Anupam Rasayan IPO: The IPO market continues to stir. This week, another company is about to launch its IPO. The IPO of Anupam Chemicals, a company that makes specialty chemicals, will open on March 12. The company plans to raise Rs 760 crore through an IPO. On February 26, the IPO of Anupam Chemicals was approved by SEBI. Anupam Chemicals has fixed the price band for the IPO at Rs 553-555 per share. The IPO will open on 12 March i.e. Friday and it can be invested by 16 March. Markets will be closed on 13 and 14 March.
Anupam Rasay has kept lot size of 27 shares for the IPO. That is, at least 27 shares have to be bid. For the upper price band of Rs 555, an amount of at least Rs 14,985 will be required. At the same time for a maximum of 13 lots i.e. 194,805
Can apply Rs.
Use of funds to reduce debt
In the document prepared for the IPO of Anupam Chemicals, it has been said that the amount received from the IPO will be used mainly in the payment of debt. 2.2 lakh shares will be reserved for employees of the company in the IPO of this company based in Surat.
Anupam has appointed Axis Capital, Ambit Private, IIFL Securities and JM Financial as the book running lead managers for the issue for its IPO. KFintech Private Limited is the registrar for the IPO.
About the company
Anupam Rasayan started functioning in 1984. Earlier she used to make traditional products. Now she makes specialty chemicals. Anupam has 6 multi-purpose manufacturing plants in Gujarat. Their total capacity is about 23,396 MT. The company mainly produces products for the agrochemical, personal care and pharmaceutical sectors. These segments accounted for over 95 per cent of the revenue in FY 2019-20. Its customers include Syngenta Asia Pacific, Sumitomo Chemical Company and UPL Limited.
11th IPO of the year
Anupam Chem will be the 11th IPO of the year. Prior to this, IRFC, Indigo Paints, Home First Finance, Stove Craft, Brookfield India REIT, Nureka, RailTel Corporation of India, Heramba Industries, MTAR Technologies and Easy Trip Planners have launched their IPOs.