Saturday, February 27, 2021

Chemcon IPO Details

Chemcon IPOChemcon IPO description – Chemcon is a manufacturer of specialized chemicals, such as HMDS and CMIC which are predominantly used in the pharmaceuticals industry, and inorganic bromides, namely Calcium Bromide, Zinc Bromide and Sodium Bromide, which are predominantly used as completion fluids in the oilfields industry. The company is the only manufacturer of HMDS in India and is the eighth largest manufacturer of HMDS worldwide in terms of production in 2018. It is the largest manufacturer of CMIC in India and the second largest manufacturer of CMIC worldwide, in terms of production and capacity in calendar year 2018. Further, it is the only manufacturer of Zinc Bromide and the largest manufacturer of Calcium Bromide in India, in terms of production in 2018.

The company supplies its products to domestic customers and also exports its products to countries including United States of America, People’s Republic of China, Japan, United Arab Emirates, Azerbaijan, Serbia, Russia and Malaysia. In FY2019, 2018 and 2017, its revenue from exports (including Deemed Exports) contributed 32.23%, 48.06% and 65.09% respectively of its revenue from operations, growing at a CAGR of 29.44% between FY2017 and FY2019.

The key customers of its 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.

Promoter of Chemcon Speciality Chemicals – Kamalkumar Rajendra Aggarwal, Navdeep Naresh Goyal and Shubharangana Goyal

Chemcon IPO details
Subscription Dates 21 – 23 September 2020  
Price Band INR338 – 340 per share
Fresh issue INR165 crore
Offer For Sale 45,00,000 shares (INR152.1 – 153 crore) 
Total IPO size INR317.1 – 318 crore
Minimum bid (lot size) 44 shares
Face Value  INR10 per share
Retail Allocation 35%
Listing On NSE, BSE

Chemcon’ financial performance (in INR crore)

  FY2017

FY2018

FY2019

FY2020

Revenue 90.0

158.4

305.3 266.0
Expenses 85.6

117.8

244.1

201.1

Net income 3.0

26.6

43.4

49.3

Net margin (%) 3.3

16.8

14.2

18.5

Registrar of Chemcon IPO

Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg,
Vikhroli (West) Mumbai – 400 083
Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email: [email protected]
Website: http://www.linkintime.co.in

Chemcon Contact Details

Chemcon Speciality Chemicals Limited
9th Floor, Onyx Business Center,
Akshar Chowk, Old Padra Road, 
Vadodara 390 020 
Phone: +91 265 298 1195 
Email: [email protected]  
Website: www.cscpl.com

Valuation of Chemcon Speciality Chemicals (as of FY2020)

Earnings Per Share (EPS): INR15.37
Price/Earnings (PE ratio): 21.99 – 22.12  
Return on Net Worth (RONW): 34.23% 
Net Asset Value (NAV): INR44.91 per share

Chemcon IPO Subscription Details

Category Shares offered Subscription (no. of times, at 7 PM)
Day 1 Day 2 Day 3
QIB 1,868,344 0.00 1.37 113.54
NII 1,407,249 1.24 3.50 449.14
Retail 3,283,580 9.83 22.94 41.15
         
Total 6,559,173 5.19 12.62 149.30

Chemcon IPO Analyst Reviews

Choice Broking – Subscribe with caution
Angel Broking – Subscribe
Geojit Financial Services – Subscribe
Motilal Oswal – Subscribe
BP Wealth – Subscribe
Arihant Capital Markets – Subscribe 
HEM Securities – Subscribe
Geojit Securities – Subscribe
Rudra Shares – Subscribe 

Chemcon IPO Allotment Status

Chemcon IPO allotment status is now available on Link Intime’s website. Click on this link to get allotment status.

Listing Performance of Chemcon Speciality Chemicals

IPO Opening Date: 21 September 2020
IPO Closing Date: 23 September 2020
Finalisation of Basis of Allotment: 28 September 2020
Initiation of refunds: 29 September 2020
Transfer of shares to demat accounts: 30 September 2020
Listing Date: 1 October 2020
Opening Price on NSE: INR731 per share (up 115% from IPO price)
Closing Price on NSE: INR584.8 per share (up 72% from IPO price)

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Brokerage-free IPO Investing with India's #1 Broker

X