Shiv Texchem will hold a meeting of the Board of Directors of the Company on 14 November 2024Powered by Capital Market - Live

The scrip was listed at Rs 239, a premium of 43.98% compared to the initial public offer (IPO) price. The stock was currently frozen at its upper limit of 5% over its listing price. The counter hit a high of Rs 250.95 and a low of Rs 227.05. About 28.45 lakh shares of the company changed hands at the counter. Shiv Texchem's IPO was subscribed 145.67 times. The issue opened for bidding on 8 October 2024 and it closed on 10 October 2024. The price band of the IPO was set at Rs 158 to Rs 166 per share. The IPO comprised a fresh issue of 61,05,600 equity shares. The company intends to utilize the net proceeds to meet long term working capital requirements of the company and general corporate purpose. Ahead of the Shiv Texchem IPO on 7 October 2024, raised Rs 28.87 crore from anchor investors. The board allotted 17.39 lakh shares at Rs 166 per share to 10 anchor investors. Shiv Texchem engaged in the business of importing and distribution of hydrocarbon-based chemicals of the product family viz. acetyls, alcohol, aromatics, nitriles, monomers, glycols phenolic, ketones, and isocyanates. These critical raw materials are used across various industries, such as paints, coatings, printing inks, agrochemicals, specialty polymers, pharmaceuticals and industrial chemicals. As of 30 June 2024, the company offers 43 products and it had 59 permanent employees. The company recorded revenue from operations of Rs 566.04 crore and net profit of Rs 10.05 crore for the period as of 30 June 2024. Powered by Capital Market - Live