Chemplast Sanmar, one of India’s top most specialty paste PVC resin manufacturers has decided the price band at Rs 530-541 per equity share for its upcoming Rs 3,850-crore initial public offering ( IPO).
The company’s initial public offering (IPO) will begin on August 10 and end on August 12. If there is an anchor book, it will open one day before the issue opens, on August 9.
The IPO consists of a Rs 1,300 crore new issuance and a Rs 2,550 crore offer for sale by promoters Sanmar Holdings and Sanmar Engineering Services. The promoters currently hold 100 percent of the firm.
The net proceeds from the new issue will be used to redeem non-convertible debentures early (Rs 1,238.25 cr).
Investors can make bids for the offer for a minimum of 27 equity shares and in multiples of 27 equity shares after that. Qualified institutional purchasers will receive up to 75% of the entire offer, while retail investors would receive 10% and non-institutional investors will receive 15%.
The issue’s worldwide co-ordinators and book running lead managers are ICICI Securities, Axis Capital, Credit Suisse Securities (India), IIFL Securities, Ambit, BOB Capital Markets, and HDFC Bank. The book running lead managers for the offer are IndusInd Bank and YES Securities (India).
On the basis of installed production capacity as of December 31, 2020, it is the third biggest manufacturer of caustic soda and the largest maker of hydrogen peroxide in the South India area, and one of India’s oldest chloromethanes manufacturers.