New Delhi: Anupam Chemicals, a Surat-based chemical company, is going to offer an IPO of Rs 760 crore. The company has kept a price of 553-555 per share for this issue. The company’s issue will open on Friday (March 12) and the issue can be subscribed till Tuesday (March 16).
The entire issue of this specialty chemical company is of fresh shares. Through this issue, the company is about to repay some of its debt and the remaining amount can be used for general corporate needs. After the issue, the company’s market cap can be Rs 5,527-5,544 crore.
The company’s major listed rivals include PI Industries, Naveen Fluorine International, Estec Lifesciences and SRF. Anupam Rasayan works in the synthesis and production of specialty chemicals.
Retail investors will have to bid for at least 27 shares. The lot size is only 27 shares. A 35 per cent stake has been kept for retail investors. The company has reserved 2.2 lakh shares worth Rs 11 crore for its employees. Qualified employees will be given a discount of Rs 55 per share.
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The company has two divisions. The first department includes chemical related to life science. This includes agrochem, personal care and pharma. The second department includes other specialty pigments, dye and polymer-related chemicals.
The company has long-term relationships with Synginta Asia Pacific, Sumitomo Chemical and UPL. Because of this, the company’s products reach Europe, Japan and American. As of 31 December 2020, the company had a total of six production units in Gujarat, of which four were in Sachin in Surat and two in Jhagadia in Bharuch.
The company’s revenue grew at an annual rate of 24.29 per cent from FY 2017-18 to FY 2019-20, while its EBIDTA stood at Rs 134.89 crore in FY 2019-20. In the nine months to 31 December 2020, the company’s revenue grew by 45.03 per cent to Rs 539.22 crore.
The issue will be managed by Axis Capital, Ambit Capital, IIFL Securities and JM Financial. The shares of the company will be listed on both the BSE and NSE exchanges.
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