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Mehta Equities's IPO report on Chemcon Speciality Chemicals

Chemcon Speciality Chemicals Ltd (Chemcon) is a three decade old company based out of Vadodara, Gujarat. It is a manufacturer of specialised chemicals, such as HMDS and CMIC which are predominantly used in the pharmaceuticals industry and inorganic bromides, namely Calcium Bromide, Zinc Bromide and Sodium Bromide, which are used as completion fluids in the oilfields industry. Chemcon is the only manufacturer of HMDS in India and was the 3rd largest manufacturer of HMDS worldwide in terms of production in the calendar year 2019. It has a manufacturing plant at Manjusar near Vadodara in Gujarat, 5 operational plants, 3 warehouses, and 2 leased warehouses. It has a presence Pan India as well as globally with major exports coming from USA, China, Japan, UAE, Serbia, Russia, Malaysia, and Azerbaijan.

Valuation and Outlook

Hence, we recommend investors to “SUBSCRIBE” to the issue for long term as well as healthy listing gain.

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