Thu Jan 02 04:20:00 UTC 2025: ## Technichem Organics IPO Oversubscribed on Day Two

**Mumbai, January 2, 2025** – Technichem Organics Limited’s initial public offering (IPO) has seen phenomenal success, closing its second day of bidding significantly oversubscribed. The IPO, which opened on December 31st and closed today, aimed to raise ₹25.25 crore at a price band of ₹52-₹55 per share. By the end of day two, the issue was oversubscribed 38.49 times overall, with the retail portion booked 63.39 times and the Non-Institutional Investors (NII) portion subscribed 31.67 times. While the Qualified Institutional Buyers (QIB) portion hadn’t received any subscriptions by the close of day two, the overall response is considered extremely positive.

The grey market is also reflecting positive sentiment, with shares trading at a ₹15 premium. Day one saw nearly 8 times subscription, highlighting strong investor interest from the outset. The IPO is slated for listing on the BSE SME Exchange on January 7, 2024. Bigshare Services Private Limited is the registrar, and Shreni Shares is the lead manager.

Despite a reported 8% year-on-year dip in revenue in FY24, Technichem Organics saw a remarkable 175% surge in profit after tax (PAT), a factor likely contributing to investor enthusiasm. The company’s market capitalization is estimated at ₹95.27 crore.

**Disclaimer:** *This news article is based on publicly available information. Investors are advised to conduct their own due diligence and seek professional financial advice before making any investment decisions.*

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