Delhi, 16 June (H.S.): Sacheerome Fragrances and Flavors debuted successfully on the stock market today, with shares issued at ₹102 and opening at ₹153, a 50 percent premium. Although the price dipped to ₹145.35 due to selling pressure, it recovered to ₹156.10 by 10:30 AM, granting IPO investors a profit of approximately 53.04 percent. The IPO, valued at ₹61.62 crore, was open for subscription from June 9 to 11 and was highly successful, being oversubscribed 312.94 times.
The Qualified Institutional Buyers (QIB) portion was subscribed 173.15 times, Non-Institutional Investors (NII) by 808.56 times, and retail investors by 180.28 times. A total of 6,040,800 new shares with a ₹10 face value each were issued. The IPO funds will be used for establishing a new manufacturing unit and for general corporate purposes. The company's financial status is reportedly improving, with a net profit of ₹5.99 crore for the fiscal year 2022-23, projected to rise to ₹10.67 crore in 2023-24 and ₹15.98 crore in 2024-25, alongside a revenue CAGR of over 23 percent, reaching ₹108.13 crore.
Hindusthan Samachar / Jun Sarkar
