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Citichem India IPO
Price Band
₹
Issue Size
₹12.6 Cr
Lot Size
2,000 shares
Min Investment
₹140,000
GMP
+₹15.0 (21.43%)
Issue Price
₹70.0
Subject to Sauda
₹22800
Paid only if allotted
Citichem India IPO AI Summary
- Citichem India IPO is listed on BSE SME in the Trading - Chemicals sector.
- Subscription window: 27 Dec–31 Dec 2024, listing on 03 Jan 2025.
- Current GMP is +₹15.0 (21.43%) — unofficial and can change daily.
Citichem India Limited is an SME IPO in the trading chemicals sector, focusing on supplying specialty chemicals and bulk drugs. With a competitive edge in quality and innovation, the company aims to utilize the proceeds from the IPO for capital expenditure and general corporate purposes. The financial performance shows a decline in total income in recent periods, which investors should consider in their evaluation.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Citichem India IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 31 Dec 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Citichem India IPO Grey Market Premium (GMP) Today
GMP
+₹15.0
GMP %
+21.43%
Est. Listing
₹85.0
Updated: 25 Jul 2026 14:02
About the Company
Incorporated in 1992, Citichem India Limited is engaged in buying and supplying organic and inorganic chemicals, bulk drugs, and food chemicals to the the pharmaceutical industry. The company focuses on the direct supply of specialty chemicals, bulk drugs, and intermediate products. It trades in specialty chemicals and intermediates that have a wide range of applications across industries such as aluminum, steel, textiles, paper, dairy, paints, dyes and intermediates, soap making, pharmaceuticals, food, and adhesives. The company also supplies food preservatives and chemicals under its brand name, which are then sold through its distribution team, ensuring the safe delivery of bulk supplies. The company supplies products such as Caustic Soda Flakes, Caustic Soda Lye, Citric Acid Monohydrate, Hydrogen Peroxide, and more. Business division: Specialty Chemicals, Intermediates & Active Pharmaceutical Ingredients (API): The company specializes in indenting, sourcing, make-to-order outsourcing, and supplying specialty chemicals, bulk drugs, and APIs to domestic and international clients in the pharmaceutical, paint, and food industries. Food Chemicals: The company handles the repackaging, retail distribution, and marketing of food chemicals. Laboratory Chemicals: The company offers a one-stop solution for all types of laboratory chemicals. As of June 30, 2024, The company has 9 employees. Competitive Strengths: Experienced Promoters and management team Scalable Business Model Focus on quality and innovation Location Advantage Cordial Relationships with Suppliers &Customers Dedicated after-sales network
Company Financials (₹ Cr)
As of 2024-06-30
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 68.52 | 69.33 | 79.73 | 91.43 |
| Total Income | 1.49 | 19.61 | 20.94 | 85.28 |
| Profit After Tax | 0.20 | 1.12 | 0.36 | 0.24 |
| NET Worth | 7.45 | 7.25 | 6.13 | 5.77 |
| Reserves and Surplus | 2.45 | 2.25 | 1.13 | 0.77 |
| Total Borrowing | 1.08 | 1.08 | 1.10 | 1.11 |
Key Ratios
EPS
₹2.24
NAV
₹14.50
ROE
15.42%
ROCE
21.47%
RoNW
15.42%
P/E Ratio
31.3
Market Cap
₹47.60 Cr
PAT Margin
5.70%
Debt/Equity
0.15
Peer Comparison
| Company | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|
| Vinyl Chemicals (india) Ltd. | 18.71% | 30.31 | 11.91 | 11.91 |
| Shankar Lal Rampal Dye-chem Ltd | 6.59% | 91.33 | 1.02 | 1.02 |
| Citichem India Limited This IPO | 15.42% | 31.3 | 2.24 | 2.24 |
Promoters
Arif Esmail Merchant, Hashim Arif Merchant, Fozia Arif Esmail Merchant and Saima Hashim Merhant
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 For Capital expenditure for acquisition of Property; 3.60 2 For purchasing of Transportation Vehicles and accessories; 4.69 3 For General Corporate Purposes; 2.80
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total Income was ₹85.28 Cr in the year ending 31 Mar 2022, which decreased to ₹20.94 Cr by 31 Mar 2023. The income further declined to ₹19.61 Cr in the year ending 31 Mar 2024, and significantly dropped to ₹1.49 Cr by 30 Jun 2024, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax was ₹0.24 Cr in the year ending 31 Mar 2022, increasing to ₹0.36 Cr by 31 Mar 2023. However, it rose to ₹1.12 Cr in the year ending 31 Mar 2024, before falling to ₹0.20 Cr by 30 Jun 2024, though this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
At the issue price of ₹70.0, Citichem India Limited has an implied P/E of approximately 31.3, compared to peers trading at P/E ratios ranging from 30.31 to 91.33.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing gain of an IPO based on unofficial trading before the official listing. A positive GMP suggests that the IPO might list at a higher price than the issue price, while a negative GMP indicates potential listing losses.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their own financial goals and risk tolerance. It is important to consider the company's financial health and market position.
Who May Want to Wait
Investors with a low-risk appetite or those seeking stable returns may want to avoid IPOs like this, which can be subject to market fluctuations and uncertainties.
IPO Timeline, Explained
The IPO opens for subscription on December 27, 2024, and closes on December 31, 2024. Allotment of shares will be done on January 1, 2025, with the listing expected on January 3, 2025.
Listing Gains — The Risk
Listing-day gains can be uncertain and are influenced by market conditions, investor sentiment, and the company's performance. While a positive GMP may suggest potential gains, there is always a risk of the stock listing below the issue price.
This evaluation is generated from Citichem India's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Citichem India IPO GMP today?
Citichem India IPO GMP today is +₹15.0 (21.43%). GMP is an unofficial grey-market indicator and can change daily.
When does Citichem India IPO open and close?
Citichem India IPO opens on 27 December 2024 and closes on 31 December 2024.
When does Citichem India IPO list on the stock exchange?
Citichem India IPO listed on 03 January 2025 at ₹85.0.
What is the lot size for Citichem India IPO?
The lot size for Citichem India IPO is 2000 shares, requiring a minimum investment of ₹140,000.
What is the issue price of Citichem India Limited?
The issue price is ₹70.0.
What is the minimum investment required?
The minimum investment required is ₹140,000, which corresponds to a lot size of 2000 shares.
When is the listing date for Citichem India Limited?
The listing date is January 3, 2025.
What does GMP mean?
GMP stands for Grey Market Premium, indicating the expected listing gain of an IPO based on unofficial trading before the official listing.
What is the subscription period for the IPO?
The subscription period is from December 27, 2024, to December 31, 2024.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
27 Dec 2024
Close
31 Dec 2024
Allotment
01 Jan 2025
Listing
03 Jan 2025
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