New Delhi, July 14 (HS): chemkart India limited, a manufacturer of health supplements, vitamins, and protein products, successfully entered the stock market with its IPO today. Shares were issued at ₹248 and listed on the BSE’s SME platform at ₹250, showing a slight premium.

Following the listing, shares surged to ₹257.90 by 10:30 AM, leading to a 3.99 percent gain for IPO investors. The IPO, which raised ₹80.08 crore, had a subscription period from July 7 to 9 and was oversubscribed 5.91 times overall. The Qualified Institutional Buyers (QIB) portion was subscribed 13.69 times, the Non-Institutional Investors (NII) portion 5.64 times, and the retail investor allocation 1.63 times.

The IPO issued new shares worth ₹64.48 crore and included a sale of 629,200 shares via the offer-for-sale window. Funds will be used for a new manufacturing facility, debt repayment, and corporate purposes. The company reported strong financials, with a net profit of ₹7.66 crore in FY 2022-23, increasing to ₹14.52 crore in FY 2023-24, and ₹24.26 crore forecasted for FY 2024-25, alongside revenue growth of over 24 percent CAGR to ₹205.46 crore.

Hindusthan Samachar / Jun Sarkar