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Anupam Rasayan IPO to list on Exchanges Today: All You Need to Know

stocks, shares,

stocks, shares,

The initial public offering (IPO) of the company opened on March 12 and concluded on March 16.

On Wednesday, March 24, shares of Anupam Rasayan will list on stock exchanges. The initial public offering (IPO) of the company opened on March 12 and concluded on March 16. The Rs 760-crore public offering was subscribed 44,06 times. The issue was subscribed 10.77 times in the retail category followed by 65.74 times in the qualified institutional buyers (QIB) category and 97.42 times in the non-institutional investors (NII) category. The price band fixed for the sale of the issue was Rs 553-Rs 555 per share.

The lot size of the IPO was 27 shares and the minimum order quantity was 1 lot i.e. 27 shares. The agenda behind the IPO was to use the net proceeds to make prepayment or repayment of the company’s indebtedness including accrued interest and to meet general corporate purposes.

Anupam Rasayyan shares were trading at Rs 625 in the grey market on Tuesday implying a grey market premium of 12.6 percent over the issue price. According to analysts, the listing is expected to be 10 percent to 15 percent above the issue price. The company will join its peers including Navin Fluorine International Ltd, PI Industries etc. upon successful listing on the exchanges.

Talking about the company, Anupam Rasayan was incorporated in 1984 and is one of the leading companies indulged in the cotton synthesis and manufacturing of speciality chemicals in India. The business has two verticles namely Life Science related specialty chemicals and other specialty chemicals including pigment and dyes, polymer additives, among others.

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The company has also built strong long-term relationships with many multinational companies such as Syngenta Asia Pacific Pte Ltd, Sumitomo Chemical Company Ltd, etc with a motive to expand geographical reach across countries like United States, Europe, among others.

In the year 2021, the Indian markets have witnessed IPO listing of 10 companies so far and Anupam Rasayan India will be the 11th company to get listed.

first published:March 24, 2021, 10:51 IST