The listing of shares of Chemplast Sanmar managed to be above the issue price today. The shares of the company have been listed at Rs 550. Whereas its issue price was Rs 541.
The issue of specialty chemical company Chemplast Sanmar was subscribed 2.17 times. The issue of the company opened on August 10 and closed on August 12.
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Chemplast Sanmar is one of the largest manufacturers of specialty chemicals in Chennai. Chemplast Sanmar had issued an issue of Rs 3850 crore. In this, a fresh issue of Rs 1300 crore and shares of Rs 2550 crore were issued in the offer for sale.
what does the company do
Foreign billionaire Prem Vats has a huge investment in Chemplast Sanmar. The company manufactures paste PVC, chloro chemicals, caustic soda, hydrogen peroxide and refrigerant gas. It is also present in the contract manufacturing segment.
The revenue of Sanmar Group is more than 1 billion dollars i.e. 7300 crores. Chemplast Sanmar Ltd manufactures paste PVC, chloro-chemicals, caustic soda, hydrogen peroxide and refrigerator gas. Let us tell you that the Paste PVC business in the country is growing between 10 to 13% annually.
It is part of the Sanmar Group which is the oldest business house in South India. There are many experienced people in the management of the company, whose benefits are given to the company.
This is the seventh IPO to come up this month. Earlier, IPOs of Devyani International, Windlass Biotech, Xaro Tiles, Krishna Diagnostics, Cartrade Tech and Nuvoco Vista Corporation have opened.
Chemplast Sanmar is a part of Chennai-based business group Sanmar. The Sanmar Group is associated with the chemicals, shipping and engineering segments.
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