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Chemplast Sanmar IPO to open on Aug 10; price band fixed at Rs 530-541

Chemplast Sanmar IPO to open on Aug 10; price band fixed at Rs 530-541
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Chemplast Sanmar files Rs 3,500-cr IPO papers

Chemplast Sanmar Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 3,500 crore through an initial share sale. The initial public offer (IPO) comprises a fresh issue of equity shares worth Rs 1,500 crore and an offer for sale of Rs 2,000 crore, according to draft red herring prospectus (DRHP). The offer for sale comprises the sale of Rs 1,850 crore by Sanmar Holdings Ltd and Rs 150 crore by Sanmar Engineering Services Ltd. Chennai-based Chemplast Sanmar is a leading specialty chemicals manufacturer with a focus on specialty paste PVC (polyvinyl chloride) resin and custom manufacturing of starting materials and intermediates for pharmaceutical, agro-chemical, and fine chemicals sectors.

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