If you are thinking about putting money into a new company, there’s an opportunity coming up! Deepak Chemtex Limited is going to have its IPO.
It starts on November 29 and you can subscribe to it until December 1. Even though the IPO hasn’t started yet, people in the gray market are excited about the company’s shares. They are trading at a higher price, about 30% more.
When the shares are listed, they might be over Rs 100. The IPO price range is Rs 76 to 80.
Right now, in the gray market, the shares are selling at Rs 22 more than the upper price limit. So, if the shares get listed at the highest price of Rs 80, they could be around Rs 102.
That means investors might make a profit of about 30% on the first day of listing. The total value of the company’s public issue is Rs 23.04 crore.
The shares will be listed on December 11. The allocation of shares will be decided by December 6, 2023.
Retail investors can apply for one lot in the IPO, which is 1600 shares. The shares will be listed on BSE SME Exchange.
Deepak Chemtex started in 1997 and makes colors for food, drugs, and cosmetics.
These colors are used in various products like bakery items, desserts, drinks, dairy products, pet foods, medicines, cosmetics, and personal care items. The company also makes dye without salt.
