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The IPO of Chemcon Speciality Chemicals acquired a staggering response from the buyers. The Rs 318-crore preliminary public provide (IPO) was subscribed 149.05 instances, with the retail class being subscribed 40.65 instances, certified institutional consumers attracting 113.54 instances subscription and non-institutional buyers section, and 449.14 instances
The public provide of the Vadodara-based specialised chemical merchandise maker had opened for bidding on September 21 and closed at 5:00 pm at this time i.e. September 23. The public problem included recent problem of fairness shares amounting to Rs 165 crore and a suggestion on the market of as much as 45 lakh fairness shares. The worth band of the IPO has been fastened at Rs 338-340 per share and the shares are set to be listed on October 1.
Going into the IPO, Chemcon Speciality Chemicals had raised over Rs 95 crore from 13 anchor buyers.
The firm plans to utilise the online proceeds from the recent problem for its capital bills, enlargement of its manufacturing facility and basic company functions.
Chemcon Speciality Chemicals’ main home clients embody Laurus Labs, Aurobindo Pharma and Ind-Swift Laboratories. It additionally exports to main abroad markets such because the US, Germany, Italy, South Korea and Japan.
Among different ongoing IPOs, Computer Age Management Services IPO has additionally closed for subscription and Angel Broking IPO will shut on Thursday i.e. September 24.
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