Technichem Organics IPO allotment likely today: Check status, GMP, listing date and other details

The share allotment for Technichem Organics IPO will be finalised later today or tomorrow morning. Investors will get shares on a lottery basis and the whole process was supervised by the registrar. On the allotment date, investors get to know about the number of shares allotted to them as against the bids made.

They can check the allotment status through the BSE or by visiting the registrar’s website. Here’s how you can check the status on BSE or even on the registrar’s website.

Firstly, here’s how you can know the status on BSE

Step 1: Visit the BSE Website (https://www.bseindia.com/investors/appli_check.aspx)

Step 2: Please select the issue name, that is the company’s name in the drop down.

Step 3: Enter the application number or PAN number to check the allotment status.To check the status of Technichem Organics IPO allotment through the registrar, which is Bigshare Services in this case, kindly follow the below steps.Step 1: Visit the Bigshare Services website (https://ipo.bigshareonline.com/IPO_Status.html)

Step 2: Select Technichem Organics IPO

Step 3: Enter the PAN details and click search to know the status

Check Technichem Organics GMP

The company’s shares are expected to get listed on the exchanges on January 7. According to market sources, Technichem Organics is trading with a GMP of Rs 15 in the grey market, which translates to a premium of 27% to the issue price.

Technichem Organics IPO subscription

The Rs 25-crore SME IPO of Technichem Organics received a robust response for its IPO with an overall subscription of 425 times.

The net proceeds from the fresh issue would be utilized for funding capital expenditure requirements for setting up a new plant, debt repayment, and general corporate purposes.

Technichem Organics is known for manufacturing various specialty chemicals, including pyrazolones, pyrazoles, and pigment intermediates. Its products cater to industries such as agriculture, pharmaceuticals, coatings, and dyes. The company has a global presence across 11 countries and aims to capitalize on its expertise in air oxidation chemistry to expand further.

The company reported a revenue of Rs 46.39 crore for FY24, marking a decline of 7.86% compared to Rs 50.35 crore in FY23. However, the profit after tax (PAT) surged by an impressive 174.41%, increasing to Rs 4.72 crore in FY24 from Rs 1.72 crore in FY23. For the first quarter of FY24, the company posted a revenue of Rs 14.87 crore and a net profit of Rs 1.40 crore.

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