Anupam Rasayan will utilise the IPO proceeds to repay debt and for basic company functions.
Anupam Rasayan’s Rs 760 crore preliminary public supply (IPO) will open for subscription tomorrow i.e. March 12 and can shut on March 16. The shares of the specialty chemical firm might be offered within the value band of Rs 553-555 per share.
The IPO might be a recent problem of fairness shares. Investors can place bids for at least 27 fairness shares and in multiples of 27 fairness shares, extending as much as 13 tons. A complete of fifty per cent might be reserved for QIBs, 15 per cent for non-institutional buyers and 35 per cent for retail buyers. Some portion will even be reserved for the corporate workers.
Anupam Rasayan will utilise the IPO proceeds to repay debt and for basic company functions.
On March 10, Anupam Rasayan raised Rs 225 crore from 15 anchor buyers, together with Aditya Birla Sunlife Mutual Fund (MF), Nomura Funds Ireland Public Company, Fidelity International, Sundaram MF and SBI Life Insurance Co.
Anupam Rasayan began operations at Surat in 1984. It has six multi-purpose manufacturing amenities throughout Gujarat, with an put in capability of about 23,396 metric tonnes.
Axis Capital, Ambit Private, IIFL Securities and JM Financial are the book-running lead managers to the problem.
