription from May 13-16. This IPO received a tremendous response from investors and overall it was subscribed 460.07 times.
In this, the portion reserved for Qualified Institutional Buyers (QIB) was filled 175.95 times, the share for Non-Institutional Investors (NII) was 779.63 times and the share for retail investors was 484.66 times.
Under this IPO, 32.11 lakh new shares with face value of Rs 10 have been issued. The money raised through these shares will be used for the purchase of plant and machinery, civil works and installations as well as for meeting the working capital requirements and for general corporate purposes.
About Indian Emulsifier
Indian Emulsifier, formed in December 2020, manufactures specialty chemicals like esters, amphoterics, phosphate esters, amodazolines, wax emulsions, SMO and PIBSA emulsifiers.
Its products are supplied to industries like mining, textile, cleaning, PVC/rubber, personal care, food.
The company has a manufacturing plant in Ratnagiri, Maharashtra and two warehouses in Raigarh and Ratnagiri.
Talking about the financial health of the company, in the financial year 2023, its net profit jumped by 8936 percent on an annual basis to Rs 3.89 crore and revenue jumped by 133 percent to Rs 41.18 crore.
Talking about the last financial year 2023-24, in the first 9 months April-December 2023, it earned a net profit of Rs 6.75 crore and a revenue of Rs 48.70 crore.