Anupam Rasayan repays significant debt from IPO proceeds
Premium- Anupam Rasayan has repaid ₹470.73 crore debt from the net proceeds of its initial public offering, resulting in significant savings in its finance cost
Mumbai: Anupam Rasayan India Ltd, which listed on the bourses on 24 March, has repaid ₹470.73 crore debt from the net proceeds of its initial public offering, resulting in significant savings in its finance cost, the company said on Monday.
Shares of Anupam Rasayan India were down marginally at ₹552 in a weak market. The benchmark index, Sensex crashed 3.25% today.
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The company's total debt as on 31 December 2020 stood at ₹841.975 crore.
The ₹760 crore IPO of Anupam Rasayan India, was sold from March 12 to 16, and had received 44.06 times bids, with the HNI quota (NII) receiving 97.42 times subscription, the QIB quota 65.74 times and the retail quota 10.77 times.
It was listed at a discount of 3.66% from its IPO price of ₹555 per share. It had garnered ₹225 crore from anchor investors ahead of the IPO.
On a consolidated basis, the company reported a net profit of ₹48.1 crore and revenue of ₹539.22 crore in the nine months ended on 31 December 2020.
Anupam Rasayan manufactures a variety of intermediates and ingredients for insecticides, fungicides and herbicides for agrochemical companies. Besides, it also produces anti-bacterial and ultraviolet protection ingredients for FMCG and pharma companies.
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