The initial public offer of speciality chemicals company Anupam Rasayan India was subscribed 3.64 times on the second day of subscription on Monday. The Rs 760-crore issue received bids for 3,53,30,067 shares against 97,01,809 shares on offer, as per NSE data. The portion for qualified institutional buyers (QIBs) was subscribed 37 per cent, non-institutional investors 1.39 times and retail individual investors (RIIs) 6.60 times. The price range for the offer, which started on Friday, has been fixed at Rs 553- 555 per share. Anupam Rasayan had on Wednesday raised Rs 225 crore from anchor investors. The initial public offer (IPO) is an entirely fresh issuance of equity shares and proceeds of the issue would be mainly used to pay the debt.
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Anupam Rasayan IPO opens for subscription, should you subscribe to the share sale?
Anupam Rasayan IPO comprises fresh issuance of equity shares and proceeds of the issue would be mainly used to pay the debt
BusinessToday.In | March 12, 2021 | Updated 11:48 IST
Anupam Rasayan has fixed a price band of Rs 553-555 for the share sale. The public subscription will close on March 16.
Speciality chemical company Anupam Rasayan opened its initial public offer today. The IPO comprises fresh issuance of equity shares and proceeds of the issue would be mainly used to pay the debt. The company has fixed a price band of Rs 553-555 for the share sale. The public subscription will close on March 16.
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The research report suggests that the North America electric vehicle polymers market will register revenue growth at a CAGR of 29.80% in the considered years 2019-2028. The United States and Canada shape the market in this region.
In the United States, the surge in the application of polymers in electric vehicles is mainly because of an increase in the adoption and sales of these vehicles. The stringent regulations to improve electric vehicle adoption are also assisting in the growth of the studied market in North America. Moreover, the massive investments by established OEM automotive companies in electric vehicles will augment the demand for the electric vehicle polymers market during the forecast period.