Image Source : INDIA TV Anupam Rasayan IPO: Check value band, date and extra
The IPO of speciality chemical firm Anupam Rasayan is open for subscription. The public situation will shut on March 16. The firm has fastened a value band of Rs 553-555 a share for its Rs 760-crore preliminary share-sale.
Anupam Rasayan stated that it raised Rs 225 crore from anchor buyers forward of its preliminary share-sale. It has been determined to allocate 40,48,647 shares to fifteen anchor buyers at Rs 555 per share, which is the higher band of the preliminary public supply. At this value, the corporate has mopped-up Rs 225 crore, in response to a round uploaded on BSE web site.
The anchor guide noticed participation from a number of swimming pools of capital, together with overseas portfolio buyers, home mutual funds, insurance coverage firms and different funding funds. Also, the guide noticed participation from buyers throughout the globe, together with India, Asia, the UK and the US.
Among the 15 anchor buyers are Aditya Birla Sunlife Mutual Fund (MF), Nomura Funds Ireland Public Ltd Company, Fidelity International, Sundaram MF, SBI Life Insurance Co, IIFL Special Opportunities Fund, Malabar Select Fund and Max Life Insurance Co.
The IPO is a completely recent issuance of fairness shares and proceeds of the problem can be primarily used to pay the debt.
The Surat-based firm has reserved about 2.20 lakh shares for workers. Half of the problem is reserved for certified institutional consumers, 35 per cent for retail buyers, 15 per cent for non-institutional bidders.
Anupam Rasayan commenced operations in 1984 with standard merchandise and now it makes speciality chemical substances that contain multi-step synthesis and complicated chemistries. It has six multi-purpose manufacturing amenities based mostly in Gujarat with a mixed combination put in capability of round 23,396 metric tonne, of which 6,726 metric tonne was added in March 2020.
The firm primarily caters to the agrochemical, private care and pharmaceutical sectors, which accounted for over 95 per cent of its revenues in 2019-20. Its purchasers embody Syngenta Asia Pacific, Sumitomo Chemical Company and UPL Limited. The firm’s income from operations elevated by 45 per cent to Rs 539.22 crore within the 9 months ended December 31, 2020, from Rs 371.80 crore within the year-ago interval.
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