The initial public offering (IPO) of Anupam Rasayan worth Rs 760 crore will open for subscription on Friday, March 12. The public issue will close on March 16. Just ahead of the IPO, the company on Wednesday, March 10 had raised Rs 225 crore from 15 anchor investors which include Aditya Birla Sunlife Mutual Fund, Nomura Funds Ireland Public Company, Fidelity International, Sundaram MF, SBI Life Insurance Co among others. The shares are likely to list on March 24, 2021, on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
The Rs 760 crore IPO is completely a fresh issue of equity shares where a total of 50 percent will be reserved for QIBs, 15 percent for non-institutional investors and 35 percent for retail investors. Also, the company will reserve some portion for its employees.
Investors who are willing to bid for the IPO can go through the below-mentioned details:
Price band: The issue is priced at Rs 553 to Rs 555 per equity share while the minimum order quantity is 27 shares. However, a retail-individual investor can apply for up to 13 lots that is 351 shares or Rs 1,94,805.
Objective of the issue: The main purpose of the IPO is to use the net proceeds to make prepayment/repayment of the company's indebtedness including, accrued interest and to meet general corporate purposes.
Lead managers: There are four lead managers of Anupam Rasayan IPO namely Ambit Private Limited, Axis Capital Limited, IIFL Holdings Limited and JM Financial Consultants Private Limited.
Registrar: The registrar for the offering is KFintech Private Limited.
How to apply: Investors can apply for the public offering online using either UPI or ASBA as a payment method.
About the company: Incorporated in the year 1984, Anupam Rasayan is one of the leading companies engaged in the cotton synthesis and manufacturing of specialty chemicals in the country. With a combined aggregate installed capacity of around 23,396 metric tonnes, the company has six multi-purpose manufacturing facilities based in Gujarat.