Shiv Texchem shares list at 44% premium over IPO price on BSE SME platform
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The shares of Shiv Texchem debuted on the BSE SME platform at a premium of 44% on Tuesday. The stock listed at Rs 239 as against an issue price of Rs 166. The net proceeds from the public offer will be used for long term working capital requirements and general corporate purposes. The company is primarily engaged in the business of importing and distribution of hydrocarbon-based chemicals of the product family viz. Acetyls, Alcohol, Aromatics, Nitriles, Monomers, Glycols Phenolic, Ketones, and Isocyanates, which are critical raw materials and inputs and have application across a wide spectrum of industries. In the petrochemical industry, there is a wide array of base chemicals that serve as the foundation for various derivative chemicals. These chemicals serve as secondary and tertiary chemicals for application in various industries. Its business focuses on the import and redistribution of these secondary and tertiary chemicals, which are...