SME IPO: Yasons Chemex Care Closes Public Offer; Subscription, GMP, Listing, Other Details

SME IPO: Manufacturer of dyes, pigments and FMCG products, Yasons Chemex Care IPO oversubscribed by 59.60 times on the last day of its issue. The SME public offer opened on July 24 and closed on July 26. Retail investors showed strong demand, followed by non-institutional investors. However, qualified institutional buyers showed dull demand. The IPO will list on NSE Emerge which stock exchange NSE's new initiative for small and medium-sized enterprises and startup companies from India.

Data sourced from NSE showed that cumulatively the IPO oversubscribed by 59.60 times on Day 3 (Wednesday). The portion reserved for retail investors oversubscribed by 68.76 times and other categories showed a subscription of 47.71 times.

Yasons GMP stood at Rs 10 per share indicating a 25% premium listing of Rs 50 per share (Rs 40 + Rs 10), as per TopShareBrokers.

The company's IPO size stood at 5,142,000 equity shares at a price of Rs 50 per share. Under the offer, the bid lot size was 3000 equity shares and in multiples thereof. A retail investor was allowed to subscribe a maximum of Rs 2 lakh.

After the IPO, the company will carry the allotment of equity shares on July 31, as per Chittorgarh's data. Further, it will initiate refunds by August 1, and credit the shares to investors' demat accounts by August 2. Later on, the company is proposed to be listed on August 3.

However, it needs to be noted that the allotment status is not available currently. Nevertheless, investors can view their application status on the IPO's registrar which is Kfin Technologies, stock exchanges like BSE and NSE, Demat account and also through bank accounts from which he or she has applied for the issue.

Fedex Securities is the book-running lead manager for the IPO.

The completion of the necessary formalities for listing and commencement of trading at the Stock Exchange where the Equity Shares are proposed to be listed within 6 (Six) working days of closure of the Issue, as per the red herring prospectus. Hence, the listing date will fall on August 3.

Yasons is in the business of manufacturing a) dyes and pigment paste; and b) FMCG products. Under the dye, the company manufactures a wide range of dyes such as reactive dyes, direct dyes, basic dyes, vat dyes and food colorants. Also, it manufactures a wide range of pigment paste from various chemicals. In regards to FMCG products, the company is into products such as hair oil, perfumes & deodorant, handmade soap, sanitizer, etc., under our own brand name "PLXO".