Sacheerome IPO opens today: Check GMP, price band and other details
The initial public offering (IPO) of
Sacheerome
opens for subscription on June 9 and will remain open until June 11. The SME issue aims to raise Rs 61.62 crore through a fresh issue of 60.41 lakh
equity shares
. The shares will be listed on the NSE SME platform, with a tentative listing date set for June 16.
The IPO is being offered in a
price band
of Rs 96 to Rs 102 per share. The minimum lot size is 1,200 shares, translating into an investment of Rs 1,22,400 for
retail investors
.
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GYR Capital Advisors is the book-running lead manager to the issue, while MUFG Intime India (Link Intime) is the registrar.
About the company
Founded in 1992, Sacheerome is engaged in the design and manufacturing of
fragrances and flavors
. Its product range includes cosmetic fragrances, industrial fragrances, perfumes, food additives, and flavoring essences.
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The company caters to various industries including personal care, home care, air care, pet care, men's grooming, beverages, bakery, confectionery, dairy, and health & nutrition.
Sacheerome exports its products to the Middle East (UAE) and African markets. As of September 2024, the company employed 153 people.
Financial performance
Sacheerome has posted steady growth in revenue and profitability. For the financial year ending March 2025, the company reported revenue of Rs 108.13 crore and a net profit of Rs 15.98 crore, reflecting a 50% growth in profit compared to the previous year.
IPO proceeds and utilization
The company plans to use the IPO proceeds to set up a new
manufacturing facility
in Gautam Buddha Nagar, Uttar Pradesh, and for general corporate purposes.
With its strong R&D capabilities, experienced management team, and efficient sourcing, Sacheerome aims to strengthen its position in the competitive fragrances and flavors market. Investors will be watching closely as the IPO opens today to gauge market sentiment.
(
Disclaimer
: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)
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