SSPL Securities Private Limited

Saturday 02 Aug, 2025 04:36 AM

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Saravan Stocks

Hot Pursuit

Scrips, which has significant changes during the market hours.

BSE SME Patel Chem Specialities blends a strong start on the bourses

01-Aug-25 11:03 Hrs IST

The scrip was listed at Rs 110, a premium of 30.95% compared with the initial public offer (IPO) price. The stock is currently down 3.64% over its listing price.

The counter hit a high of Rs 114 and a low of Rs 104.50. About 33.01 lakh shares of the company changed hands at the counter.

Patel Chem Specialities' IPO was subscribed 155.63 times. The issue opened for bidding on 25 July 2025 and it closed on 29 July 2025. The price band of the IPO was fixed at Rs 82 to Rs 84 per share.

The IPO comprised fresh issue of 70,00,000 equity shares. The promoter and promoter group shareholding diluted to 68.86% from 95.13% pre-issue.

The company intends to utilize the net proceeds for funding its capital expenditure requirements towards setting up a plant at Indrad, Mehsana, for manufacturing Croscarmellose Sodium (CCS), Sodium Starch Glycolate (SSG) ' Corn Starch Base & Potato Starch Base, Calcium Carboxymethylcellulose (CMC) and for general corporate purposes.

Ahead of the Patel Chem Specialities on 24 July 2025, raised Rs 16.69 crore from anchor investors. The board has allotted 19.87 lakh shares at Rs 84 per share to 8 anchor investors.

Patel Chem Specialities operates in the specialty chemicals sector, with a particular focus on the production of cellulose-based excipients. The company manufactures a diverse range of products that are critical to various industries, including pharmaceuticals, food and beverages, cosmetics, and numerous industrial applications. These chemicals are essential in the formulation of key products such as tablets, food additives, personal care items, and industrial formulations. The products serve vital roles as binders, disintegrants, thickeners, stabilizers, and gelling agents, each performing specialized functions across multiple sectors. As on 31 March 2025, the company had total strength of 136 employees on payroll basis.

The company recorded revenue from operations of Rs 105.09 crore and net profit of Rs 10.57 crore for the period ended 31 March 2025.

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