कोल्हापूर फिल्म कंपनी 'विठ्ठल दर्शन' अभिनेते जितेंद्र जोशी सादरीकरण करणार

 Chemcon Speciality Chemicals Ltd. IPO Subscribed 149.14 Times on Day 3, with strong a NIB subscription of 450.52 times

 

Mumbai, September 23, 2020: Leading manufacturer of Speciality chemicals, Chemcon Speciality Chemicals Limited’s IPO was subscribed 149.14 times on the third day of bidding. The IPO received bids for 976,426,440 shares as against the offered 6,547,061 shares, as per data available on the stock exchanges. The Price Band of the Issue was fixed at Rs 345-350 per equity share. The portion reserved for retail investors was subscribed 40.40 times. Non-Institutional Investor category was subscribed 450.52 times and Qualified Institutional Buyer category was subscribed 113.43 times.

The Company is proposing to raise ₹ 318.00 crore at upper price band via the fresh issue of ₹165 crore and OFS of 45,00,000 equity shares. The minimum bid lot is 40 shares thereafter in multiples. The Company raised 95.39 crs from 13 investors which included well known institutions such as IDFC Mutual Fund, ICICI Prudential, IIFL, HSBC Global, Mirae Asset Mutual Fund, Tata Mutual Fund amongst others.

The only manufacturer of HMDS in India and the third largest manufacturer of HMDS in terms of production in CY 2019 (Source: Frost & Sullivan Report), Chemcon has reported revenue from Operations of ₹ 262.05 crore with EBITDA of ₹ 70.26 crore and Profit after Tax is ₹ 48.85 crore in FY 2020. It has grown at a 29% CAGR in sales, 25% in EBITA and 36% in PAT between FY18 and FY20.

Intensive Fiscal Services Private Limited and Ambit Capital Private Limited are the BRLMs to the Issue.

The shares will be listed on both, BSE and the NSE.