Specialty chemicals company Anupam Rasayan share price opened with a 6.3 percent discount on the National Stock Exchange, March 24. The stock listed at Rs 520 against the issue price of Rs 555 per share.
The opening price on the BSE stood at Rs 534.70, registering a 3.6 percent loss. Analysts who talked to Moneycontrol had expected the stock to debut with 10-20 percent premium.
Anupam Rasayan India has garnered Rs 760 crore through its public issue which had seen a subscription of 44.06 times during March 12-16, 2021.
It was a complete fresh issue, so the funds after issue expenses will be used for paying debts.
To Know All IPO Related News, Click Here
Anupam Rasayan is engaged in the custom synthesis and manufacturing of specialty chemicals, largely focused on agrochemicals. The company has two business segments - life sciences specialty chemicals comprising products related to agrochemicals, personal care and pharmaceuticals, and other specialty chemicals including specialty pigment, dyes, and polymer additives.
The company has strong and long-term relationships with various multinational corporations (MNCs) including, Syngenta Asia Pacific, Sumitomo Chemical and UPL. These companies helped the company expand product offerings and geographic reach across Europe, Japan, United States and India.
The company operates business through its 6 multi-purpose manufacturing facilities in Gujarat, having an installed capacity of 23,438 MT.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
