Deepak Chemtex IPO: Issue booked 236 times

The SME IPO of Deepak Chemtex opened for subscription on November 29, with a price band of Rs 76–Rs 80 per share. The IPO will conclude for subscription on December 1. Deepak Chemtex IPO is a book-built issue of Rs 23.04 crore and is entirely a fresh issue of 28.8 lakh shares.

The minimum lot size for an application is 1,600 shares.

The basis of the allotment of shares under the IPO of Deepak Chemtex is set to be finalised on December 6. The stock is likely to be listed on December 11 and will be traded on BSE SME.

Hem Securities is the bookrunner and lead manager of the Deepak Chemtex IPO. Bigshare Services is the registrar for the issue.

Deepak Chemtex IPO was subscribed 236 times. The public issue subscribed 326 times in the retail category, 51.7 times in QIB, and 261 times in the NII category as of 02:18 PM.

The company intends to utilise the net proceeds from the issue towards investment in the installation of plant and machinery on the existing premises, investment in its subsidiary, DCPL Speciality Chemicals Private and meet working capital requirements and general corporate purposes.

Incorporated in 1997, Deepak Chemtex is engaged in the business of manufacturing colorants for applications in food, drugs, cosmetics, cleaning compounds, agriculture, and other industries.

_{Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.}