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Anupam Rasayan India Ltd has filed a draft red herring prospectus with the Securities Exchange Board of India (Sebi) to raise  ₹760 crore through IPO.. (Photo: Reuters)
Anupam Rasayan India Ltd has filed a draft red herring prospectus with the Securities Exchange Board of India (Sebi) to raise 760 crore through IPO.. (Photo: Reuters)

Anupam Rasayan files 760 cr red herring prospectus with Sebi

  • Proceeds from the issue will be used to pay off 556.20 crore in debt. As of September, the company had a total debt of 814.48 crore. For the six months ended September, it had posted a profit of 26.5 crore versus 21.7 crore a year ago

MUMBAI : Anupam Rasayan India Ltd has filed a draft red herring prospectus with the Securities Exchange Board of India (Sebi) to raise 760 crore through an initial public offering (IPO).

Proceeds from the issue will be used to pay off 556.20 crore in debt. As of September, the company had a total debt of 814.48 crore.

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For the six months ended September, the company had posted a profit of 26.48 crore versus 21.74 crore a year ago. Revenue for the period stood at 355.13 crore, up 51.5% on year.

From FY18 to FY20, the company’s revenues have grown at CAGR of 24.29 % and its EBITDA for FY20 stood at 134.90 crore.

Anupam Rasayan creates specialty chemicals catering to sectors like agrochemical, personal care and pharmaceutical sectors, which in FY20 accounted for 95.37% of its revenues and “other speciality chemicals" and polymer additives contributed the balance.

It has six multi-purpose manufacturing facilities based in Gujarat, with four located in notified industrial estate at Sachin and are in close proximity to the Adani Hazira Port. Two are located in the notified industrial estate at Jhagadia.

The facilities have a combined aggregate installed capacity of around 23,396 metric tonne, of which 6,726 was added in March 2020.

The company has long term business with clients like Syngenta Asia Pacific, Sumitomo Chemical Company, UPL Ltd, across Europe, Japan, US, besides India.

Bankers appointed to the issue are Axis Capital, Ambit Private, IIFL Securities and JM Financial.

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