Some prominent names: Abakkus Asset Managers LLP, Kuber India, Ashmore Investment Management, India Acorn, Aurigin Master Fund

Mumbai, September 18, 2020 (GPN): Leading manufacturer of speciality chemicals, Chemcon Speciality Chemicals Limited will be opening its initial public offering for subscription on September 21, 2020* and will close on September 23, 2020. Ahead of its IPO announcement, the only manufacturer of HMDS in India and the third largest manufacturer of HMDS in terms of production in CY 2019 (Source: Frost & Sullivan Report). According to the regulatory filing, Chemcon has finalized the allocation of 2,805,880 equity shares at Rs 340 a piece to  13 anchor investors. Based on the price the total proceeds would be to the tune of 95.39 crores.

The Company is proposing to raise ₹318.00 crore via the fresh issue of ₹165 crore and OFS of 43,00,000 equity shares by the promoters. Utilization of the Net Proceeds will be towards the companies Capex towards expansion of their manufacturing facility, meet working capital requirement and towards general corporate purposes. The price band of the issue has been fixed at Rs ₹ 338 – ₹ 340 per Equity Share.

A total of 4 Mutual funds have applied through 7 schemes

The Company found interest and participation from well-known institutions such as IDFC Mutual Fund, ICICI Prudential, IIFL, HSBC Global, Mirae Asset Mutual Fund, Canara HSBC Oriental Bank of Commerce Life Insurance, Kuber India, Ashmore India, India Acorn, Tata Mutual Fund, Aurigin India, Reliance MF and Abakkus Asset Managers LLC.

Sr No	Form No.	Anchor Investor Name	No. of Equity Shares Allocated	% of Anchor Investor portion	Bid Price (Rs. per Share)	Total Amount allocated (Rs.)
1	1A	IDFC EMERGING BUSINESS FUND	205,920	7.34	340.00	70,012,800
2	1B	IDFC DYNAMIC EQUITY FUND	102,916	3.67	340.00	34,991,440
3	2	ICICI Prudential Child Care Plan Gift Plan	308,836	11.01	340.00	105,004,240
4	3	IIFL SPECIAL OPPORTUNITIES FUND SERIES 7	294,140	10.48	340.00	100,007,600
5	4	HSBC GLOBAL INVESTMENT FUNDS – ASIA EX JAPAN EQUITY SMALLER COMPANIES	294,140	10.48	340.00	100,007,600
6	5A	MIRAE ASSET HEALTH CARE FUND	250,052	8.91	340.00	85,017,680
7	5B	MIRAE ASSET EQUITY SAVINGS FUND	14,696	0.52	340.00	4,996,640
8	6	CANARA HSBC ORIENTAL BANK OF COMMERCE LIFE INSURANCE COMPANY LTD	220,616	7.86	340.00	75,009,440
9	7	KUBER INDIA FUND	202,620	7.22	340.00	68,890,800
10	8	ASHMORE INDIA OPPORTUNITIES FUND	176,484	6.29	340.00	60,004,560
11	9	INDIA ACORN FUND LTD	147,092	5.24	340.00	50,011,280
12	10A	TATA MULTI ASSET OPPORTUNITIES FUND	73,546	2.62	340.00	25,005,640
13	10B	TATA RESOURCES & ENERGY FUND	73,546	2.62	340.00	25,005,640
14	11	AURIGIN MASTER FUND LIMITED	147,092	5.24	340.00	50,011,280
15	12	RELIANCE EQUITY OPPORTUNITIES AIF SCHEME 1	147,092	5.24	340.00	50,011,280
16	13	ABAKKUS EMERGING OPPORTUNITIES FUND -1	147,092	5.24	340.00	50,011,280
Total			2,805,880	100.00		953,999,200

Intensive Fiscal Services Private Limited and Ambit Capital Private Limited are the BRLMs to the Issue. ENDS

About Chemcon:

Chemcon is an ISO 9001:2015 and ISO 14001:2015 certified company for the “Manufacture and supply of pharmaceutical intermediates, silanes and oilfield chemicals”. The Company is a leading manufacturer globally of the Pharmaceutical Chemicals and a leading manufacturer in India of the Oilwell Completion Chemicals as per the Frost & Sullivan Report. The Company is a manufacturer of  specialised chemicals, such as HMDS and CMIC which are predominantly used in the pharmaceuticals industry (the “Pharmaceutical Chemicals”), and inorganic bromides, namely Calcium Bromide, Zinc Bromide and Sodium Bromide, which are predominantly used as completion fluids in the oilfields industry (the “Oilwell Completion Chemicals”).Its manufacturing facility is located at Manjusar near Vadodara in Gujarat and spread across approximately 29,000 square metres. Its Corporate Office is located in Vadodara and their sales and marketing offices are located in Hyderabad and Mohali. The Manufacturing Facility currently comprises of seven individual operational plants (the “Operational Plants”), each dedicated to the manufacturing of specific products of the Company. The aggregate volumetric reactor capacity of these seven Operational Plants was 374.85 KL as on July 31, 2020.The Company was the only manufacturer of HMDS in India and was the third largest manufacturer of HMDS worldwide in terms of production in the calendar year 2019 (source: Frost & Sullivan Report). The Company was the largest manufacturer of CMIC in India and the second largest manufacturer of CMIC worldwide, in terms of production and capacity in calendar year 2019 (source: Frost & Sullivan Report). Further, the Company was the only manufacturer of Zinc Bromide and the largest manufacturer of Calcium Bromide in India, in terms of production in calendar year 2019 (source: Frost & Sullivan Report).