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

 Specialty Chemicals Company, Chemcon Subscribed 5.20 times on Day 1 of Bidding

Mumbai, September 21, 2020: Leading manufacturer of speciality chemicals, Chemcon Speciality Chemicals Limited received bids of 3,40,29,600 shares against the offered 65,47,061 shares, as per the 5pm data available on the websites of BSE and NSE. The portion reserved for retail investors was subscribed 9.86 times. Non-Institutional Investor category was subscribed 1.24 times and Qualified Institutional Buyer category was subscribed 0.00 times.

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.  A total of 4 Mutual funds had applied through 7 schemes. The bidding for the IPO closes on Wednesday, September 23, 2020.  The Company is proposing to raise ₹318.00 crore 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 price band has been fixed at Rs. 338 – Rs. 340 per Equity Share.

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.

About Chemcon:

Chemcon is an ISO 9001:2015 and ISO 14001:2015 certified company for the “Manufacture and supply of pharmaceutical intermediates, silanes and oilfield chemicals”. The Company is a leading manufacturer globally of the Pharmaceutical Chemicals and a leading manufacturer in India of the Oilwell Completion Chemicals as per the Frost & Sullivan Report. The Company is a manufacturer of  specialised chemicals, such as HMDS and CMIC which are predominantly used in the pharmaceuticals industry (the “Pharmaceutical Chemicals”), and inorganic bromides, namely Calcium Bromide, Zinc Bromide and Sodium Bromide, which are predominantly used as completion fluids in the oilfields industry (the “Oilwell Completion Chemicals”).Its manufacturing facility is located at Manjusar near Vadodara in Gujarat and spread across approximately 29,000 square metres. Its Corporate Office is located in Vadodara and their sales and marketing offices are located in Hyderabad and Mohali. The Manufacturing Facility currently comprises of seven individual operational plants (the “Operational Plants”), each dedicated to the manufacturing of specific products of the Company. The aggregate volumetric reactor capacity of these seven Operational Plants was 374.85 KL as on July 31, 2020.The Company was the only manufacturer of HMDS in India and was the third largest manufacturer of HMDS worldwide in terms of production in the calendar year 2019 (source: Frost & Sullivan Report). The Company was the largest manufacturer of CMIC in India and the second largest manufacturer of CMIC worldwide, in terms of production and capacity in calendar year 2019 (source: Frost & Sullivan Report). Further, the Company was the only manufacturer of Zinc Bromide and the largest manufacturer of Calcium Bromide in India, in terms of production in calendar year 2019 (source: Frost & Sullivan Report).