Anupam Rasayan India has decided to launch its initial public offering for subscription on March 12. It is one of the leading companies engaged in the custom synthesis and manufacturing of specialty chemicals in India.
Upon consultation with merchant bankers, the company has fixed a price band at Rs 553-555 per share for its issue. The IPO is scheduled to close on March 16.
The anchor investors’ book will open for bidding for a day on March 10. Investors can put bids for a minimum of 27 equity shares and in multiples of 27 equity shares thereafter.
The speciality chemicals maker aims to raise Rs 760 crore through its public issue which includes a reservation of 2.2 lakh equity shares for subscription by its employees.
Promoters Anand Desai, Kiran C Patel, Mona Desai, KPI LLC and RIRCPL, currently, own 66.04 per cent stake in the company.
The company has two distinct business verticals: life science-related speciality chemicals comprising products related to agrochemicals, personal care and pharmaceuticals; and other speciality chemicals, comprising speciality pigment and dyes, and polymer additives.