Chemcon Speciality Chemicals IPO: Share allotment finalised. How to check status1 min read . Updated: 29 Sep 2020, 10:48 AM IST
- Chemcon Speciality Chemicals IPO was subscribed a whopping 149 times
- The retail segment was subscribed over 40 times
The share allocation in Chemcon Speciality Chemicals IPO has been finalised today. Link Intime India Pvt Ltd is the registrar of the IPO and investors can check the allotment on its website. The issue, which closed on September 23, was subscribed a whopping 149 times. The ₹318-crore initial public offer received bids for 97,64,26,440 shares against 65,47,061 shares on offer. Earlier this month, the initial public offering of Happiest Minds Technologies was subscribed a whopping 151 times.
Share allocation in CAMS IPO, which had also closed on September 23, has also been finalised. Link Intime India Pvt Ltd is also the registrar of the CAMS IPO and investors can check their share allotment status on its website. Both Chemcon Speciality Chemicals and CAMS are expected to be listed on October 1.
In Chemcon Speciality Chemicals IPO, the retail individual investors segment was subscribed 40.40 times while qualified institutional buyers (QIBs) category was subscribed 113.40 times, and non-institutional investors 450.52 times.
The price range for the offer was fixed at ₹338-340 apiece and the lot size was 44 shares Minimum application money for retail investors at the upper price band per lot is Rs. 14,960. Retail investors could bid for a maximum of 13 lots.
Ahead of the IPO, Chemcon Speciality Chemicals had raised over ₹95 crore from anchor investors. The initial public offer comprises a fresh issue aggregating up to ₹165 crore and an offer for sale of up to 45 lakh shares.
Intensive Fiscal Services and Ambit Capital were the book running lead managers to the issue.
Vadodara-based Chemcon Speciality Chemicals Ltd is a leading manufacturer of specialised chemicals such as HMDS (Hexamethyldisilane) & CMIC (Chloromethyl isopropyl carbonate) which are predominantly used in pharmaceutical industry (pharmaceuticals chemicals) and inorganic bromides, predominantly used as completion fluids in the oilfields industry (Oil well completion chemicals).
In the past companies like Avenue Supermarts, IRCTC, Advanced Enzyme Technologies and Capacite Infraprojects had received more than 100 times subscription for their initial public offerings.
(With Agency Inputs)