NEW DELHI: Anupam Rasayan s Rs 760 crore IPO opened for subscription this morning. The issue by the specialty chemicals company comprises entirely fresh issuance of shares, and is being sold in the Rs 553-555 price band.
At the upper limit of the price band, the scrip is asking a PE of 95.2 times trailing 12-month basis on restated EPS of Rs 5.80. This is significantly higher than the peer average of 33 times. Some analysts said the asking valuations exceed growth prospects.
Others insist on subscribing to the issue for the long term, as they see robust growth, market share gains and improved margins for the specialty chemicals company going forward.
NEW DELHI: Surat-based Anupam Rasayan has set the price band for its Rs 760 crore IPO at Rs 553-555 per share. The initial public offer (IPO) will open on Friday and will conclude on March 16.
The issue by the specialty chemicals company comprises entirely fresh issuance of shares and the net proceeds would be utilised towards repayment or prepayment of certain indebtedness and for general corporate purposes. The post-issue implied market capital is pegged at Rs 5,527-5,544 crore.
The company has listed peers such as PI Industries, Navin Fluorine International, Astec Lifesciences and SRF.
Prospective retail investors can bid a minimum of a one lot of 27 shares and in multiple thereof. The retail quota for the issue is set at 35 per cent. The company has kept up to 220,000 shares worth Rs 11 crore reserved for employees, who would also be offered a discount of Rs 55 per share.
Anupam Rasayan IPO To Open On March 12. Key Things To Know Anupam Rasayan IPO will be a fresh issue of equity shares and the issue will have 50 per cent quota reserved for QIBs, 15 per cent for non-institutional investors and 35 per cent for retail investors
Updated: March 08, 2021 1:20 pm IST
Anupam Rasayan IPO will close on March 16 and the shares are likely to be listed on BSE and NSE
Anupam Rasayan s Rs 760 crore initial public offer (IPO) will open for bidding on March 12. The specialty chemical company has fixed the issue price at Rs 553-555 per share. The issue will close on March 16 and the shares are likely to be listed on the BSE and NSE.