Chemcon Speciality Chemicals IPO Dates, Size, Allotment, Bid Details, GMP & DRHP

Let’s have a detailed review of the company and analytics of the Chemcon IPO release date, IPO offer price, subscription, Chemcon Speciality Chemicals IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters, and other related things. 

Check out IPO Allotment of CAMS IPO & Chemcon IPO here – IPO Allotment Status

Face ValueRs.10
Price BandRs.338 – Rs.340
Listing AtBSE, NSE
Min. Order Quantity1 Lot = 44 Shares
Listing Date1st Oct, 2020
Offer for SaleRs.153 Cr.
Fresh IssueRs.165 Cr
IPO SizeRs.318 Cr
Tick SizeNA

 


Chemcon IPO – Live Performance

The listing date of this IPO is not yet announced. The tentative date of Chemcon IPO listing is Oct 1, 2020. You can check the live performance of the IPO here, only after it is listed on exchanges.

Live IPO Performance – Chemcon Share Price

Summary of Chemcon IPO

Chemcon IPO

Company are 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”).

The key customers of Pharmaceutical Chemicals include Hetero Labs Limited, Laurus Labs Limited, Aurobindo Pharma Limited, Sanjay Chemicals (India) Private Limited, Lantech Pharmaceuticals Limited, Ind- Swift Laboratories Limited, Vivin Drugs & Pharmaceuticals Limited, Macleods Pharmaceuticals Limited and the key customers of Oilwell Completion Chemicals include Shree Radha Overseas, Water Systems Specialty Chemical DMCC, Universal Drilling Fluids and CC Gran Limited Liability Company.

The Promoters of this company are KAMALKUMAR RAJENDRA AGGARWAL, NAVDEEP NARESH GOYAL AND SHUBHARANGANA GOYAL. The lead manager to the issue are Intensive Fiscal Services Private Limited and Ambit Capital Private Limited & the Registrar to this issue is Link Intime India Private Limited.


Chemcon Limited IPO Date

The opening and the closing date of Chemcon IPO is Sep 21, 2020 – Sep 23, 2020.


Chemcon IPO Subscription

Day / DateQIBNIIRIITotal Subscription
1st Day – Sep 210.00x1.24x9.83x5.19x
2nd Day – Sep 221.37x3.50x22.94x12.62x
3rd Day – Sep 23114.17x449.23x41.15x149.31x
Shares Offered or Net Issue1,868,3441,407,2493,283,5806,559,173

The shares subscribed by the public will be updated here.


Chemcon IPO Allotment Status

Here, you can find the Allotment Status of this IPO.

Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment status is not yet disclosed.

Chemcon IPO Listing Date

Find the dates below on basis of allotment, refund, listing and more:

Basis of Allotment FinalizationSep 28, 2020
Refunds InitiationSep 29, 2020
Credit of Shares to Demat AccountSep 30, 2020
Share Listing DateOct 1, 2020

Chemcon IPO Price Band / Cash Price

The face value of each share is Rs 10, but the price band of the IPO is Rs.338 to Rs.340. 


Chemcon IPO Equity Size

This Initial Public Issue of 9,800,000 Equity Shares of Rs.10 each for cash at a price of Rs.338 to Rs.340 per equity share aggregating to Rs.318 Cr.


Chemcon IPO Equity Share Offering

Fresh Issue: The Fresh Issue of 5,500,000  Equity Shares by their Company, aggregating to Rs.165.00 Cr,

Issue Size: 9,800,000 Equity Shares of Rs.10 each, aggregating to Rs.318.00 Cr

Offer for Sale: Offer for sale consists of Up to 4,500,000 Equity Shares of face value of Rs.10 each, aggregating Rs.153 Cr.


Chemcon IPO Grey Market Premium

The Chemcon IPO Grey Market Premium price is Rs X, the Kostak rate is Rs 350 and the Subject to Sauda is 5000. 


Chemcon Limited – Company Overview

Company was originally incorporated as Gujarat Quinone Private Limited at Vadodara, Gujarat, India, as a private limited company under the Companies Act, 1956, pursuant to a certificate of incorporation dated December 15, 1988 issued by the RoC.

Promoters and Promoter Group completed the acquisition of 100% of the Equity Share capital of our Company in 2004 from the shareholders of our Company at the time.

Subsequently, Company was converted into a public limited company pursuant to the approval of Shareholders at an extraordinary general meeting held on November 28, 2018.

Consequently, the name of Company was changed to “Chemcon Speciality Chemicals Limited” and a Fresh certificate of incorporation consequent upon conversion to public limited company was issued by the RoC on April 10, 2019.

Business strategies of Chemcon Limited

  • Expansion of our total installed production capacity
  • Augmenting growth in the current geographic markets and expanding into new geographic markets
  • Exploring newer applications of our existing products as well as focusing on new products that are in synergy
    with our current operations
  • Continue to strive for cost efficiency

Chemcon Speciality Chemicals Limited – Financial Statements

A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

Financial Summary of Chemcon Speciality Chemicals

On the basis of Standalone statement:-

Amount (in INR & Millions)  
31-Mar-2031-Mar-1931-Mar-1831-Mar-17
Total Assets2,257.921,730.33970.66626.80
Total Revenue2,660.173,053.261,583.91899.96
Total ExpenseNA2,431.131,179.22855.66
Profit After Tax488.53430.41263.8128.24

Earnings per Equity Share (in Millions)

31-Mar-2031-Mar-19Mar-1831-Mar-17
Basic & Diluted15.3713.5408.3000.89

From FY 2016-17 to FY 2018-19, as per the Restated Financial Statements

For Fiscals 2019, 2018 and 2017, our revenue from operations was Rs.3,041.68 million, Rs.1,583.07 million and Rs.898.92 million, respectively, growing at a CAGR of 83.95% between Fiscal 2017 and Fiscal 2019.

Our EBITDA for Fiscals 2019, 2018 and 2017 was Rs.679.21 million, Rs.456.81 million and Rs.86.60 million respectively, growing at a CAGR of 180.06% between Fiscal 2017 and Fiscal 2019, while our profit after tax for Fiscals 2019, 2018 and 2017 was Rs.430.41 million, Rs.263.81 million and Rs.28.24 million respectively, growing at a CAGR of 290.39% between Fiscal 2017 and Fiscal 2019


Chemcon IPO – Promoters

The Promoter of this company is:

  • KAMALKUMAR RAJENDRA AGGARWAL,
  • NAVDEEP NARESH GOYAL AND
  • SHUBHARANGANA GOYAL

List of Related Parties (Key Managerial Personnel)

  • Shahilkumar Maheshbhai Kapatel, Company Secretary and Compliance Officer
  • Rajesh Chimanlal Gandhi, Chief Financial Officer

Interest in promotion of the Company

Promoters are interested in the Company to the extent that they are the Promoters of Company and to the
extent of their respective shareholding in Company, their directorship in Company and the dividends
payable, if any, and any other distributions in respect of their respective shareholding in Company or the
shareholding of their relatives in Company

Property Interest

Promoters do not have any interest in any venture that is involved in any activities similar to those conducted
by Company.

Interest in Intellectual Rights of the Company

As on the date of filing of the Draft Red Herring Prospectus, the Company does not own any intellectual property rights.


Chemcon Limited IPO Offer Details or Issue Details

Particulars No. Of Equity Shares
 Equity Shares Offered Up to [●] Equity Shares, aggregating up to Rs[●]
million
 Of which:
 Reserved for Market Makers Up to [●] Equity Shares, aggregating up to Rs1,750
million
 Net Issue to the Public Up to 4,300,000 Equity Shares, aggregating up to
Rs [●] million
 Of which:
 Retail Investors Portion Not less than [●] Equity Shares
 Non-Retail Investors PortionNot less than [●] Equity Shares
 Equity Shares outstanding prior to the Issue31,777,760 Equity Shares
 Equity Shares outstanding after the IssueUpto [●] Equity Shares

Chemcon Limited IPO Issue Object

These are the IPO Issue Objects of the company

  • Capital expenditure towards expansion of our Manufacturing Facility (“Project”);
  • To meet working capital requirements; and
  • General corporate purposes

Chemcon IPO – Basis of the Offer Price

The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.

Qualitative factors are:

  • We are a leading manufacturer globally of the Pharmaceutical Chemicals and we are a leading manufacturer
    in India of the Oilwell Completion Chemicals (Source: Frost & Sullivan Report);
  • Diversified customer base coupled with long standing relationships;
  • The specialty chemicals industry in which we operate has high entry barriers;
  •  Consistent financial performance with a strong financial position;
  • Manufacturing facility with dedicated plants for each of our products; and
  •  Experienced senior management.

The relevant quantitative factors are:

On the basis of standalone statement:-

Basic & Diluted EPSRONW NAV (Rs.)
Mar-1913.5444.94%30.14
Mar-188.3049.20%
31-Mar-170.8910.44%
  • Price to Earnings (P/E) ratio in relation to Issue Price of Rs. [ ]:
ParticularsP/E ratio
Highest33.06
Average26.13
Lowest26.13
  • Competitive Peers: There are no listed entities which are focused exclusively on the segment in which they operate. Hence, it is not possible to provide an industry comparison in relation to the Company.

Chemcon IPO Lead Managers

Lead Managers
Intensive Fiscal Services Private Limited
914, 9th Floor,
Raheja Chamber
Free Press Journal Marg
Nariman Point
Mumbai 400 021, India
Telephone: + 91 22 2287 0443/44/45
Email: chemcon.ipo@intensivefiscal.com
Investor Grievance Email: ipo@intensivefiscal.com
Website: www.intensivefiscal.com
Contact person: Harish Khajanchi/Anand Rawal
SEBI Registration No.: INM000011112
Lead Managers
Ambit Capital Private Limited
Ambit House
449, Senapati Bapat Marg
Lower Parel
Mumbai 400 013, India.
Telephone: +91 22 3043 3000
Email: chemcon.ipo@ambit.com
Investor Grievance Email:
investorgrievance.acpl@ambit.co
Website: www.ambit.co
Contact Person: Krishnakant Jaju/ Sandeep Sharma
SEBI Registration No.: INM000012379

Chemcon IPO Registrar to offer

Registrar to the Offer
Link Intime India Private Limited
C-101, 1st floor, 247 Park
86 Lal Bahadur Shastri Marg
Vikhroli (West)
Mumbai 400 083, India
Telephone: (91 22) 4918 6200
E-mail: chemcon.ipo@linkintime.co.in
Investor grievance e-mail: chemcon.ipo@linkintime.co.in
Website: www.linkintime.co.in
Contact Person: Shanti Gopalkrishnan
SEBI Registration No.: INR000004058

Chemcon IPO Other Details:

  • Statutory Auditor – M/s Shah Mehta and Bakshi, Chartered Accountants, K.C. Mehta & Co., Chartered Accountants
  • Peer Review Auditor -M/s Shah Mehta and Bakshi, Chartered Accountants, K.C. Mehta & Co., Chartered Accountants
  • Bankers to the Company – HDFC Bank Ltd


Chemcon Limited IPO Review by Top 10 Stock Brokers

Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
Angel Broking7.5/107.4/108.5/108.1/107.1/10
Sharekhan7.2/107.1/108.6/108.1/107.2/10
Kotak Securities7.3/107.5/108.4/108.1/107.3/10
ICICI Direct7.3/107.3/108.7/108.1/107.1/10
IIFL7.5/107.2/108.8/108.0/107.1/10
Edelweiss7.5/107.4/108.4/108.3/107.2/10
Zerodha7.4/107.1/108.5/108.1/107.0/10
5Paisa7.1/107.1/108.4/108.1/107.1/10
Karvy7.4/107.3/108.2/108.1/107.1/10
Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

Chemcon IPO Review & Ratings

IPO Ratings & Review
CriteriaRatings
Industry Sentiments7.5/10
Industry Ranking7.1/10
Company Background7.3/10
Company Reputation7.2/10
Competitive Edge7.7/10
Financial Statements7.1/10
Popularity Index7.4/10
Promoters Reputation7.7/10
Retail Appetite7.1/10
Top Brokers Review7.9/10
Overall Ratings7.4/10
Star Ratings★★★★☆

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