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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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ResearchAndMarkets.com s offering.
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.
The initial public offer of speciality chemicals company Anupam Rasayan India Limited was subscribed 1.29 times on the first day of subscription on Friday. The Rs 760-crore public issue received bids for 1,25,08,209 shares against 97,01,809 shares on offer, according to NSE data. The category for non-institutional investors was subscribed 9 per cent and those for retail individual investors (RIIs) 2.58 times. Price range for the offer, which would close on Tuesday, 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.
Read more about High valuation vs growth prospects: Should you bid for Anupam Rasayan IPO? on Business Standard. While most analysts have assigned a Subscribe rating to the IPO, they have also flagged valuations concerns