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Chemplast Sanmar IPO to open for subscription on Aug 10; price band fixed at Rs 530-541

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Chemplast Sanmar IPO comprises a fresh issue of shares worth Rs 1,300 crore and an offer for sale of shares worth Rs 2,550 crore by promoters Sanmar Holdings and Sanmar Engineering Services.

Chemplast Sanmar IPO to open for subscription on Aug 10; price band fixed at Rs 530-541
Chemplast Sanmar, a specialty PVC paste resin manufacturer, will launch its initial public offering (IPO) on August 10 with a price band of Rs 530-541 per equity share.
The Rs 3,850-crore public offer, which will close on August 12, comprises a fresh issue of shares worth Rs 1,300 crore and an offer for sale of shares worth Rs 2,550 crore by promoters Sanmar Holdings and Sanmar Engineering Services. At present, the company is 100 percent owned by the promoters.
The anchor book may open one day before the issue opening date, i.e. August 9.
The IPO market lot size is 27 shares and a retail-individual investor can apply for up to 13 lots. The company has reserved up to 75 percent of the total offer for qualified institutional buyers, 10 percent for retail investors and the remaining 15 percent for non-institutional investors.
The company proposes to utilise the fresh issue proceeds for the early redemption of non-convertible debentures (Rs 1,238.25 crore).
ICICI Securities, Axis Capital, Credit Suisse Securities (India), IIFL Securities, Ambit, BOB Capital Markets, and HDFC Bank are global co-ordinators and book-running lead managers to the issue. IndusInd Bank and YES Securities (India) are also the book-running lead managers to the offer.
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Chemplast Sanmar is the third-largest manufacturer of caustic soda and the largest manufacturer of hydrogen peroxide in the South India region, on the basis of installed production capacity as of December 31, 2020, and one of the oldest manufacturers in the chloromethanes market in India.
It has four manufacturing facilities, of which three are situated at Mettur, Berigai, and Cuddalore in Tamil Nadu, and one in Puducherry at Karaikal.