Citichem India is primarily engaged in the buying, procuring, and supplying, of organic and inorganic chemicals, bulk drugs, and, food chemicals to pharmaceutical industry. The traded speciality chemicals and intermediates have a wide application in aluminium, steel, textiles, paper, dairy, paints, dyes & intermediates, soap making, pharma, food and adhesive Industry. Citichem India also supplies food preventives and chemicals under its own brand name which is thereafter converted into sales in their own books by the distribution team who ensures safe delivery of bulk supply.

Citichem India, an Fixed Price Issue amounting to ₹12.60 Crores, consisting entirely an Fresh Issue of 18.00 Lakh Shares. The subscription period for the Citichem India IPO opens on December 27, 2024, and closes on December 31, 2024. The allotment is expected to be finalized on or about Wednesday, January 1, 2025, and the shares will be listed on the BSE SME with a tentative listing date set on or about Friday, January 3, 2025.

The Share price of Citichem India IPO is set at ₹70 per equity share. The Market Capitalisation of the Citichem India Limited at IPO price of ₹70 per equity share will be ₹47.60 Crores. The lot size of the IPO is 2,000 shares. Retail investors are required to invest a minimum of ₹1,40,000, while the minimum investment for High-Net-Worth Individuals (HNIs) is 2 lots (4,000 shares), amounting to ₹2,80,000.

Horizon Management Private Limited is the book-running lead manager while Kfin Technologies Limited is the registrar for the Issue. Aftertrade Broking Pvt Ltd. is the Market Maker for Citichem India IPO.

Citichem India Limited IPO GMP Today
The Grey Market Premium of Citichem India Limited IPO is expected to be ₹20 based on the financial performance of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.

Citichem India Limited Day Wise IPO GMP Trend 

Date	IPO Price	Expected Listing Price	GMP	Last Updated
26 December 2024	₹ 70	₹ 90	₹ 20 (28.57%)	05:00 PM; 26 Dec 2024
24 December 2024	₹ 70	₹ 78	₹ 8 (11.43%)	02:00 PM; 24 Dec 2024
23 December 2024	₹ 70	₹ 78	₹ 8 (11.43%)	05:30 PM; 23 Dec 2024

Citichem India Limited IPO Live Subscription Status Today: Real-Time Updates
As of 07:00 PM on 31 December, 2024, the Citichem India IPO live subscription status shows that the IPO subscribed 393.22 times on its Final day of subscription period. Check the Citichem India IPO Live Subscription Status Today at BSE.

Citichem India Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online

Citichem India IPO allotment date is 1st January, 2024, Wednesday. Citichem India IPO Allotment will be out on 1st January 2024 and will be live on Registrar Website from the allotment date. Check Citichem India IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Citichem India Limited IPO from the dropdown list of IPOs.
- Enter your application number, PAN, or DP Client ID.
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.

Check latest IPO information, latest IPO news, Upcoming IPO News, IPO Details, subscription status, IPO GMP and IPO Review of Upcoming IPO, Active IPO, and Listed IPOs at one place. Check latest IPO Review & analysis, Live IPO GMP today, Live IPO Subscription Status Today, Share Price, Financial Information and other details before applying in the IPO.

The Upcoming IPOs in this week and coming weeks are Anya Polytech, Citichem India, Solar91 Cleantech, Rosmerta Digital, Indo Farm, and Avanse Financial.

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About Citichem India Limited

Business Overview

Citichem India Limited is a trading company that specialises in the procurement and supply of organic and inorganic chemicals, bulk drugs, and food chemicals, primarily serving the pharmaceutical industry. The company also provides food preventives and chemicals under its own brand name. Citichem's products cater to various industries including aluminium, steel, textiles, paper, dairy, paints, dyes & intermediates, soap making, pharma, food, and adhesives.

The company was founded on March 18, 1992, as 'Citichem Alkalies (Bombay) Private Limited' and later converted to a public limited company on March 23, 1999. Citichem India Limited operates from its leased Registered Office in Mumbai, Maharashtra.

Key Milestones:

• Incorporated as 'Citichem Alkalies (Bombay) Private Limited' on March 18, 1992.
• Converted to a public limited company on March 23, 1999.
• Name changed to 'Citichem India Ltd' on April 17, 1999.
• Launching an Initial Public Offering (IPO) on December 27, 2024.

Industry Analysis

The Indian chemical industry is a diverse and significant contributor to the nation's economy, encompassing over 80,000 commercial products across sectors such as bulk chemicals, specialty chemicals, agrochemicals, petrochemicals, polymers, and fertilisers.

Key Highlights:

• Globally, India ranks as the fourth-largest producer of agrochemicals, following the United States, Japan, and China.
• India contributes approximately 16% to the global production of dyestuffs and dye intermediates.
• The Indian colorants industry has become a prominent player in the global market.
• As of February 2024, India's chemical industry exports reached US$29 billion.

Growth Trends and Drivers:

• Rising demand for chemicals from various end-user industries.
• Government initiatives and policies supporting the growth of the chemical industry.
• Increasing investments in research and development, driving innovation in the sector.

Competitive Landscape: The Indian chemical industry is highly competitive, characterized by the presence of both domestic and international players.

Business Strengths

• Experienced Management: Citichem India Limited benefits from the extensive experience of its promoters, who have over two decades of expertise in the chemical industry. This experience provides the company with valuable market insights and established relationships with suppliers and clients.
• Customer Satisfaction Focus: The company prioritises cultivating robust customer relationships and ensuring satisfaction, which is crucial for sustained growth in a competitive market.
• Strategic Location: Citichem's base in Mumbai provides advantageous access to well-developed infrastructure, proximity to major markets, and convenient access to ports for import and export activities.

Business Strategies

• Expanding Product Portfolio: Citichem plans to expand its product range by introducing new chemical compositions to meet evolving market demands and cater to a wider customer base.
• Enhancing Operational Efficiency: The company seeks to improve operational processes through technology adoption and strategic initiatives, aiming for greater efficiency and cost optimisation.
• Strengthening Supply Chain: Citichem aims to diversify its procurement sources and expand its supply chain network to ensure consistent product availability and mitigate risks associated with supplier dependence.

Risk Factors and Concerns

• Customer Concentration: Citichem derives a significant portion of its revenue from a limited number of customers. In the stub period (three months ended June 30, 2024), the top customer accounted for 88.98% of total revenue, while the top 5 customers contributed 100%. This concentration poses a risk as the loss of even a single major customer could significantly impact the company's financial performance.
• Intense Competition: The highly competitive nature of the chemical industry, with the presence of numerous domestic and international players, could impact pricing strategies and profitability.
• Dependence on Suppliers: Citichem relies heavily on its suppliers for product availability and pricing, which exposes the company to potential disruptions in supply chains or fluctuations in raw material costs.
• Working Capital Requirements: The trading business model inherently demands substantial working capital investments to manage inventory and credit cycles, which could strain the company's financial resources.
• Family Business Structure: Citichem operates as a family business. While this can offer certain advantages, it may also raise concerns about corporate governance practices, potential conflicts of interest, and succession planning.

As on June 30, 2024, Citichem India have the total 9 Whole-time Employees. The Bankers of the Company is Kotak Mahindra Bank Limited.