The Vadodara-based firm has fastened the worth band of the IPO at Rs 338-340 per share.
The Rs 318 crore IPO of Chemcon Speciality Chemical compounds, a producer of specialised chemical merchandise, will open for bidding on Monday i.e. September 21. The problem will probably be open between September 21 and September 23. The Vadodara-based firm has fastened the worth band at Rs 338-340 per share.
The book-building IPO of Chemcon Speciality Chemical compounds includes contemporary issuance of fairness shares amounting to Rs 165 crore and a suggestion on the market of as much as 45 lakh fairness shares by the promoters.
The IPO can have so much measurement of 44 shares. Traders will probably be eligible to bid for a minimal 1 lot of 44 shares and in multiples thereof, as much as 13 tons. The minimal software cash for retail buyers will be Rs 14,960, on the higher value band.
Forward of the general public providing, Chemcon Speciality Chemical compounds raised greater than Rs 95 crore from 13 anchor buyers, together with the likes of IDFC Mutual Fund, ICICI Prudential Mutual Fund, IIFL, HSBC International and Mirae Asset Mutual Fund.
The corporate plans to utilise the contemporary problem proceeds to broaden its manufacturing facility, fund working capital necessities and for common company functions. It’ll, nevertheless, not obtain any proceeds from the provide on the market as that might go to promoting shareholders.
Chemcon Speciality Chemical compounds is a number one producer of specialized chemical substances corresponding to HMDS (Hexamethyldisilane) & CMIC (Chloromethyl isopropyl carbonate), that are used within the pharma trade.
The corporate’s key home prospects embrace Laurus Labs, Aurobindo Pharma and Ind-Swift Laboratories. It additionally exports to abroad markets together with the US, Germany, Italy, South Korea, Japan and Russia, amongst others.
Hyperlink Intime India is the registrar of the IPO, whereas Intensive Fiscal Companies and Ambit Capital are the guide operating lead managers.
