Backed by strong interest from retail and high net-worth individuals, the SME issue’s grey market premium (GMP) was at Rs 30 on day 2 of bidding, suggesting a likely listing price of Rs 132 per share, 29.4% higher than the upper end of the Rs 96–102 price band.
The retail portion was subscribed 18.62 times, while the Non-Institutional Investor (NII) category saw a 27.92 times subscription. The Qualified Institutional Buyer (QIB) segment lagged slightly at 4.18 times.
IPO structure and timeline
The Rs 61.62 crore offering comprises a fresh issue of 60.41 lakh shares. With a minimum application size of 1,200 shares, retail investors are required to invest at least Rs 1,22,400. The IPO, which opened on June 9, will close on June 11.
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The allotment is expected to be finalised on June 12, with the shares slated to list on the NSE SME platform on June 16. GYR Capital Advisors is the book-running lead manager, while MUFG Intime India (Link Intime) is the registrar.
Growth story and export markets
Founded in 1992, Sacheerome manufactures fragrances and flavours used across industries such as personal care, home care, air care, pet care, men’s grooming, and food. The company exports to the UAE and African markets and had 153 employees as of September 2024.
Financial snapshot and expansion
The company reported Rs 108.13 crore in revenue and a net profit of Rs 15.98 crore in FY25, up 50% from the previous year.
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The IPO proceeds will be used to set up a new manufacturing facility in Gautam Buddha Nagar, Uttar Pradesh, and for general corporate purposes. With “strong R&D capabilities, an experienced management team, and efficient sourcing,” Sacheerome aims to expand its footprint in the competitive fragrances and flavours industry.
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