Anupam Rasayan IPO will close on March 16 and the shares are likely to be listed on BSE and NSE
Anupam Rasayan’s Rs 760 crore initial public offer (IPO) will open for bidding on March 12. The specialty chemical company has fixed the issue price at Rs 553-555 per share. The issue will close on March 16 and the shares are likely to be listed on the BSE and NSE.
Anupam Rasayan’s IPO will be a fresh issue of equity shares, according to the draft document filed with SEBI. The issue will have 50 per cent quota reserved for QIBs, 15 per cent for non-institutional investors and 35 per cent for retail investors. Some portion will also be reserved for the employees.
Investors can put bids for a minimum of 27 equity shares and in multiples of 27 equity shares thereafter, upto 13 lots.
The company plans to use the IPO funds to repay / pre-pay debt and for general corporate purposes.
Anupam Rasayan started operations in 1984. It currently has two business verticals, viz. life science-related specialty chemicals comprising products pertaining to agro-chemicals, personal care and pharmaceuticals; and other specialty chemicals, comprising specialty pigment and dyes, and polymer additives.
Axis Capital, Ambit Private, IIFL Securities and JM Financial are the are the book-running lead managers to the issue.