The Sacheerome IPO, which opened for subscription on June 9, 2025, has witnessed significant investor interest on its second day. The IPO will remain open for bidding until June 11, 2025. Here's a comprehensive overview of the subscription status and grey market premium (GMP) as of today, June 10, 2025.
Subscription Status on Day 2
On the first day, June 9, 2025, the Sacheerome IPO was subscribed 7.46 times. The retail category was subscribed 9.12 times, the QIB category 4.18 times, and the NII category 7.96 times. According to an update on day 2, the IPO has received bids for 3,10,39200 shares against 43,21200 on offer, indicating a subscription of over 7 times.
Detailed Subscription Breakdown
- Qualified Institutional Buyers (QIB): Demonstrated considerable interest, subscribing 4.18 times the allocated portion on Day 1.
- Non-Institutional Investors (NII): Showed strong participation, subscribing 7.96 times the portion reserved for them on the first day.
- Retail Investors: Exhibited the most robust interest, with their portion subscribed 9.12 times on Day 1.
Grey Market Premium (GMP)
The Grey Market Premium (GMP) for Sacheerome IPO is ₹30 today. This indicates that the shares are trading at a premium of ₹30 in the grey market.
- Estimated Listing Price: Considering the upper end of the IPO price band (₹102) and the current GMP (₹30), the estimated listing price of Sacheerome shares could be ₹132 apiece.
- Potential Premium: This suggests a potential listing premium of 29.41% over the IPO price.
It's important to note that the GMP is not an official indicator and is based on market speculation. It can fluctuate based on market conditions.
IPO Details
- Issue Size: The Sacheerome IPO is a SME IPO aggregating up to ₹61.62 crores, entirely a fresh issue of 60,40,800 equity shares.
- Price Band: The price band is set at ₹96 to ₹102 per equity share with a face value of ₹10 each.
- Lot Size: The minimum lot size for an application is 1,200 shares, requiring a minimum investment of ₹1,22,400 for retail investors.
- Listing: The shares are proposed to be listed on NSE SME.
- Allotment and Listing Dates: Allotment for the IPO is expected to be finalized on June 12, 2025, with a tentative listing date of June 16, 2025.
** utilization**
The funds raised through the IPO will be used for the following purposes:
- Establishment of a modern infrastructure manufacturing facility at YEIDA, Uttar Pradesh, including a Manufacturing, Research & Innovation Centre, Quality Centre, Application Centre, Consumer Evaluation Centre, Administration, and Perfumery Training Centre.
- General corporate purposes.
Company Overview
Sacheerome Limited, incorporated in 1992, is involved in the business of designing and manufacturing fragrances and flavors used in various sectors, including personal care, home care, beverages, and bakery products. The company also exports to markets in the Middle East and Africa.
Financial Performance
Sacheerome has demonstrated consistent financial growth. The revenue from operations increased from ₹63.88 crore in FY22 to ₹85.09 crore in FY24 and further to ₹107.53 crore in FY25. The profit after tax (PAT) also increased from ₹4.55 crore in FY22 to ₹15.98 crore in FY25.
Key Strengths and Strategies
- Manufacturing Facility: Setting up a modern manufacturing facility in YEIDA, Uttar Pradesh, expected to be operational by Q4 FY2026.
- R&D Focus: Strengthening its innovation platform by aligning R&D closely with Sales & Marketing to develop customer-centric products.
- Global Standards: Adhering to global standards such as IFRA, EU, FSSAI, and FEMA.
