Chemcon Speciality Chemicals, a Vadodara-based leading manufacturer of specialty chemicals, is set to be listed. The IPO closed for subscription on September 23 with a price band of Rs 338-340 per equity share.
Along with CAMS, Chemcon Speciality Chemicals is also likely to be listed on October 1.
The Rs 320-crore public offer consists of a fresh issue of Rs 165 crore and an offer for sale of 45 lakh equity shares (Rs 153 crore at upper price band) by promoters Kamalkumar Rajendra Aggarwal and Naresh Vijaykumar Goyal. This would result in the promoter’s stake reducing from 100 percent pre-IPO to 74.5 percent post-IPO.
The funds raised from the fresh issue will be utilised to meet the working capital requirement, CAPEX towards the expansion of manufacturing facility and general corporate purposes.
Brokerage houses have advised subscribing to the issue on the back of consistent financial performance, leading position in specialty chemicals and improving outlook for the sector.
So, how do you check how many shares you have been allotted? The procedure is simple, as mentioned below:
About the company: Incorporated on December 15, 1988, the firm is a manufacturer of specialised chemicals, such as Hexamethyldisilazane/Hexamethyldisilane(HMDS)and Chloromethyl Isopropyl Carbonate (CMIC) which are predominantly used in the pharmaceuticals industry
The company is the only manufacturer of HMDS in India and 3rd largest manufacturer of HMDS worldwide (as per Frost & Sullivan report) in terms of CY19 production with an opportunity to grow at CAGR of 15-20 percent over FY19-FY23.
The company's revenue from operations is Rs 262.05 crore, up by 29 percent with EBITDA of Rs 70.26 crore, up by 25 percent between FY18 and FY20. In FY20, the company's profit after tax was up by 36 percent at Rs 48.85 crore.
First Published: IST