Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Specialty chemical company <keyword id="10487971" type="UNKNOWN" weightage="20" keywordseo="Anupam-Rasayan">Anupam Rasayan</keyword> has filed preliminary papers with markets regulator Sebi to raise 760 crore through an <keyword id="35216" type="ENTERTAINMENT" weightage="20" keywordseo="initial-public-offering">initial public offering</keyword>. Proceeds of the issue would be used mainly for repayment of debt, the company said in the draft red herring prospectus (DRHP). Surat-based company has decided to reserve a portion for its employees and may consider a discount for eligible staff. Anupam Rasayan commenced operations in 1984 with conventional products and now it makes speciality chemicals that involve multi-step synthesis and complex chemistries. It has six multi-purpose manufacturing facilities based in Gujarat with a combined aggregate installed capacity of around 23,396 metric tonne, of which 6,726 metric tonne was added in March 2020. The company mainly caters to the agrochemical, personal care and pharmaceutical sectors, which accounted for over 95 per cent of its revenues in 2019-20. Its clients include Syngenta Asia Pacific, Sumitomo Chemical Company and UPL Limited. Axis Capital, Ambit Private, IIFL Securities and JM Financial have been appointed as merchant bankers for the issue. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-food-ipo-investors-saw-their-money-double-on-listing-day/articleshow/79934860.cms">Mrs Bector’s Food IPO investors saw their money double on listing day</a> <a href="https://www.businessinsider.in/stock-market/news/burger-king-ipo-investors-tripled-their-money-in-three-days/articleshow/79761366.cms">Burger King's IPO investors tripled their money in three days</a>

Anupam Rasayan files IPO to raise ₹760 crore, proceeds to be used for debt repayment

<ul><li>Shares of Anupam Rasayan listed on the stock exchanges at ₹520 per share, which is over 6% lower than the issue price.</li><li>The company’s initial public offer (IPO) was oversubscribed by 44 times.</li><li>It intends to use a bulk of the proceeds of the IPO towards repaying its debts.</li></ul>Shares of Anupam Rasayan, the latest company to get listed on the Indian stock exchanges, debuted at ₹520 per share, which is more than 6% below its issue price of ₹555. The specialty chemical maker floated its ₹760 crore initial public offer (IPO) earlier this month. The IPO was oversubscribed by 44 times, with non-institutional investors leading the fray. At the time (10:05 am) of writing, the company’s shares were trading at ₹512 per share, which is down by nearly 8%. The Surat-based Anupam Rasayan plans to repay its debts worth ₹556.20 crore from the proceeds of the IPO. Its total debts amount to ₹814.48 crore. The grey market premium for Anupam Rasayan’s shares was hovering around the ₹65-70 mark, which translates to approximately 12% of the issue price of ₹555. It is worth noting that grey market premium is not an official measure of market premium. Anupam Rasayan commenced operations in 1984 with conventional products, and now it makes specialty chemicals that involve multi-step synthesis and complex chemistries. The company’s business is divided in two verticals – life science related to specialty chemicals and other specialty chemicals. In its IPO note, HDFC Securities stated that Anupam Rasayan’s business and customer-base is diversified across industries, which shields it from the market uncertainties. “Its customers are typically engaged in various industries, including agrochemicals, personal care, pharmaceuticals, specialty pigments and dyes, and polymer additives, and spread across various geographies, which helps it mitigate risks resulting from customer, industry and geographic concentration,” said HDFC Securities in its report. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/the-760-crore-anupam-rasayan-ipo-has-received-a-mixed-response-from-brokerages-heres-what-works-for-it-and-what-doesnt/articleshow/81462495.cms">The ₹760-crore Anupam Rasayan IPO has received a mixed response from brokerages — here's what works for it and what doesn't</a> <a href="https://www.businessinsider.in/stock-market/news/how-to-check-allotment-status-of-suryoday-small-finance-bank-ipo-online/articleshow/81647204.cms">Suryoday Small Finance Bank IPO allotment live – how to check allotment, listing date and more</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-green-energy-share-price-hit-upper-circuit-after-the-company-adds-two-renewable-energy-projects-to-its-kitty/articleshow/81627604.cms">Adani Green Energy shares hit upper circuit after the company adds two renewable energy projects to its kitty</a>

Anupam Rasayan fails to dazzle on its stock market debut – shares down by nearly 8% soon after listing

<ul><li>Shares of <keyword id="4241330" type="PERSON" weightage="20" keywordseo="suryoday-small-finance-bank">Suryoday Small Finance Bank</keyword> listed on the stock exchanges at ₹292 per share, which is over 4% less than the issue price. </li><li>The company’s initial public offer (IPO) was oversubscribed by 2.37 times. </li><li>It intends to use proceeds of the IPO towards bolstering its Tier-1 capital -- essentially boosting its financial strength and meeting its future capital requirements. </li></ul>Shares of Suryoday Small Finance Bank debuted at ₹292 per share, which is over 4% lower than its issue price of ₹305. At 10:05 am, the share price of Suryoday Small Finance Bank was hovering around ₹283, down by 7% over the issue price. The ‘new-age’ small finance bank floated its ₹581 crore initial public offer (IPO) earlier this month. The IPO was oversubscribed by 2.37 times, with retail investors leading the fray. Suryoday Small Finance Bank (SSFB) plans to boost its Tier-1 capital from the proceeds of the IPO. This, it says, will be used for meeting future capital requirements. Tier-1 capital refers to the core capital of a bank that consists of equity shares and retained earnings. It is used to measure the bank’s financial strength and its capital adequacy. The grey market premium for SSFB’s shares was hovering in the negative, meaning the grey market expected the bank’s shares to list lower than the issue price. It is worth noting that grey market premium is not an official measure of market premium. SSFB commenced its microfinance operations in 2009. It received the small finance bank (SFB) licence from the Reserve Bank of India (RBI) in 2016. Prior to getting approval to operate as a small finance bank from the Reserve Bank of India, SSFB operated as a non-banking finance corporation and offered small ticket-size loans to women from weaker sections of the society. SSFB serves customers in the unbanked and underbanked categories. It has been serving these segments for over a decade now. “Suryoday Small Finance Bank is among the leading SFBs in India in terms of net interest margins, return on assets, yields and deposit growth and had the lowest cost-to-income ratio among SFBs in India in fiscal 2020,” a report by Axis Capital said. Explaining the extent of SSFB’s operations, a HDFC Securities reported states, “As of December 31, 2020, SSFBL’s customer base was 1.44 million and its employee base comprised 4,770 employees and it operated 554 Banking Outlets including 153 Unbanked Rural Centres.” SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/how-to-check-allotment-status-of-suryoday-small-finance-bank-ipo-online/articleshow/81647204.cms">Suryoday Small Finance Bank IPO allotment live – how to check allotment, listing date and more</a> <a href="https://www.businessinsider.in/stock-market/news/anupam-rasayan-ipo-lists-at-520-per-share-on-the-india-stock-exchange/articleshow/81663145.cms">Anupam Rasayan fails to dazzle on its stock market debut – shares down by nearly 8% soon after listing</a> <a href="https://www.businessinsider.in/business/corporates/news/adani-green-energy-share-price-hit-upper-circuit-after-the-company-adds-two-renewable-energy-projects-to-its-kitty/articleshow/81627604.cms">Adani Green Energy shares hit upper circuit after the company adds two renewable energy projects to its kitty</a>

Suryoday Small Finance Bank shareholders lost 7% of their investment within minutes of listing

You Searched For "anupam rasayan allotment" and got 3 results

Anupam Rasayan files IPO to raise ₹760 crore, proceeds to be used for debt repayment

PTI

Anupam Rasayan fails to dazzle on its stock market debut – shares down by nearly 8% soon after listing

Rounak Jain

Suryoday Small Finance Bank shareholders lost 7% of their investment within minutes of listing

Rounak Jain

Popular Keywords

Buying Guides