ENA MSME 2025-01-03 15:50:47 <p><span style="font-size:14px"><strong>New Delhi, Jan 3 (KNN)</strong> Citichem India Limited, a prominent industrial chemicals distributor, commenced trading on the BSE SME platform on January 3, 2025, with shares opening at Rs 70, matching their initial public offering price.</span></p> <p><span style="font-size:14px">The listing follows an extraordinary response to the company's Rs 12.60-crore initial public offering, which garnered more than 400 times subscription during its offering period from December 27 to December 31, 2024.</span></p> <p><span style="font-size:14px">The company, established in 1987, achieved a market capitalisation of Rs 45.56 crore upon listing. The initial public offering was structured with a lot size of 2,000 shares at Rs 70 per share.</span></p> <p><span style="font-size:14px">Citichem India's remarkable subscription levels in the primary market underscore growing investor confidence in the SME segment, particularly in established companies with strong distribution networks in the industrial chemicals sector.</span></p> <p><span style="font-size:14px">The company's flat listing, despite high subscription rates, reflects current market dynamics and valuation considerations in the SME space.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 40502 https://knnindia.co.in/news/newsdetails/msme/citichem-india-ipo-oversubscribed-400x-opens-flat-on-bse-sme 2025-01-03 15:50:47 knnindia.co.in