SME IPO: Yasons Chemex Care Fully Subscribed; Check Subscriptions, GMP, Allotment, Listing Date, And More

SME IPO: Yasons Chemex Care, a manufacturer of dyes, pigments and FMCG products, has received strong demand since the launch of its initial public offering (IPO) on July 24. The SME IPO which is expected to be listed on NSE Emerge, has fully subscribed on the first day itself. Further, the IPO continued to gain momentum on Tuesday. The IPO will be available for subscriptions till July 26.

As per the data available on NSE, at around 10.30 am, on Tuesday, the IPO received bids of 1,52,94,000 equity shares against the offered size of 51,42,000 equity shares -- recording a subscription of 2.96 times.

Strong appetite for this SME IPO was from non-institutional investors (NIIs) and retail individual investors (RIIs).

As of now, RIIs are the biggest buyers in Yasons IPO with bids aggregating to 1,25,16,000 equity shares, followed by NIIs bidding of 27,78,000 equity shares. However, qualified institutional buyers (QIBs) have still not shown any response to the IPO.

Subscriptions for Tuesday will be opened from 10 am to 5 pm on NSE.

On July 24, the IPO received bids to the tune of 1,01,31,000 equity shares and on this, it subscribed by 1.97 times.

Here are other key details of the IPO:

Issue details: Yasons launched its IPO on July 24 which will be available till July 26. The issue price is fixed at Rs 40 per share. The bid lot size is 3000 equity shares and in multiples thereof. A retail investor can subscribe a maximum of Rs 2 lakh.

GMP: The IPO has a grey market premium of Rs 10 on Tuesday, as per the IPO Watch data.

Allotment dates: After the IPO, the company will carry the allotment of equity shares on July 31, as per Chittorgarh data. Further, it will initiate refunds by August 1, and credit the shares to investors' demat accounts by August 2.

Listing date: Yasons IPO is proposed to be listed on NSE Emerge on August 3, 2023. As per the red herring prospectus, 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. 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".

The company's directors are Pritesh Yashwantlal Shah and Dimple Priteshkumar Shah.

In FY23, the company's revenue from operations stood at Rs 36.77 crore versus Rs 25.05 crore in FY22 and Rs 17.77 crore in FY21. PAT came in at Rs 3.43 crore in FY23 as against Rs 1.95 crore and Rs 1.25 crore in FY22 and FY21.