Stocks

Anupam Rasayan’s IPO to open on March 12; price band ₹553–555/share

Our Bureau Mumbai | Updated on March 08, 2021

Bids for Anupam Rasayan India Ltd’s Initial Public Offering (IPO) will open on Friday, even as the Surat-based specialty chemicals company has fixed a price band of ₹553–555 per share.

The issue will close on Tuesday, March 16,

The company had earlier received regulatory approval to raise ₹760 crore through an IPO.

Read The Story: Anupam Rasayan gets nod for IPO

The issue comprises a complete fresh issuance of shares and will be listed on BSE Ltd and the National Stock Exchange of India Ltd. The company proposes to utilise the net proceeds towards repayment of certain debt and for general corporate purposes.

Axis Capital Ltd, Ambit Private Ltd, IIFL Securities Ltd and JM Financial Ltd are the book running lead managers.

Anupam Rasayan is into the custom synthesis and manufacturing of specialty chemicals. The company has two verticals - lifescience-related specialty chemicals comprising products related to agrochemicals, personal care and pharmaceuticals and other specialty chemicals, comprising specialty pigment and dyes, and polymer additives.

As of December 31, 2020, the company operates through six manufacturing facilities - four facilities located in Sachin and Surat and two in Jhagadia and Bharuch – in Gujarat.

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

Published on March 08, 2021
initial public offering
  1. Comments will be moderated by The Hindu Business Line editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.