Anupam Rasayan’s ₹760 crore IPO is set to open on Monday — price band for the issue at ₹553-555 per share
- A ₹760-crore initial share-sale of Anupam Rasayan is set to make its way to the public markets on Friday (March 12).
- Anupam Rasayan commenced operations in 1984 with conventional products, and now it makes speciality chemicals that involve multi-step synthesis and complex chemistries.
- The company mainly caters to the agrochemical, personal care and pharmaceutical sectors, which accounted for over 95% of its revenues in 2019-20.
- Check out the latest news and updates on Business Insider.
The company has fixed a price band of ₹553-555 a share for its IPO. The three-day public issue will close on March 16. It plans to use the funds to repay its debt partly. As of September, the company had a total debt of ₹814.48 crore, and it plans to repay at least ₹556.20 crore in debt.
The Surat-based company has reserved about 2.20 lakh shares for employees. Half of the issue is reserved for qualified institutional buyers, 35% for retail investors and 15% for non-institutional bidders.
AdvertisementAnupam Rasayan commenced operations in 1984 with conventional products, and now it makes speciality chemicals that involve multi-step synthesis and complex chemistries. Anupam Rasayan’s business has two verticals — life science related to speciality chemicals and other speciality chemicals. The life science-related speciality chemicals are used in agrochemicals, personal care, and pharmaceutical sectors, whereas the other is used for pigment, dyes, polymer additives, etc.
Anupam Rasayan IPO opens on Friday
|Opens on||March 12|
|Closes on||March 15|
|Price band||₹553-555 per share|
|Minimum bid||27 equity shares|
|Reservation for qualified institutional buyers||50%|
|Reservation for non-institutional buyers||15%|
|Reservation for retail investors||35%|
Once the IPO is concluded, the equity shares will be listed on both the exchanges — BSE and NSE. Axis Capital, Ambit Private, IIFL Securities, and JM Financials are the book running lead managers for its public offering IPO.
Anupam Rasayan IPO: All you need to know
- The company mainly caters to the agrochemical, personal care and pharmaceutical sectors, which accounted for over 95% of its revenues in 2019-20. Its clients include Syngenta Asia Pacific, Sumitomo Chemical Company and UPL Limited.
- Anupam Rasayan has six multi-purpose manufacturing facilities based in Gujarat with a combined installed capacity of around 23,396 metric tonnes, of which 6,726 metric tonnes was added in March last year.
- Its revenue from operations increased by 45% to ₹539.22 crore in the nine months ended December 31 from ₹371.80 crore in the corresponding year-ago period.
- The grey market is ready to pay a hefty premium for its shares ahead of the IPO. The shares were commanding a premium of ₹290 apiece at a fixed price band of ₹553-555.
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