Chemcon Speciality Chemicals IPO Closes For Bidding Today. Key Things To Know

Edited by Peter Noronha

23 Sep 2020, 01:04 PM IST

Chemcon Speciality Chemicals' customers include Laurus Labs, Aurobindo Pharma and Ind-Swift Laboratories.

Chemcon Speciality Chemicals' Rs 318-crore initial public offer (IPO) closes for bidding at 5:00 pm today i.e. September 23. The public offer of the Vadodara-based specialized chemical products maker had opened on September 21. The company has fixed the IPO price band at Rs 338-340 per share. The public issue includes fresh issue of equity shares worth Rs 165 crore and an offer for sale of up to 45 lakh equity shares.

The public offering has a lot size of 44 shares. Applicants can bid for a minimum 1 lot of 44 shares and in multiples of up to 13 lots.

As of 12:30 pm on September 23, the Chemcon IPO was subscribed 20.95 times. The public issue was subscribed 29.56 times in the retail category, 4.88 times in qualified institutional buyers (QIB) segment and 22.18 times in the non-institutional investors (NII category) portion.

Chemcon Speciality Chemicals has major customers such as Laurus Labs, Aurobindo Pharma and Ind-Swift Laboratories in the domestic market, and also exports to overseas markets, including the US, Germany, Italy, South Korea and Japan.

Among other ongoing IPOs, Computer Age Management Services will also close for subscription this evening and the Angel Broking IPO will close on Thursday.