Shares of SK Minerals & Additives made a strong debut on the BSE SME platform, listing at ₹145, a 14% premium over the IPO issue price of ₹127. This positive market response indicates investor confidence and interest in the company as it enters the public market.
The company had offered 32.4 lakh equity shares through its maiden public offering, aiming to raise ₹41.15 crore. The IPO, which opened on October 10 and closed on October 14, was subscribed 3.52 times, with strong participation from non-institutional investors.
SK Minerals & Additives specializes in manufacturing and supplying specialty chemicals and minerals, including products like chelated minerals, calcium propionate, and technical-grade urea, utilized in various industries such as food and bakery, animal feed, plywood, petroleum, and poultry. The company plans to use the funds raised from the IPO for working capital requirements and capital expenditure towards the purchase of plant and machinery.
The successful listing of SK Minerals & Additives reflects a positive sentiment towards the company’s growth prospects and the broader investor interest in the specialty chemicals sector.
