Deepak Chemtex, a company that specializes in the production of chemicals for various industries including food, pharmaceuticals, beauty, and agriculture, had a strong listing on the stock market. The company entered the market at a price of INR 152 per share, with a premium of 90%. Shortly after, the company’s shares reached the upper circuit of 5%. The share price on the BSE then climbed to a high of INR 159.60. In other words, investors almost doubled their money on the first day.
The IPO price for Deepak Chemtex was set at INR 76-80 per share. In simple terms, the company has been successful in providing investors a return of 99.50% on its debut. The IPO was open for subscription from November 29 to December 1, 2023, and received more than 508 times oversubscription, indicating a positive response from investors. Retail investors subscribed 475.36 times on the last day. To participate in the IPO, investors had to bid a minimum of INR 1,28,000. Prior to the IPO, promoters held a 99.40% stake in the company, which decreased to 73.05% after the IPO. The company raised INR 6.54 crore through anchor investors.
Deepak Chemtex exports its products to several countries, including China, France, Kenya, Mexico, Europe, Japan, Australia, Britain, and the US. The company offers a portfolio of over 100 products used in bakery, desserts, dairy products, cold drinks, spices, pet care, and beauty products, among others. In terms of financial health, the company’s net profit for the financial year 2022 was INR 4.23 crore, which increased to INR 6.31 crore in the financial year 2023. However, during this period, the company’s revenue decreased from INR 54.44 crore to INR 47.84 crore. In the September fortnight, the company achieved a net profit of INR 3.11 crore and a revenue of INR 22.13 crore.
★Deepak Chemtex made a strong listing on the stock market, entering at Rs 152 per share with a 90% premium.
★Shortly after, the company’s shares reached the upper circuit of 5%.
★The share price of Deepak Chemtex on the BSE reached a high of Rs 159.60.
★In other words, investors nearly doubled their money on the first day.
★The IPO price for Deepak Chemtex was Rs 76-80 per share.
★In other words, the company has been successful in giving investors a return of 99.50% on debut.
★The IPO was open for subscription from November 29 to December 1, 2023.
★The IPO received more than 508 times oversubscription, indicating a positive response from investors.
★The retail segment received a subscription of 475.36 times on the last day.
★The company offered 1,600 shares in 1 lot for the IPO.
★As a result, investors had to bid a minimum of Rs 1,28,000.
★Before the IPO, the promoter’s shareholding in Deepak Chemtex was 99.40%, which reduced to 73.05% after the IPO.
★The company raised Rs 6.54 crore through anchor investors.
★Deepak Chemtex operates in various industries, including food, pharmaceuticals, beauty products, and agriculture.
★Its products are used in bakery, desserts, dairy products, cold drinks, spices, pet animals, and beauty care products, among others.
★The company’s product portfolio includes over 100 products, which are exported to various countries, including China, France, Kenya, Mexico, Europe, Japan, Australia, UK, and the US.
★In the financial year 2022, the company reported a net profit of Rs 4.23 crore, which increased to Rs 6.31 crore in 2023.
★However, during the same period, the company’s revenue decreased from Rs 54.44 crore to Rs 47.84 crore.
★In the current financial year, the company has reported a net profit of Rs 3.11 crore and revenue of Rs 22.13 crore in the September fortnight.
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