Anupam Rasayan IPO: You will soon get another investment opportunity in the IPO market. Anupam Rasayan, a specialty chemical maker, has received market regulator SEBI approval for its initial public offering (IPO) of Rs 760 crore. The company submitted documents for the IPO in December. On February 26, the IPO of Anupam Chemicals was approved by SEBI. SEBI approval is required for IPOs, follow-on public offers and rights issues. The company will use the proceeds from the issue to repay the debt.
Use of funds to reduce debt
This information has been given on the SEBI website. Anupam has appointed Axis Capital, Ambit Private, IIFL Securities and JM Financial as merchant bankers for its IPO. If any company plans an IPO, FPO or rights issue, then it has to get necessary observations from SEBI. Some shares in the IPO of this company based in Surat will be reserved for the employees of the company. The company can also give a discount in the price of the shares to the employees. 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.
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.
8 IPOs so far this year
Talking about the year 2021, 8 IPOs have come so far. These include companies such as IRFC, Indigo Paints, Home First Finance, Stove Craft, Brookfield India, Heranba Industries, Nureca Limited and RailTel.
These IPOs are coming
In March 2021, 10 to 12 companies can launch their IPO. The IPO of MTAR Technology will open from 3 to 5 March. The company plans to raise Rs 596 crore from this IPO. The price band for this IPO has been kept at Rs 574-575 and the face value is Rs 10 per equity share. Laxmi Organics, a company that makes specialty chemicals, may come out with an IPO of Rs 800 crore in March. It has also received SEBI approval.
Apart from this, companies which are in the queue for IPO, Kalyan Jewelers IPO of 1750 crores, Sunrise Small Finance Bank’s IPO of Rs 400 crores, Barbecue Nation’s IPO of 1000 to 1200 crores, Craftsman Automation’s 180 crores IPO, Najara Technologies has an IPO of Rs 900–1000 crore, Annai Infra Developers ’IPO of Rs 250 crore, apart from companies like Aadhaar Housing Finance and India Pesticides.