Anupam Rasayan India, speciality chemicals company, opened its ₹760-crore initial public offering (IPO) for subscription on Friday with the price band of ₹553-555 per share. The issue, which will close on March 15, includes a fresh issue, the net funds of which will be utilised for debt repayment, according to a statement by the company. Incorporated in 1984, Anupam Rasayan operates in two business verticals: life sciences-related speciality chemicals that are used in agrochemicals, personal care and pharmaceuticals; and speciality pigment and dyes and polymer additives.
Here’s everything you need to know about the initial public offering made by Anupam Rasayan:
1. Before the IPO, the company raised ₹225 crore from anchor investors in which it allocated ₹40.48 lakh shares to 15 anchor investors at ₹555 per share. Some of the anchor investors of the company are Aditya Birla Sunlife Mutual Fund (MF), Nomura Funds Ireland Public Ltd Company, Fidelity International, Sundaram MF, SBI Life Insurance Co, IIFL Special Opportunities Fund, Malabar Select Fund and Max Life Insurance.
2. Through the IPO, investors can bid for a minimum of 27 equity shares after which they can bid in multiples and the minimum investment has been set at ₹14, 985.
3. The book running lead managers of the issue are Axis Capital Ltd, Ambit Private Ltd, IIFL Securities Ltd and JM Financial Ltd.
4. The registrar for the IPO is KFin Technologies Private Ltd, Marwadi Shares and Finance Ltd.
5. The company will utilise net proceeds from the IPO for repayment of debt and for general corporate purposes.
6. The company has six manufacturing facilities which are located in Gujarat with an aggregated installed capacity of 23,438 MT as of December 31, 2020.
7. In the financial year 2020, the life science-related speciality chemicals vertical contributed 95.37 per cent to the revenue of the company and the other speciality chemicals contributed 4.63 per cent to the revenue.
8. The company also saw strong revenue growth of 24.3 per cent compound annual growth rate (CAGR) between the financial years 2018 and 2020.