 "Stock market")
Shares of Amic Forging and Deepak Chemtex were locked at the 5 per cent upper circuit on the BSE in Wednesday intra-day trades as of 11:36 AM. Both stocks have doubled from their respective issue price post market debut today.
Amic Forgings was trading at Rs 251.35 against its issue price of Rs 126 per share, while Deepak Chemtex was quoting at Rs 159.60, against its issue price of Rs 80 per share.
Both these issues had received robust response from investors. Amic Forging IPO was subscribed 289.05 times. The public issue was subscribed 273 times in the retail category, 91.43 times in the qualified institutional buyers (QIB) category, and 589.27 times in the non-institutional investor (NII) category.
Meanwhile, Deepak Chemtex IPO was subscribed 403 times. The public issue was subscribed 475.36 times in the retail category, 96.80 times in the QIB category, and 642.25 times in the NII category, data shows.
Amic Forging and Deepak Chemtex were listed and admitted to dealings on the exchange in the list of 'MT' group of securities. These scrips will be in trade-for-trade (T group) segment for 10 trading days. These shares shall be transferred from MT Group to Rolling segment with effect from December 20, 2023. Accordingly, the dealings in the equity shares of the company will be shifted under M Group.
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BSE said that trades effected in these scrips will be in minimum market lot i.e. 1,600 equity shares for Deepak Chemtex and 1,000 shares for Amic Forging and the same shall be modified by the exchange from time to time by giving prior market notice of at least one month.
The BSE SME scrips are listed under the ‘M’ group (trading and clearing & settlement is done on a net basis) and those listed under ‘MT’ group (trading and clearing & settlement done on gross basis).
BSE SME Platform offers an entrepreneur and investor friendly environment, which enables the listing of SMEs from the unorganized sector scattered throughout India, into a regulated and organized sector.
Amic Forging manufactures precision machined components such as rounds, shafts, blanks, and complete finished engineering, spare parts e.g. gear coupling, hub, round, flange, and other all kinds of engineering spares as per customer specifications and international standards like AISI, BS, IS, DIN, etc.
The company caters to the requirements of various industries such as heavy engineering, steel industry, oil & gas, petrochemicals, chemicals, refineries, thermal power, nuclear power, hydro power, cement industry, sugar and other related industries. These products are mainly manufactured in carbon steel, alloy steel, stainless steel, nickel, and tools alloys.
Meanwhile, Deepak Chemtex is engaged in the business of manufacturing colorants for applications in food, drug, cosmetics, cleaning compounds, agriculture, and other industries.
The company manufactures FDC (Food, Drug, and Cosmetic) colors used in confectionary, bakery, desserts, beverages, dairy products, seasonings, pet foods, pharmaceutical products, cosmetics & personal care products. It also manufactures salt-free dyes used in the inkjet industry, pond dyes used in ponds, lakes, swimming pools, etc, and other colorants used in car wash products, portable sanitation cleaners, detergent & soap, fuel, oil & lubricants, smoke, seed treatment, crop protection, fertilizer indicators, floral dyes, etc.
