Deepak Chemtex IPO: Second Day Issue Subscribed 89+ Times: GMP, Issue Details and 10 Things You Should Know

The Deepak Chemtex IPO, which opened for subscription on Wednesday, November 29, 2023, closes on December 1, 2023. It is a book edition of ₹23.04 crores and it is entirely a fresh issue of shares worth 28.8 lakh.

On the second day at 6:00 pm, Deepak Chemtex’s IPO was subscribed 89.23 times. The public issue was subscribed 126.77 times in the retail category, 10.95 times in the QIB category and 106.03 times in the NII category as of November 30, 2023. as per Chittorgarh.com data.

The gray market premium or GMP for Deepak Chemtex’s IPO rose from ₹28 on November 28th to ₹32 on November 29, meaning the shares are trading at their premium of ₹32 on the gray market, according to investorgain.com

The Deepak Chemtex IPO is expected to see an SME listing on the stock exchanges. The provisional trading date is expected to be Monday, December 11, 2023.

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Established in 1997, Deepak Chemtex has its manufacturing capacity at Lote Parshuram Industrial Area, Lote in Ratnagiri district, midway from Mumbai to Goa.

Deepak Chemtex is primarily engaged in the manufacture of dyes used in food, pharmaceutical, cosmetics, detergent, agriculture and other industries.

Deepak Chemtex IPO – 10 Things You Should Know

Deepak Chemtex IPO Date – Deepak Chemtex IPO is open for subscription on November 29, 2023 and closes on December 1, 2023.

Deepak Chemtex IPO price range– The price range for Deepak Chemtex is at ₹76 to ₹80 per share.

Deepak Chemtex batch size for application– The minimum lot size for an application is 1600 shares. The minimum investment amount required by private investors is ₹128,000. The minimum investment size for HNI is 2 lots (3,200 shares) worth ₹256,000.

Deepak Chemtex IPO details -Deepak Chemtex is a book edition by ₹23.04 crores and it is entirely a fresh issue of shares worth 28.8 lakh.

Deepak Chemtex Anchor Investor IPO Date– The anchor section issue opens/closes on Tuesday, November 28, 2023.

Aim of Deepak Chemtex’s IPOe- Deepak Chemtex intends to use the net proceeds from the IPO to fund capital expenditure related to installation of plant and machinery at its existing premises. A portion of the proceeds may also be used for investment in subsidiary DCPL Specialty Chemicals Private Limited to finance its capital expenditure for installation of plant and machinery. Funding can also be used to meet working capital needs and for general corporate purposes.

Promoter of Deepak Chemtex IPO– Mr. Saurabh Deepak Arora and Ms. Trishla Baid are the founders of the company.

Deepak Chemtex IPO Lead Managers and Registrars– Hem Securities Limited is the book-running lead manager of the IPO of Deepak Chemtex while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Deepak Chemtex’s IPO is Hem Finlease.

Deepak Chemtex IPO reservation– Not more than 50.00% of the net offer in Deepak Chemtex IPO is reserved for Qualified Institutional Buyers (QIB), not less than 15% for Non-Institutional Investors (NII) and not less than 35% of the offer is for Qualified Institutional Buyer reserves private investors.

Deepak Chemtex IPO GMP– Deepak Chemtex IPO GMP today or gray market premium is +32 which means stocks are trading at their premium of ₹32 on the gray market, according to investorgain.com

Taking into account the upper end of the IPO price range and the current premium in the gray market, the estimated listing price of Deepak Chemtex share has been provided ₹112 per piece which is 40% higher than the IPO price of ₹80.

“Gray market premium” indicates investors’ willingness to pay more than the issue price.

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