Chemcon IPO Details
Chemcon 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) |
||||
| Â | 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:Â http://www.linkintime.co.in
Chemcon Contact Details
Chemcon Speciality Chemicals Limited
9th Floor, Onyx Business Center,
Akshar Chowk, Old Padra Road,Â
Vadodara 390 020Â
Phone: +91 265 298 1195Â
Email: [email protected]Â Â
Website:Â 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 Â
Return on Net Worth (RONW): 34.23%Â
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 |
| Â | Â | Â | Â | Â |
| Total | 6,559,173 | 5.19 | 12.62 | 149.30 |
Chemcon IPO Analyst Reviews
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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)
