Citichem India shares list flat on debut on BSE SME platform

Citichem India IPO shares listed on the BSE SME Platform on January 3.

Citichem India shares listed flat on the BSE SME platform on January 3, following over 400 times subscription to Rs 12.60-crore initial share sale.

The Citichem India stock listed at Rs 70 per share on the BSE against a similar bid price of 70 apiece. The company's market valuation post listing of shares stood at Rs 45.56 crore.

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The SME issue was priced at Rs 70 with a lot size of 2,000 shares. The issue was subscribed over 400 times in the primary market between December 27 - 31.

According to market observers, the shares of Citichem India are commanding a GMP of nearly 22 percent on the listing day. Investorgain quoted a GMP of Rs 15 for the shares of the company in the unofficial market, indicating a listing gain of nearly 21.42 percent.

Established in 1987, CitiChem India Limited is one of the largest distributor of industrial chemicals.

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