Anupam Rasayan IPO: The IPO of specialty chemical company Anupam Chemicals is opening on March 12 and will close on March 16. The issue is closing on March 16 due to the holidays between Saturday and Sunday.
The company has raised Rs 225 crore from Anchor Investors before the issue of the IPO. The anchor investors from which the company has raised money include foreign portfolio investors, domestic mutual funds, insurance companies and alternative investment funds.
The price band of Anupam Chemicals IPO has been fixed at Rs 553-555 per share. The company is set to raise Rs 760 crore from the issue. Despite its aggressive pricing, some brokerage houses have recommended buying it.
Anupam Chem’s premium is Rs 225-230 per share in the gray market. In the recent times, the IPO issuing in the market has been listed at a very good price.
Know important issues related to the issue
The lot size of the IPO of Anupam Chemicals is 27 shares. The registrar company of its IPO is KFin Tech.
Anupam Chemicals shares will be allotted on March 19 and its shares may be listed on March 24, 2021.
-The company is only issuing fresh issue. The money raised from this will be used for repayment of debt and other requirements.
50% of the company’s issue is for qualified institutional buyers, 35% for retail investors and 15% for non-institutional buyers.
Post IPO, the promoter’s shareholding in Anupam Chemicals will come down from 75.8 per cent to 65.4 per cent.
-Anupam Chemicals issue merchant bankers are Axis Capital, Ambit Private and IIFL Securities.
-The company is in the custom synthesis and specialty chemical manufacturing business. The company started in 1984.
– In the quarter ended September 30, the company made a profit of Rs 26.48 crore. At the same time, the company had a profit of Rs 21.74 crore in this period last year. The company received revenue of Rs 355.13 crore in the second quarter of this financial year, an increase of 51.5% over the previous year.
The company has 6 manufacturing units in Gujarat, with 4 factories located at Sachin (Sachin) near Adani Hajira Port and two units in the industrial area of Jhagadia. The units have a production capacity of 23,396 metric tons of chemicals, of which 6,726 metric tons of capacity has been added in March this year.
The company’s customers range from India to Europe and America, Japan. Syngenta Asia Pacific, Sumitomo Chemical Company, UPL Ltd are its main clients.
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