Gwalior Chemical Industries IPO
Gwalior Chemical Industries IPO — date, price band, lot size & details 2006
Gwalior Chemical Industries listed on 4 Oct 2006 at ₹83.5, 3.1% above the ₹81 issue price.
Gwalior Chemical Industries makes niche chemicals for agrochemical, pharma, dye and flavour and fragrance makers, at Nagda in Madhya Pradesh and Ankleshwar in Gujarat. Its total income was Rs 173.71 crore in FY2006.
Stock price
Gwalior Chemical Industries is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 11 Sep 2006
- Close 14 Sep 2006
- Allotment 26 Sep 2006
- Refund/credit TBA
- Listing 04 Oct 2006
Issue summary
The terms of the offer, as filed.
| IPO Dates | 11 to 14 Sep, 2006 |
|---|---|
| Price Band | ₹71 – ₹85 |
| Face Value | ₹10 |
| Lot Size | 75 Shares |
| Issue Size | ₹80 Cr |
| Sale Type | Fresh capital only |
| Listing On | BSE, NSE |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 6,075 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 75 shares at the ₹81 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 75 | ₹6,075 |
| Retail (max) | 32 | 2,400 | ₹1,94,400 |
| S-HNI (min) | 33 | 2,475 | ₹2,00,475 |
| S-HNI (max) | 164 | 12,300 | ₹9,96,300 |
| B-HNI (min) | 165 | 12,375 | ₹10,02,375 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01It had 7 plants across 2 chemical sites at Nagda and Ankleshwar.
- 02Total income rose from Rs 104.36 crore in FY2004 to Rs 173.71 crore in FY2006.
- 03Profit after tax rose from Rs 4.49 crore in FY2004 to Rs 15.59 crore in FY2006.
- 04Exports rose from Rs 490 lac in fiscal 2003 to Rs 2,118 lac in fiscal 2005.
Risks · 5
- 01It relied on 1 viscose fibre maker as a large buyer of its black dye pigment, and on costlier backup power from the Grasim plant near Nagda.
- 02Chemical plants face pollution rules and safety risks; total assets were Rs 174.26 crore.
- 03Domestic customers made up 72% of total sales in fiscal 2006, down from 89% in fiscal 2004, so it was more exposed to export markets.
- 04Rs 26.00 crore of the issue was to support its financing activities.
- 05Promoter and promoter group holding fell from 100% before the issue to 59.98% after it.
Three years of numbers
All figures in ₹ crore, as reported in the Gwalior Chemical Industries offer document.
| Metric | 31 Mar 2006 | 31 Mar 2005 | 31 Mar 2004 |
|---|---|---|---|
| Assets | 174.26 | 142.99 | 106.65 |
| Total Income | 173.71 | 135.65 | 104.36 |
| Profit After Tax | 15.59 | 13.13 | 4.49 |
| NET Worth | 61.36 | 46.28 | 34.22 |
| Reserves and Surplus | 47.28 | 32.15 | 31.27 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Gwalior Chemical Industries RHP.
Where the money goes
₹90.10 Cr of the issue is earmarked to named objects.
About the company
It makes niche chemicals, some of which are key molecules for agrochemicals and bulk drugs. It described itself as one of the producers of chlorotoluenes and thionyl chloride in the world, and as a large supplier of black viscose dye pigment to a leading viscose staple fibre maker.
It had 7 plants across two chemical sites, at Nagda in Madhya Pradesh and Ankleshwar in Gujarat. Exports rose from Rs 490 lac in fiscal 2003 to Rs 2,118 lac in fiscal 2005.
The IPO was Rs 80 crore and was entirely a fresh issue at Rs 81, within the Rs 71 to Rs 85 band. The money was for expanding its Nagda facilities, new plants for new products and its financing needs.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Gwalior Chemical Industries IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
JM Morgan Stanley Pvt. Ltd
22 issues handledBest listing: Infrastructure Development Finance Co (+76.5%). Weakest: House of Pearl Fashions (-9.1%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Gwalior Chemical Industries?
The current Grey Market Premium is ₹0.
What is the Gwalior Chemical Industries IPO price band?
₹71 to ₹85, on a face value of ₹10.
When is the allotment?
The basis of allotment is 26 September 2006, with listing on 4 October 2006.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
