Chemplast Sanmar IPO: Offering open till 12 August: All you need to know about Chennai-based company
each share of Sanmar has a price band of Rs 530 to Rs 541, with 32,024,029 equity shares that will be allocated to anchor investors
Representational image.
Specialty chemicals manufacturer in India, Chemplast Sanmar today, 10 August has opened their initial public offering (IPO). The Chennai-based company has opened the three-day IPO for public subscription from 10 to 12 August.
The Chemplast Sanmar firm caters to a special focus on paste polyvinyl chloride (PVC) resin, manufacturing of custom materials, and intermediaries for sectors including pharmaceutical, agro-chemical and fine chemicals.
The firm in a statement recently stated that they have collected Rs 1,732 crore from investors who are interested in its initial sale of shares.
Check details on Chemplast Sanmar IPO:
- The company is has a net worth of Rs 3,850 crore. The Chennai-based firm comprises fresh issuance of equity shares worth Rs 1,300 crore, and Rs 2,550 crore in offer for sale (OFS).
- As per the OFS, the company includes the sale of Rs 2,463.44 crore by Sanmar Holdings Limited and another by Sanmar Engineering Services Limited with Rs 86.56 crore.
- In a statement that was released on Monday, the company explained that they will utilise Rs 1,238.25 crore from the net proceeds towards an early of the non-convertible debentures (NCD) issued by the firm. As per the early redemption, the firm asserted that it will work to reduce the outstanding indebtedness along with debt servicing costs.
- According to recent updates, each share of Sanmar has a price band of Rs 530 to Rs 541, with 32,024,029 equity shares that will be allocated to anchor investors. Also, as per a circular reported on the Bombay Stock Exchange (BSE), the transaction values for the firm are Rs 1,732.5 crore.
- Among the many big names, ICICI Securities, Axis Capital, Credit Suisse Securities, India Infoline Limited (IIFL) Securities, IndusInd Bank, BOB Capital Markets, HDFC Bank, Ambit, and Yes Securities are the merchant bankers.
- Moreover, investors interested in the firm are permitted to bid for a minimum of 27 equity shares following which they can bid in multiples of 27 equity shares.