Chemplast Sanmar IPO opens on the present time: Here’s every little thing you want to take hang of

Chemplast Sanmar IPOChemplast Sanmar became delisted virtually a decade from the stock exchanges. (Consultant image: Pixabay)

Chemplast Sanmar IPO: The initial public offering (IPO) of specialty chemical substances producer Chemplast Sanmar opened for subscription on Tuesday, August 10, 2021, at a ticket band of Rs 530-541 per fragment. The offer would perchance be readily available till Thursday, August 12, 2021.

By the offer, Chemplast Sanmar goals to enhance Rs 3,850 crore with the abet of a fresh subject of equity shares rate Rs 1,300 crore and an offer in the marketplace (OFS) of Rs 2,550 crore. The OFS comprises the sale of Rs 2,463.44 crore by Sanmar Holdings and Rs 86.56 crore by Sanmar Engineering Products and companies.

The Chennai-based totally mostly firm is a number one specialty chemical substances producer with a focus on specialty paste PVC (polyvinyl chloride) resin and custom manufacturing of starting materials and intermediates for pharmaceutical, agro-chemical and gleaming chemical substances sectors.

The firm became delisted virtually a decade ago from the stock exchanges. It became delisted from BSE, NSE and MSE with attain from June 25, 2012, June 18, 2012, and June 25, 2012, respectively.

Chemplast Sanmar mentioned it would perchance perchance utilise an combination amount of Rs 1,238.25 crore from the get proceeds against early redemption of the non-convertible debentures (NCDs) issued by it. To boot, funds would perchance also be extinct for long-established company solutions.

A total of 75 per cent of the topic measurement has been reserved for licensed institutional patrons (QIBs), 15 per cent for non-institutional patrons and 10 per cent for retail patrons.

Merchants who make a selection to subscribe to the Chemplast Sanmar IPO can recount in a vogue of 27 equity shares and multiples thereafter. On the upper ticket band, they are going to be allotting Rs 14,607 to get a single lot of Chemplast Sanmar. The shares would perchance be listed on both BSE to boot as the National Stock Alternate (NSE).

The applicants also must existing that the lower-off time for UPI mandate confirmation is Friday, August 13, 2021, upto 12: 00 pm. In the occasion that they fail to create so then their utility would perchance perchance now not be considered.

ICICI Securities, Axis Capital, Credit rating Suisse Securities (India), IIFL Securities, Ambit, BOB Capital Markets and HDFC Monetary institution are the arena coordinators and e book working lead managers, whereas IndusInd Monetary institution and YES Securities (India) are the e book working lead manager to the IPO. KFin Applied sciences is the registrar of the topic.

Sooner than heading into the IPO, Chemplast Sanmar raised over Rs 1,732 crore (Rs 17,32,49,99,689) from 78 anchor patrons in lieu of 3,20,24,029 equity shares at Rs 541 each, data from the stock exchanges confirmed.

The anchor patrons consist of the likes of SBI Mutual Fund (MF), Axis MF, ICICI Prudential MF, HDFC MF, HDFC Life Insurance Firm, Abu Dhabi Investment Authority, Kuber India Fund, Goldman Sachs (Singapore) Pte, Nomura, Morgan Stanley Asia (Singapore) Pte Ltd and Citigroup World Markets Mauritius amongst others.

The fragment part is inclined to happen on August 18, 2021, and the shares are expected to be listed on August 24, 2021, in step with the timeline given in the crimson herring prospectus (RHP).

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