Accent Microcell's IPO opened for subscription on Friday, December 8th and closes on Tuesday, December 12th. The price range for Accent Microcell's IPO is in the range of ₹133 to ₹140. Accent Microcell IPO Lot size 1,000 shares. Investors can bid for at least 1,000 shares and multiples thereof. The nominal value of the shares is ₹10 shares and the issue price is 13.30 times to 14.00 times the nominal value of the shares in the lower price band and in the upper price band.
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Accent Microcell Limited is a manufacturer of high-quality cellulose-based excipients, primarily serving the food, cosmetics, nutraceutical and pharmaceutical industries. The company specializes in the production of high-quality cellulose-based auxiliary materials that meet global quality requirements. The company operates two state-of-the-art manufacturing sites: Dahej SEZ in Bharuch and Pirana Road in Ahmedabad.
The company's listed competitors are Sigachi Industries Limited (with a P/E ratio of 16.70), according to Red Herring Prospectus (RHP).
Also Read: Accent Microcell IPO begins on December 8, price range is ₹133-140 per share
Accent Microcell IPO details
Accent Microcell IPO that's worth it ₹78.40 crore, is an all-new issue of 5,600,000 equity shares; According to RHP, there is no OFS (Offer for Sale) component. While the anchor part has set aside 15.96 lakh shares, the market maker part has set aside 2.8 lakh shares, the QIB part has set aside 10.64 lakh shares, the NIIs have set aside 7.98 lakh shares and the Retail (RII ) part has set aside 18.62 lakh shares.
Accent Microcell intends to use the net proceeds from the offering ₹54.39 crores for construction of a new plant at Navagam Kheda, Gujarat, India, for manufacturing Carboxymethylcellulose (CMC), Sodium Starch Glycolate (SSG) and Croscarmellose Sodium (CCS). The facility is expected to be commercialized in April 2025.
The lead underwriter of Accent Microcell's IPO is Corporate Capitalventures Pvt Ltd and the registrar of the issue is Kfin Technologies Limited. Prabhat Financial Services is the market maker for Accent Microcell.
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Accent Microcell IPO Subscription Status
The subscription status for Accent Microcell IPO is at 362.41 on the 3rd day. The issue received excellent response from retail investors whose portion was subscribed 409.95 times and non-institutional buyers whose portion was subscribed 576.70 times, according to data on chittorgarh.com. The Qualified Institutions Buyers (QIBs) share was booked 118.48 times.
According to chittorgarh.com, the company has received offers for 1,34,96,01,000 shares against 37,24,000 shares offered.
The subscription status for Accent Microcell's IPO was 44.43 times on the first day and on the second day the issue was subscribed 146.39 times.
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Accent Microcell IPO GMP today
Accent Microcell IPO GMP today or gray market premium is +202. This suggests that Accent Microcell's share price was trading at a premium of ₹202 on the gray market, according to investorgain.com.
Taking into account the upper end of the IPO price range and the current gray market premium, the estimated listing price of Accent Microcell stock is ₹342 per piece, which is 144.29% higher than the IPO price of ₹140.
“Gray market premium” indicates investors’ willingness to pay more than the issue price.
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