Today, the allotment date for the Shivam Chemicals IPO has been finalized, marking a crucial step in the IPO process. Investors who applied for shares can now check the IPO allotment status on the registrar’s portal, Cameo Corporate Services Ltd. Refund initiation for those who did not receive shares and allotment of shares will commence on April 29. As an SME IPO, the equity shares of Shivam Chemicals are scheduled to list on BSE SME on April 30, 2024.
The IPO subscription period, running from April 23 to April 25, garnered significant interest from investors, with the issue being subscribed 6.61 times by the end of the bidding process. Notably, the public issue received bids for 2.87 crore equity shares against the offer of 43.56 lakh shares. The retail investor portion was subscribed 8.88 times, while the Non-Institutional Investors (NII) category witnessed a subscription of 4.33 times.
Shivam Chemicals’ ₹20.18 crore IPO consists entirely of fresh issues, with a lot size of 3,000 shares and a minimum investment requirement of ₹1.32 lakh for retail investors. The company plans to utilize the net IPO proceeds for funding working capital requirements, investing in a subsidiary company to enhance working capital capabilities, and addressing general corporate purposes.
Aryaman Financial Services serves as the book-running lead manager for the IPO, with Cameo Corporate Services acting as the IPO registrar. The promoters of Shivam Chemicals are Sanjiv Vasant, Soham Vasant, and Shivam Vasant. The company is primarily engaged in distributing animal feed or poultry products and manufacturing hydrated lime.
To check the allotment status of the IPO, follow these steps on the registrar’s website:
1. Visit the direct Cameo Corporate Services link: https://ipo.cameoindia.com/
2. Select “Shivam Chemicals IPO” from the dropdown menu under the company name field.
3. Enter your PAN Number, Beneficiary ID, or Application No./CAF No.
4. Click on the ‘Search’ button.
In the grey market, Shivam Chemicals IPO is currently commanding a premium of ₹2 per share on its allotment day. This suggests an estimated listing price of ₹46 per share, representing a premium of 4.55% over the issue price. It’s essential to note that the grey market premium serves as an indicator of the company’s performance in the unlisted market and may fluctuate rapidly.
