Anupam Rasayan

Anupam Rasayan overall subscribed 44.22 times on Day 3 

Mumbai, March 16, 2021: Surat based, custom synthesis and manufacturing focused specialty chemicals company Anupam Rasayan India Limited; received bids of 42,74,80,578 shares against the offered 96,66,848 equity shares, as per the 5:00 pm data available on the bourses.

The portion reserved for retail investors was subscribed 10.81 times. While the Qualified Institutional Buyer was subscribed 65.99 times, the Non-Institutional Investor category was subscribed 97.78 times.  The Employee category was subscribed 1.71 times. The number of applications received were approximately 16,49,136.

Key brokerage houses like ICICI Direct, Motilal Oswal, Canara Bank Securities Ltd, Kotak Securities, Angel Broking, HEM Securities, Choice Capital, BP Securities and Ventura have highlighted the key strengths of the company like diversified customer base, core focus on process innovation and constant upgradation, consistent R&D, stringent quality specifications, strong and long-term client relationships, marquee client base amongst others. These report have further highlighted the Company’s consistent track record of financial performance and experienced management as one of the key advantages of the Company.

The reports have also highlighted that India’s specialty chemicals industry is expected to grow at a CAGR of approximately 10% to 11% over the next five years and that India accounts for approximately 1% to 2% of the global exportable specialty chemicals; which indicates a large scope of improvement and widespread opportunity in the Speciality chemicals segment.

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

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