cnThe IPO saga continues with the third public issue of the month in the form of Gujarat-based Anupam Rasayan. We tell you what the company and its maiden issue are all about.
Key details
- Price band: ₹553–555 per equity share
- Lot size: 27 shares
- IPO size: ₹760 crore
- Cost per lot: ₹14,985
- Issue opens: 12 March 2021
- Issue closes: 16 March 2021
- Basis of allotment date: 19 March 2021
- Initiation of refunds: 22 March 2021
- Credit of shares to demat account: 23 March 2021
- Expected listing date: 24 March 2021
About Anupam Rasayan
Founded in 1984 in Surat (Gujarat), Anupam Rasayan is a manufacturer of specialty chemicals in India. It competes with companies such as PI Industries and Aarti Industries in segments such as crop-protection chemicals and active pharmaceutical ingredients (APIs).
Anupam Rasayan has two distinct business verticals:
- Life science-related specialty chemicals, which comprise products in the agrochemicals, personal care and pharmaceuticals segments
- Other speciality chemicals, which cover speciality pigments, dyes, and polymer additives.
The company has six manufacturing facilities, with four facilities in Surat and two in Bharuch. In the first nine months of FY21, it manufactured products for over 53 domestic and international customers, including Sumitomo Chemical and UPL. Exports accounted for 68% of its total revenue.
Here’s an overview of the company’s financial performance.
| Financials | FY18 | FY19 | FY20 | 9MFY21 |
| Revenue from operations (₹ cr) | 341.43 | 501.50 | 528.88 | 539.22 |
| Profit (₹ cr) | 40.34 | 50.21 | 52.98 | 48.09 |
Here's a quick look at the competition
| Total revenue for fiscal 2020 (₹ cr) | Return on net worth (%) | |
| Anupam Rasayan | 539.39 | 9.62 |
| PI Industries | 7,258.46 | 17.43 |
| Navin Fluorine | 1,094.88 | 28.93 |
| Astec Lifesciences | 534.54 | 19.25 |
| SRF | 7,258.46 | 20.66% |
*At ₹555 per share
About the issue
While the previous IPO of Easy Trip Planners was unique for being entirely an offer for sale, Anupam Rasayan’s ₹760 crore public issue is completely a fresh issue. Proceeds from the issue will be used to repay company debt and for general corporate purposes. Of the total issue, shares worth ₹11 crore are reserved for the company’s employees. After the issue, the promoter shareholding in the company will reduce from 75.8% to 65.4%. The company’s post-issue market capitalisation is estimated at ₹5,527–5,544 crore.
IPO allocation quota
| QIB | HNI | Retail |
| 50% | 15% | 35% |
To know more about the IPO, read its red herring prospectus. The issue opens on 12 March 2021 and you can subscribe to the IPO of Anupam Rasayan with Upstox. Meanwhile, we’ll keep you posted on all the updates about this IPO and the public issues that follow, so stay tuned!