Chemplast Sanmar is a leading supplier of intermediates for global agrochemical, pharmaceutical and fine chemical innovators.- The speciality
chemicals manufacturer is looking to raise ₹3,850 crore starting with a price band of ₹530-₹541 per share. - The IPO of the company will open on August 10 and close on August 12.
Chemplast Sanmar is a speciality chemical manufacturer with a focus on specialty paste poly vinyl chloride (PVC) resin and custom manufacturing of starting materials and intermediates for pharmaceutical, agro-chemical and fine chemicals sectors.
The company is looking to raise ₹3,850 crore via IPO that will comprise of ₹1,300 crore fresh issue and offer for sale up to ₹2,550 crore from existing shareholders.
It has set a price band of ₹530 to ₹541.
The company also manufactures caustic soda, chlorochemicals, hydrogen peroxide, refrigerant gas and industrial salt.
It has four manufacturing facilities, of which three are located in Tamil Nadu and one is located in Puducherry. Moreover, the company is a part of Sanmar Group.
The company has acquired Chemplast Cuddalore Vinyls in FY21, which is the second largest manufacturer of suspension PVC resin in India and the largest manufacturer in the South India region.
The IPO proceeds will be utilised on early redemption of non-convertible debentures (NCDs) issued by the company in full and for meeting general corporate purposes.
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