MUMBAI, 1 OCTOBER, 2020 (GPN): Leading manufacturer of speciality chemicals, Chemcon Speciality Chemicals Limited whose IPO opened on September 21, 2020 and closed on September 23, 2020 listed on the BSE and NSE at a 118% premium. The initial public offering was offered at a lower price band of Rs 338 per share and higher price band of Rs 340 per share and found a great response from all investor categories to be subscribed over 149.14 times.

Bids of 976,426,440 shares were received against the offering of 65,47,061 shares. The portion reserved for retail investors was subscribed 40.40 times and Qualified Institutional Buyer category was subscribed 113.43 times. Non-Institutional Investor category was subscribed 450.52 times; second highest amongst the IPOs announced in FY20-21, as compared to the recent IPOs of CAMS – 111.85 times and Route Mobile – 192.81 times.

The shares of the company listed at Rs. 730.95 per share it touched a high of Rs 743.80 per share and closed at Rs. 584.80 per share on BSE. Subsequently on NSE Chemcon’s shares listed itself at Rs 731 per share and it made a high at Rs 731.25 per share and closed at Rs 584.80 per share.

The total quantity traded on NSE today was 1.57 crore with a total delivery percentage of 33.81%. The total quantity traded on BSE today was 19,44,927 with a total delivery percentage of 26.89 %.

The Market Capitalization of the Company post today’s closing price stands at Rs. 2142.16 crores as per BSE data.

The Company  had raised 95.39 crs from 13 investors which included well known institutions such as IDFC Mutual Fund, ICICI Prudential, IIFL, HSBC Global, Mirae Asset Mutual Fund, Tata Mutual Fund amongst others before the IPO

Speaking on this momentous occasion – Mr. Kamalkumar Rajendra Aggarwal, Chairman & Managing Director said “ The response has been great and our commitment to the investors will definitely show greater resolve. We will continue to focus on growing our capacities and exports in the HMDS and CMIC segment as well as expand to newer products to meet import substitutions in pharma segment.” 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).