Chemcon Speciality Chemical compounds IPO: The company has mounted the IPO worth band at Rs 338-340 per share.
Chemcon Speciality Chemical compounds’ Rs 318-crore preliminary public present (IPO) opened for subscription on Monday, September 21. Most people present of the specialised chemical merchandise maker will keep open for 3 days until September 23. The Vadodara-based agency has mounted the IPO worth band at Rs 338-340 per share, as it is a book-building problem. The IPO of Chemcon Speciality Chemical compounds incorporates up to date problem of equity shares worth Rs 165 crore and a suggestion available on the market of as a lot as 45 lakh equity shares by the company promoters.
Most people offering might have fairly a bit dimension of 44 shares. Merchants can bid for a minimal 1 lot consisting of 44 shares and in multiples thereafter, extending as a lot as 13 heaps. On the bigger end of the value band, merchants ought to shell out Rs 14,960.
Going into most of the people offering, Chemcon Speciality Chemical compounds had garnered over Rs 95 crore from 13 anchor merchants, along with IDFC Mutual Fund, ICICI Prudential Mutual Fund, IIFL, HSBC Worldwide and Mirae Asset Mutual Fund.
Chemcon Speciality Chemical compounds has launched that it’ll use proceeds from the up to date problem to broaden its manufacturing unit, cope with working capital requirements and for frequent firm features.
The company produces chemical substances similar to HMDS (Hexamethyldisilane) & CMIC (Chloromethyl isopropyl carbonate), which can be predominantly used throughout the pharmaceutical commerce.
Chemcon Speciality Chemical compounds caters to principal dwelling purchasers similar to Laurus Labs, Aurobindo Pharma and Ind-Swift Laboratories, and likewise exports to important markets overseas such as a result of the US, Germany, Italy, South Korea and Japan.
The e-book working lead managers for the IPO are Intensive Fiscal Firms and Ambit Capital, whereas the registrar is Hyperlink Intime India.
