Deepak Chemtex IPO is a book built issue of Rs 23.04 crores. The issue is entirely a fresh issue of 28.8 lakh shares.
Deepak Chemtex IPO is open for subscription on November 29, 2023 and close today December 1, 2023. The allotment for the Deepak Chemtex IPO is expected to be finalized on Wednesday, December 6, 2023. Deepak Chemtex IPO will list on BSE SME with tentative listing date fixed as Monday, December 11, 2023.
Deepak Chemtex IPO price band is set at ₹76 to ₹80 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹128,000. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹256,000.
Incorporated in 1997, Deepak Chemtex Limited is engaged in the business of manufacturing colorants for applications in Food, Drug, Cosmetics, Cleaning compounds, Agriculture, and other industries.
The company manufactures FDC (Food, Drug, and Cosmetic) colors used in confectionary, bakery, desserts, beverages, dairy products, seasonings, pet foods, pharmaceutical products, cosmetics & personal care products. It also manufactures salt-free dyes used in the inkjet industry, pond dyes used in ponds, lakes, swimming pools, etc, and other colorants used in car wash products, portable sanitation cleaners, detergent & soap, fuel, oil & lubricants, smoke, seed treatment, crop protection, fertilizer indicators, floral dyes, etc.
Deepak Chemtex’s manufacturing unit is located in Ratnagiri District in Maharashtra with a production capacity of over 1200 metric tonnes per annum. It is equipped with glass-lined reactors, boilers, and stainless steel equipment and gets audited regularly by its clients from the USA and EU. The facility is ISO 9001:2015 accredited. The manufacturing unit has also received a HALAL certificate which guarantees that the food is prepared per Islamic law and is unadulterated and a KOSHER certificate that a particular food item or product has been prepared per the Dietary Laws of Judaism.
The company has over 100 products in its portfolio and exports its products to countries like China, France, Kenya, Mexico, Europe, Japan, Australia, the United Kingdom, the United States Of America, etc.
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
Deepak Chemtex IPO opens on November 29, 2023, and closes on December 1, 2023.
| IPO Open Date | Wednesday, November 29, 2023 |
| IPO Close Date | Friday, December 1, 2023 |
| Basis of Allotment | Wednesday, December 6, 2023 |
| Initiation of Refunds | Thursday, December 7, 2023 |
| Credit of Shares to Demat | Friday, December 8, 2023 |
| Listing Date | Monday, December 11, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 1, 2023 |
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