Indian Emulsifier IPO: The initial public offering of Indian Emulsifier Ltd, which was opened for public subscription on Monday, has received an overwhelming response from investors. Till 11:11 am on the third day of bidding on Wednesday, the Rs 42.39-crore SME IPO received a whopping 52.68 times subscription, garnering bids for 11,27,35,000 shares as against 21,40,000 shares on offer.
The IPO will be closed on May 16.
The retail category has received a 88.28 times subscription, while the non-institutional investor (NII) category got a 39.47 times subscription. The qualified institutional buyers (QIBs) has also got a 19 per cent subscription.
The Indian Emulsifier IPO allotment will likely be finalised on May 17, while the listing will take place on May 22 on the NSE SME.
The price band of the IPO was fixed at Rs 125-Rs 132 per share.
Indian Emulsifier IPO GMP Today
According to market observers, unlisted shares of Indian Emulsifier Ltd are trading Rs 210 higher in the grey market as compared with its issue price. The Rs 210 grey market premium or GMP means the grey market is expecting a whopping 159.09 per cent listing gain from the public issue. The GMP is based on market sentiments and keeps changing.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
About Indian Emulsifier IPO
The Indian Emulsifier IPO is entirely a fresh issue of 32.11 lakh shares.
For investors, the minimum lot size for an application is 1,000 shares. The minimum amount of investment required by retail investors is Rs 1,32,000. The minimum lot size investment for HNI is 2 lots (2,000 shares) amounting to Rs 2,64,000.
Ekadrisht Capital Private Limited is the book running lead manager of the Indian Emulsifier IPO, while Maashitla Securities Private Limited is the registrar for the issue. The market maker for Indian Emulsifier IPO is Ss Corporate Securities.
Indian Emulsifier Limited, established in December 2020, is a manufacturer and supplier of Specialty Chemicals i.e., Esters, Amphoterics, Phosphate Esters, Imidazolines, Wax Emulsions, SMO & PIBSA Emulsifiers. The product line of the company includes Esters, Amphoteric, Phosphate esters, Imidazolines, Wax emulsions, and SMO & PIBSA Emulsifiers.
Its revenue rose 132.9 per cent and profit after tax (PAT) surged 8,935.73 per cent in the financial year 2022-23.
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