Recovery in another important end market for the chemical industry, Indian FMCG, has aided higher earnings growth for Galaxy surfactants.
The company’s dominant market share, long term strategic partnership, R&D focus and sole focus on personal care end market makes it a defensive bet in the chemical industry.
Import duty on palm oil has surged over the last one year. In March, duties on CPO were increased to 44% from 30%, which is the third such hike in nine months which started from 7.5%.
Galaxy Surfactants' Rs 937-crore IPO was subscribed 20 times during January 29-31. The IPO was in a price band of Rs 1,470-1,480 per share.
The Nifty50 is likely to open with a gap on the higher side on Thursday tracking SGX Nifty which was signaling an up move of over 70 points in morning trade. The index closed 21 points lower at 10,476.
Galaxy Surfactants' Rs 937-crore IPO received bids for 8,85,08,110 shares against the total issue size of 44,32,174 shares, data available with the NSE till 1930 hours showed.
Company seems well equipped to meet opportunities in terms of higher demand (Unutilized capacity), speciality application (R&D, Patents). However, IPO offer seems priced to perfection compared to fundamentals as well as relative to speciality chemicals peers.
Galaxy Surfactants aims to raise Rs 930.75-937.08 crore at a price band of Rs 1,470-1,480 per share. Out of which, it already garnered Rs 281.13 crore from 33 anchor investors at Rs 1480 per share on January 25.
HEM Securities has come out with its report on Galaxy Surfactants IPO , The research firm has recommended to “ Subscribe ” the IPO in its research report as on January 25, 2018
The company had filed its draft papers with Securities and Exchange Board of India (Sebi) in November last year and obtained 'observations' from the regulator on January 12, 2018, the latest update with markets watchdog showed.
During the initial share sale, as many as 307 shareholders will sell 63,31,674 shares of the company, according to the draft red herring prospectus (DRHP )filed with Sebi.
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Watch accompanying videos of Making It Big which focuses on Galaxy Surfactants; how it was built, its vision and strategy.
Galaxy Surfactants is a case of a mispricing, says SP Tulsian, sptulsian.com.
Galaxy Surfuctants has been withdrawn its Initial public offering (IPO) due to poor response to the issue. Issue closed one day before its official closing date May 19, 2011, where issue subscribes 30%.
Galaxy Surfactants is bringing the issue at price band of Rs 325-340 per share at p/e multiple of 13-14 at post issue annualized eps of Rs 24.12. Looking at the strong future prospects of the company, Hem Securities has recommended investors to Subscribe the issue for investment purpose.
Galaxy Surfactants is promoted by technocrats experienced in the line of business. Good financial report card, reasonable valuation and strong reliance on R&D promise long term value. However, its Egyptian manufacturing foray is a bit of a concern.
MLR Securities has recommended investors with high risk appetite to Subscribe to the issue for long term time frame, in its research report.
Galaxy Surfactants has entered capital market with its initial public offering of 59.3 lakh equity shares. ICICIdirect.com has recommended subscribing the issue, in its research report.
U Shekhar, Managing Director of Galaxy Surfactants, in an interview with CNBC-TV18's Sonia Shenoy and Anuj Singhal, shared his view on the IPO proceeding and spoke about the companies performance going forward.
Specialty chemicals maker Galaxy Surfactants has set a price band of Rs 325-340 a share to raise up to Rs 202 crore via initial public offering (IPO), according to an advertisemnt in the Business Standard newspaper on Monday.