NEW DELHI: Surat-based Anupam Rasayan has set the price band for its Rs 760 crore IPO at Rs 553-555 per share. The initial public offer (IPO) will open on Friday and will conclude on March 16.
The issue by the specialty chemicals company comprises entirely fresh issuance of shares and the net proceeds would be utilised towards repayment or prepayment of certain indebtedness and for general corporate purposes. The post-issue implied market capital is pegged at Rs 5,527-5,544 crore.
The company has listed peers such as PI Industries, Navin Fluorine International, Astec Lifesciences and SRF.
Prospective retail investors can bid a minimum of a one lot of 27 shares and in multiple thereof. The retail quota for the issue is set at 35 per cent. The company has kept up to 220,000 shares worth Rs 11 crore reserved for employees, who would also be offered a discount of Rs 55 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
The three-day public issue will close on March 16,Anupam Rasayan said in a statement. The IPO aggregating up to Rs 760 crore is entirely fresh issuance of equity shares and proceeds of the issue would be mainly used to pay 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 per cent for retail investors and 15 per cent for non-institutional bidders. Anupam Rasayan commenced operations in 1984 with conventional products and now it makes speciality chemicals that involve multi-step synthesis and complex chemistries. It has six multi-purpose manufacturing facilities based in Gujarat with a combined aggregate installed capacity of around 23,396 metric tonnes, of which 6,726 metric tonnes was added in March 2020.
New Delhi, Mar 2: Specialty chemical company Anupam Rasayan has received markets regulator Sebi's approval to raise Rs 760 crore through an initial public
Anupam Rasayan gets Sebi s nod for Rs 760-cr IPO dailyexcelsior.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dailyexcelsior.com Daily Mail and Mail on Sunday newspapers.