Mumbai, March 15, 2021: Surat
based, custom synthesis and manufacturing focused specialty chemicals company
Anupam Rasayan India Limited; received bids of 3,53,30,067 shares against the offered 96,66,848
equity shares,
as per the 5:00 pm data available on the bourses.
The portion reserved for retail investors was subscribed 6.63
times. While the Qualified Institutional Buyer was subscribed 0.37 times, the Non-Institutional
Investor category was subscribed 1.40 times. The Employee category was subscribed 0.93
times.
Key brokerage houses like Axis Securities, ICICI Direct, Motilas Oswal,
Canara Bank Securities Ltd, Kotak Securities, Angel Broking, HEM Securities,
Choice Capital, BP Securities and Ventura have given positive recommendations
for the issue while highlighting the key strengths of the company like
diversified customer base, core focus on process
innovation and constant upgradation, consistent R&D, stringent quality
specifications, strong and long-term client relationships, marquee client base amongst
others. These report have further highlighted the Company’s consistent track record of financial performance and experienced
management as one of the key advantages of the Company.
The reports have also highlighted that India’s
specialty chemicals industry is expected to grow at a CAGR of approximately 10%
to 11% over the next five years and that India accounts for approximately 1% to
2% of the global exportable specialty chemicals; which indicates a large scope
of improvement and widespread opportunity in the speciality chemicals segment.
Axis Capital
Limited, Ambit Private Limited, IIFL Securities Limited and JM Financial
Limited are the book running lead
managers to the Issue.
(Subscription
table below)
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