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<\/div>\n\tLeading manufacturer of speciality chemicals, Chemcon Speciality Chemicals Limited will be opening its initial public offering for subscription on September 21, 2020, and will close on September 23, 2020, with a price band of Rs338\u2013Rs340 per Equity Share.<\/p>\n
Bids submitted by Anchor Investors will be submitted and allocated one Working Day prior to the Bid\/Issue Opening Date, being September 18, 2020.<\/p>\n
The Company is a leading manufacturer of speciality chemicals such as Hexamethyldisilazane (HMDS) and Chloromethyl Isopropyl Carbonate (CMIC) which are chemicals predominately used in the pharmaceutical industry. It manufactures Inorganic Bromides used as completion fluids in the oilfield industry.<\/p>\n
Highlights:<\/strong><\/p>\n<\/div>\n
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\n<\/ul>\n The Issue is being made through the book building process in accordance with Regulation 6(1) of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended, where allocation to QIBs is not more than 50% of the Issue size, Non-Institutional Bidders is not less than 15% of the Issue size and Retail Individual Bidders is not less than 35% of the Issue size.<\/p>\n The Company intends to utilize the Net Proceeds from the Fresh Issue towards capital expenditure towards expansion of the Manufacturing Facility, To meet working capital requirements and towards general corporate purposes.<\/p>\n Intensive Fiscal Services Private Limited and Ambit Capital Private Limited are the BRLMs to the Issue.<\/p>\n<\/div>\n \n <\/div>\n\n
\n\t\tMinimum Bid Lot is 44 Equity Shares and in multiples of 44 Equity Shares thereafter<\/li>\n
\n\t\tPrice Band of \u20b9 338 \u2013 \u20b9 340 per Equity Share<\/li>\n
\n\t\tIssue Opening Date \u2013 September 21, 2020* and Issue Closing Date \u2013 September 23, 2020<\/li>\n
\n\t\tThe Floor Price is 33.8 times the Face Value of the Equity Shares and the Cap Price is 34 times the Face Value of the Equity Shares<\/li>\n
\n\tAs per the Frost & Sullivan Report, the Company was the only manufacturer of HMDS in India and was the third largest manufacturer of HMDS in terms of production in CY 2019. Further, in terms of the Frost & Sullivan Report, the Company was the largest manufacturer in India and second largest manufacturer worldwide, for CMIC in terms of production in CY 2019. It has also recently developed 2 new products, namely 4-chlorobutyryl chloride (\u20184CBC\u2019) and 2,5 DHT (2,5-Dihydroxy-1,4-dithiane) and has already its executed first sale of 4 CBC in July 2020.<\/p>\n