Sacheerome IPO Closes Today with 52x Subscription Surge, GMP at 40%

The Sacheerome IPO is set to close today, June 11, after witnessing an overwhelming response from investors. The subscription rate skyrocketed to 52.13 times, with non-institutional investors leading the charge at 110.95x, followed by retail investors at 51.79x and qualified institutional buyers at 9.53x.

 

The grey market premium (GMP) for Sacheerome IPO stood at ₹41, translating to a 40.2% premium over the issue price of ₹102, with unlisted shares trading at ₹143. The company aims to raise ₹61.62 crore through a fresh issue of 6.04 million equity shares, with no offer for sale (OFS) component.

 

The price band for the IPO was set between ₹96 and ₹102 per share, with retail investors required to invest a minimum of ₹1,15,200 for a lot of 1,200 shares. The share allotment is expected to be finalized on June 12, followed by refunds and Demat credit on June 13, and listing on the NSE SME platform on June 16.

 

Sacheerome, founded in 1992, specializes in fragrances and flavors used across personal care, food, and wellness industries. The IPO proceeds will be utilized for setting up a new manufacturing facility in Gautam Buddha Nagar, Uttar Pradesh and general corporate purposes.

 

Sources: Business Standard, MSN News, NDTV Profit