Chemkart India IPO Subscribed 1.46× Overall on Day 2; QIBs Lead with 3.41× Bidding
By Shishta Dutta | Published at: Jul 8, 2025 07:10 PM IST
Mumbai, July 8, 2025 — Chemkart India Limited’s IPO continued to attract healthy demand on Day 2, driven primarily by strong institutional participation.
As of 5 PM, the ₹57.55 crore issue was subscribed 1.46 times overall, with Qualified Institutional Buyers (QIBs) bidding 3.41 times their share.
The IPO opened for subscription on July 7, 2025 and closes on July 9, 2025. The allotment is expected to be finalised on July 10, 2025. A tentative listing on BSE SME is scheduled for July 15, 2025.
Category-wise Bidding Summary (as on July 8, 2025)
| Category | Shares Reserved | Applications Received | Shares Bid For | Subscription (×) |
|---|---|---|---|---|
| QIBs | 6,09,600 | 3 | 20,80,200 | 3.41 |
| — FIIs | – | 2 | 14,70,600 | – |
| — Others (QIBs) | – | 1 | 6,09,600 | – |
| Non-Institutional Investors (NIIs) | 6,29,400 | 72 | 10,29,600 | 1.57 |
| — > ₹10 lakh | 3,08,800 | 51 | 9,87,600 | 3.20 |
| — ≤ ₹10 lakh | 1,54,400 | 21 | 42,000 | 0.27 |
| Retail Individual Investors (RIIs) | 10,78,800 | 232 | 2,78,400 | 0.26 |
| Total | 23,17,800 | 307 | 33,88,200 | 1.46 |
Key Observations:
- QIB participation was stellar, especially from FIIs, who alone bid for 14.70 lakh shares.
- The High Net-Worth Individual (HNI) segment (>₹10 lakh) was oversubscribed by 3.20 times, indicating strong demand from wealthy individuals and corporates.
- Retail participation remained muted, with only 26% of subscriptions, despite 232 applications being received.
- No bids received under Employee, Shareholder, or Policyholder categories (none were reserved).
IPO Timeline
- Issue Closes: July 9, 2025
- Final UPI Mandates Update: Till 7:00 PM on July 9
- Basis of Allotment: Expected by July 12
- Listing Date (Tentative): On or after July 15, 2025
About the IPO
Chemkart is raising funds primarily to:
- Invest ₹34.68 crore in its SEZ manufacturing unit under Easy Raw Materials Pvt Ltd
- Repay ₹20 crore worth of borrowings
- Fund general corporate purposes
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