- Price Band of ₹ 158/ – ₹166/- per equity share bearing face value of ₹10/- each (“Equity Shares”).
- Issue size: ₹ 101.35 Cr (upper price band).
- The IPO will open for subscription on Tuesday, October 08, 2024 and close on Thursday, October 10, 2024
- Lot Size: 800 Equity Shares
- QIB Quota: 28,99,200 Equity Shares (Including Anchor Reservation)
- HNI Quota: 8,70,400 Equity Shares
- Retail Quota: 20,30,400 Equity Shares
- Market Maker Portion: 3,05,600 Equity Shares
Mumbai : Mumbai based Shiv Texchem Limited (the “Company”) is engaged in the business of importing and distribution of hydrocarbon-based chemicals, which is a critical raw material and inputs of applications in a wide spectrum of industries. For its IPO, the Company has fixed the price band of ₹158/- to ₹166/- per Equity Share of face value ₹10/- each for its Initial Public Offering (“IPO” or “Offer”). Retail Investors, HNIs and QIBs can bid for the IPO from Tuesday, October 08, 2024 to Thursday, October 10, 2024.
The net proceeds from the fresh issuance worth Rs 75.00 crore will be utilized towards long-term working capital requirements of the Company and the balance for general corporate purposes.
The availability of hydrocarbons is limited in India. However, India has been one of the largest consumers of chemicals & petrochemical products in the Asia Pacific region. The Company offers a diverse range of hydrocarbon-based chemicals viz. Acetyls, Alcohol, Aromatics, Nitriles, Monomers, Glycols Phenolic, Ketones and Isocyanates. These chemicals are critical raw materials and inputs of applications in a wide spectrum of industries. The Company assists and supports its customers for purchase planning, which includes pricing, product specifications, quantity, delivery schedule and management supply chain, which includes storage, handling and logistics support of the crucial chemical products
Ensuring sufficient, reliable and timely supply of 43 products, which are sourced from 65+ manufacturers and suppliers from multiple countries, the Company distributes and supplies them to over their 700 customers in India. The Company provides flexibility and convenience procurement options to its client. The Company has an established track record of around 19 years, and the Promoter and Managing Director, supported by an experienced team, have been instrumental in its growth.
As per the RHP, there are no listed companies whose business operations are similar to that of the Company or are of a comparable size to that of the Company. The Company intends to strengthen its leadership position in the hydrocarbon-based chemicals market, further penetrate hydrocarbon and petrochemical market in India, diversify into additional business segments and further optimise the Company’s working capital cycle.
In FY 24, the Company has achieved a revenue of Rs.1,53,490.41 lakhs as against Rs. 1,11,759.06 lakhs in the FY23, reporting a growth of 37.34%. During the same period, the Company reported net profit of Rs. 3,011.30 lakhs as compared to Rs. 1,602.72 lakhs in FY 23, achieving a remarkable growth of 88%. The Company reported ROCE and ROE of 26.99% and 19.08% for FY 24.
Vivro Financial Services Private Limited is the sole book running lead manager and Link Intime India Private Limited is the registrar to the issue.