Anupam Rasayan initial public offer (IPO) To Open On March 12. Key Things To Know
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Anupam Rasayan’s Rs 760 crore initial public offer (IPO) will open for bidding on March 12. The specialty chemical company has fixed the issue price at Rs 553-555 per share. The issue will close on March 16 and the shares are likely to be listed on the BSE and NSE.
Anupam Rasayan’s IPO will be a fresh issue of equity shares, according to the draft document filed with SEBI. The issue will have 50 per cent quota reserved for QIBs, 15 per cent for non-institutional investors and 35 per cent for retail investors. Some portion will also be reserved for the employees.
Investors can put bids for a minimum of 27 equity shares and in multiples of 27 equity shares thereafter, upto 13 lots.
The company plans to use the IPO funds to repay / pre-pay debt and for general corporate purposes.
Anupam Rasayan started operations in 1984. It currently has two business verticals, viz. life science-related specialty chemicals comprising products pertaining to agro-chemicals, personal care and pharmaceuticals; and other specialty chemicals, comprising specialty pigment and dyes, and polymer additives.
Axis Capital, Ambit Private, IIFL Securities and JM Financial are the are the book-running lead managers to the issue.
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