Chemcon Speciality Chemicals, the manufacturer for pharmaceutical and oilfields industries, has finalised the basis of allotment after its IPO received an overwhelming response from investors.
Equity shares will get credited to the accounts of eligible investors by September 30 and the listing will be on October 1.
The Rs 318-crore public issue, which opened during September 21-23, witnessed ninth-highest subscription of 149.3 times in a decade and second highest in 2020 after Happiest Minds Technologies (150.98 times).
The IPO comprised a fresh issue of Rs 165 crore and an offer for sale of Rs 153 crore by promoters. The company will utilise fresh issue proceeds for expansion of manufacturing facility, working capital requirements, and general corporate purposes.
Chemcon manufactures specialised chemicals, such as Hexamethyldisilazane (HMDS) and Chloromethyl Isopropyl Carbonate (CMIC), which are predominantly used in the pharmaceuticals industry. It also makes inorganic bromides, namely calcium bromide, zinc bromide and sodium bromide, which are predominantly used as completion fluids in the oilfields industry (oilwell completion chemicals).
Given the strong demand, eligible investors may not get full allotment against the number of shares subscribed in the issue.
One can check the application/allotment status in four simple steps either on the BSE website or registrar's website.
Option 1Click on the BSE website to know the Chemcon Speciality Chemicals allotment status:
>> Check box "Equity"
>> Select your "Issue Name" in the dropdown menu— Chemcon Speciality Chemicals (Note: The company name will appear only after the allotment process is done)
>> Type your "Application Number" in the box
>> Type your "Permanent Account Number (PAN No.)" in the box
>> Finally click on "Search" button
Option 2One can also visit the registrar's website, Link Intime India, to know the application status:
>> Select "Company Name" in the dropdown—Chemcon Speciality Chemicals (The company name will appear only after the allotment process is done)
>> Check box either "Permanent Account Number (PAN)" or "Application Number" or Depository/Client ID
>> Accordingly, type your "Permanent Account Number (PAN )" or "Application Number" or Depository/Client ID in the box
>> Finally, click on teh "Submit" button
If the information provided by you is correct, then you will see the application status. The number of shares you subscribed to and the number allotted will also get reflected.