Chemspec Chemicals files DRHP with SEBI for Rs 700-crore IPO

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Chemspec Chemicals IPO consists of an offer for sale of shares by promoters aggregating up to Rs 700 crore, comprising up to Rs 233.4 crore by Bhaichand Amoluk Consultancy Services LLP, up to Rs 233.3 crore by Mitul Vora and up to Rs 233.3 crore by Rushabh Vora.

Chemspec Chemicals files DRHP with SEBI for Rs 700-crore IPO
Chemspec Chemicals, a manufacturer of additives for FMCG ingredients, has filed Draft Red Herring Prospectus (DRHP) with the market regulator SEBI for its Initial Public Offering (IPO).
The IPO consists of an offer for sale of shares by promoters aggregating up to Rs 700 crore, comprising up to Rs 233.4 crore by Bhaichand Amoluk Consultancy Services LLP, up to Rs 233.3 crore by Mitul Vora and up to Rs 233.3 crore by Rushabh Vora.
JM Financial Limited and Axis Capital Limited are the Book Running Lead Managers to the issue.
Chemspec is one of the largest manufacturers of UV absorbers globally and is among the top two global manufacturers of personal care ingredients catering to skin and hair care.
The Company is also the largest manufacturer of ‘piroctone olamine’ in India, and the largest producer of ‘chemilide’ (an anti-bacterial ingredient) in the world with an approximate market share of 70 percent.
In the last three fiscals, the global distribution network of Chemspec was spread across 43 countries in North America, Europe, the APAC region (including Japan), the Middle East and Africa.
The company’s revenue for the fiscal year 2021 stood at Rs 505.91 crore as compared to Rs 596.61 crore a year ago. Net profit in FY21 rose to Rs 81.08 crore from Rs 60.75 crore in FY20.
The company has its manufacturing facility at Taloja and it had a production capacity of 6,000 TPA as of March 2021.

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Cipla889.90 -23.20 -2.54
Tata Motors284.45 -6.95 -2.39
Dr Reddys Labs4,731.75 -111.60 -2.30
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