Technichem Organics IPO GMP jumps to nearly 30% on Day 2 of subscription; issue booked 20x

Technichem IPO GMP jumps to nearly 30% on Day 2 of subscription; key details of the SME issue

Technichem Organics IPO GMP has surged up to 30 percent on day 2 of the subscription. The Rs 25.25-crore issue, with a price band of Rs 52-55 per share, will conclude on January 2.

Technichem Organics IPO got subscribed 20 times on the day 2 of bidding on Wednesday amid strong investors participation.

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According to the data available with the market observers, the shares of Technichem Organics are commanding a grey market premium of nearly 30 percent. Investorgain quoted a GMP of Rs 15 for the shares of the company, indicating a listing gain of 27.27 percent.

Technichem Organics is the chemical manufacturing company. The shares of the company will be listed on 7th January, while the allotment is likely to take place on 3rd January.

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